Michelle Virgiany

2 months ago | herbertsmithfreehills.com | Michelle Virgiany |Vik Tang

After concluding its assessment of the alternative credit scoring business model under the sandbox regime in 2024, Indonesia’s Financial Services Authority (OJK) has issued a new regulation on the licensing of alternative credit scoring providers (ACS Providers). The new regulation – OJK Regulation No. 29 of 2024 – took effect on 20 December 2024. Some of the key points to note are as follows. Paid-up capital.

Jul 24, 2024 | lexology.com | Malika Chandrasegaran |Charlotte Henry |Michelle Virgiany

Click here to listen to the audio. Explore the latest trends and insights in technology deals across the APAC region with our sixth episode focusing on the dynamic world of Fintech. Join Malika Chandrasegaran, along with Charlotte Henry and Michelle Virgiany, experts in financial services and tech regulatory matters, as they delve into the current landscape of Fintech M&A, discussing the shifts in activity over the past year due to post-COVID adjustments and regulatory changes.

Feb 20, 2024 | mondaq.com | Michelle Virgiany

In December 2023, Indonesia saw the issuance of two sets of ethical guidelines on the use of artificial intelligence. The first was Ministry of Communication and Informatics (MOCI) Circular Letter No. 9 of 2023 on AI Ethical Guidelines, issued on 19 December 2023 (the MOCI AI Circular Letter).

Feb 13, 2024 | mondaq.com | Jon Ford |Marina Reason |Simone Hui |Michelle Virgiany

Senior managers need to be confident in their approaches to their firms' use of AI in order to manage regulatory expectations and deliver good customer outcomes AI is transforming the global economy. Firms' leaders and senior managers are grappling with how this will impact financial services. The opportunities are significant: generative AI is estimated to lead to increases in productivity of between 2.8% to 4.7% of banks' annual revenues (a US$200 – 340 billion increase)1.

Feb 12, 2024 | mondaq.com | Hannah Cassidy |Kelesi Blundell |Michelle Virgiany |Patricia Horton

With crypto currencies and assets firmly lodged in the public mind, regulators need to lay guardrails to facilitate innovation and combat misbehaviour Tokenisation of securities (securities that are traditionally issued but then represented digitally using distributed ledger technology (DLT), or security tokens that exist only on DLT) is a focus for many in the financial services industry including banks and financial market infrastructure.