The circular informs the industry about the latest edition of the Regtech Adoption Practice Guide, which is the ninth issue. The focus of this issue is on Regtech solutions that can assist banks in improving their privacy compliance activities and establishing customer trust in light of the increasing amount of customer data collected and processed. The guide offers implementation guidance to help banks plan the adoption of these Regtech solutions for customer data and privacy. It also provides advice on how banks can use these solutions to address challenges throughout the customer data lifecycle, including data inventory, consent management, data processing, impact assessment, and incident response.
Ninth Issue of Regtech Adoption Practice Guide: https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2023/20230510e1a1.pdf