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NIFA Holds Seminar on Financial Service Apps Registration

  

NIFA held a seminar on financial service apps registration in Beijing on January 9, 2020, which invited experts from the Technology Department of the People's Bank of China, the National Financial IC Card Security Testing Center, and the China Financial Authentication Center to give lectures.

NIFA deputy secretary-general Zhu Yong pointed out in his opening remarks that with the widespread application of financial service apps, more attention has been drawn to cyber security and personal information protection, and relevant policies have been rolled out by regulators. Market players should attach great importance to, actively cooperate with and vigorously publicize these policies, fully recognize the seriousness and necessity of financial service apps registration, and complete the registration work in accordance with the requirements of the People's Bank of China and other regulators, so as to live up to the expectations of regulators, financial institutions and the general public.

The lecturers interpreted in detail the “FinTech Development Plan (2019-2021)” published by the People’s Bank of China last August, and explained relevant policy standards as well as work requirements for financial service apps registration with the help of case analysis. It is recommended that NIFA continue to strengthen close communication with regulators, form a joint force with testing, certification and other institutions to continuously improve the registration requirements and solidly promote the process. Representatives from nearly 160 institutions from different provinces and cities participated in the seminar, covering banking, securities, insurance, trust management, consumer finance, credit reporting services, and online micro-lending. Participants agreed that the seminar had a clear and targeted theme, and was very instructive for financial institutions to strengthen app management and personal information protection. They will carry out follow-up self-examination and registration work in accordance with relevant requirements to effectively safeguard the legitimate rights and interests of financial consumers.

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