China Merchant Bank (CMB), Industrial and Commercial Bank of China (ICBC) and other major Chinese commercial banks have stopped robo-advisory services in response to increased regulatory scrutiny.

Digital wallets are driving a transformation of financial services around the world. The gross transaction value of all platforms in Southeast Asia grew by 9% in 2021. E-commerce is believed to be leading the charge, with the compound annual growth rate for digital wallets set to grow by 17% until 2025.

By combing various technologies such as artificial intelligence, big data, 5G, and internet of things, edge computing is a viable solution to issues such as data latency, waste of bandwidth and possible security breaches.

Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way