Mobile payments are expected to surge in the next few years, driven by technology and analytics. However, banks are facing tough challenges from non-bank competitors offering more attractive services.
Increasing adoption of digital payments has resulted in stiff competition within the industry. Non-bank payment players have become more aggressive, aiming to grow into full scale financial service providers.
ICBC (Macau), HSBC, Hang Seng Bank, ICBC, and Public Bank complete the top five strongest banks in the Asia Pacific region.
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