The COVID-19 pandemic has exerted substantial impact on the profitability of banks in Asia Pacific, although most are better positioned to weather this crisis than during the global financial crisis
As the race towards digitalisation intensifies, the relationship between banks and “big tech” companies is increasingly marked by collaboration and synergy, not just competition
The financial services industry is undergoing a massive shift to cloud, but the challenging technology transition for incumbents requires a strategic rethink of architecture, data, people and processes.
As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.
Despite weak growth in the banking industry last year, UOB managed to grow its SME deposits significantly and reported the lowest CIR among its peers. It was also the first bank to announce $2.2 billion in relief assistance in February 2020, ahead of any government support measures. It was the leading provider in government’s assistance schemes to SMEs with the largest market share.
The inaugural BankQuality™ Consumer Survey and Rankings in the Middle East interviewed 3,000 customers in three key markets in the region on their engagement, experience and satisfaction with their main retail banks.
Tech giants, which make up some of the world’s largest companies, are muscling into traditional banking spaces. But whether they want to crush the traditional finance players or enable them, they are learning across the globe that disrupting well-regulated banking systems is easier said than done
While fintechs may take some market share away in specific niches, the partnerships, analytics, and value-add that leading banks are developing can keep head of the game. Banks that fail to keep up could lose a significant share of their SME business
As real-time processing becomes the norm in domestic payments, how long would it take for cross-border payments to catch up?
Electronic channels and bank agnostic platforms are transforming traditional trade finance functions across Asia Pacific
The Asia Pacific banking industry will continue to see a rise in demand and salary among highly skilled technical workers in the backdrop of ongoing digitalisation.
The rapid digitalisation of MSMEs, emergence of new digital-native business models and niche segments have become a key focus area for financial technology companies to serve.
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