In the recently released Global Fintech Hub Report 2021, Beijing was named the best fintech hub, followed by San Francisco, New York, Shanghai, Shenzhen, and London.

In addition to leading their institutions to support customers and communities, some bank bosses are also taking pay cuts or making charitable donations to support the fight against the COVID-19

Digital banks in Asia Pacific witnessed improving overall profitability in FY2019. Although some digital banks’ net profit in FY2020 has been affected by COVID-19 pandemic, their growth outlook remains optimistic.

Digital-only banks pose serious challenges to the traditional financial services industry with their entirely new banking experience. However, for most of them, licensing, scale and profitability are the three key issues they must face going forward.

WeBank of China, Ally Bank in the US, and the retail arm of ING Group, topped The Asian Banker's the inaugural global ranking of leading digital banks.

A whitepaper just released by Honghu Best Global Family Office and The Asian Banker, "Global Family Office and Wealth Management Best Practices 2021 - Global Perspectives, Chinese Flair" reveals that succession planning is critical to intergenerational wealth transfer. However, most families do not prepare or plan for a smooth transition, leading to the partial or even full loss of wealth or family values that need to be passed on.

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.

The push for climate change considerations puts pressure on financial services companies to develop and use advanced technologies such as blockchain that promises improved governance.

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.

Commercial banks such as DBS Bank and traditional exchanges such as the Singapore Exchange have one thing in common: they are setting up and adding digital exchanges and platforms to their existing business lines.

The World Federation of Exchanges (WFE), a global industry group for central counterparties (CCPs) and exchanges, recently published its 7th annual sustainability survey. The survey takes into account the nature and extent of ESG involvement by WFE members.

As demand for sustainable products rises, stakeholders including consumers, investors, and regulators are pushing manufacturers, suppliers and lenders to incorporate ESG metrics in evaluating the performance of their supply chains.