Technological disruption is reshaping the payment landscape, creating a tight mobile wallet business environment. Banks must reshape their strategies that will help enhance their competitiveness in this market.
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.
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
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While the growth of Alibaba and Alipay as well as Tencent and WeChat pay in China is well known, there have been questions about whether a similar model can succeed outside of China. Local players as well as those Chinese giants themselves are starting to show that a super-app may well succeed in other markets in Asia too.
Consumers in Thailand voted Kasikornbank as the Most Recommended and Most Selected Main Retail Bank in the 2023 BankQuality Survey; Siam Commercial Bank placed second while Line BK emerged as highly-rated digital-only bank
Disintermediation by digital wallets and decentralised finance platforms is shifting deposit business dynamics, requiring conventional banks to innovate and stay competitive
Taiwanese consumers voted E.Sun Bank as the Most Recommended Retail Bank, giving it a 13% BankQuality™ Score. CTBC Bank emerged as the Most Selected Main Bank, securing 20% of the bankable population for primary relationships
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