New proofs of concepts have emerged in blockchain as the industry tackles various impediments to its successful adoption. The technology initiatives would need to be complemented with stronger collaborative efforts and interoperability for future growth.

De-risking has proved to be more than the exiting of businesses for Asia Pacific’s trade finance industry. A strategic shift is underway which might just change the nature of trade finance for years to come.

The advent of new technologies is driving rapid upgrading of national payment systems around the world that are enabled with rich data and real-time capabilities.

It is not often that a technology comes along that forces a rethink of traditional business models. Blockchain, a technology that originated from an anti-establishment alternative to fiat currencies, is fast finding applications in a myriad of financial use cases

The Asian Banker recently updated the bank profile of Vietnam Prosperity Bank Joint Stock Commercial Bank (VPBank).

The Asian Banker recently updated the bank profile of Asia Commercial Bank. The bank is focused on boosting its competitiveness in the Vietnamese market.

China Merchants Bank and China CITIC Bank are developing their credit card businesses to stimulate retail income.

Despite current economic challenges, Vietnam’s banking sector has promising longer term potential due to its relatively young and increasingly affluent population.

The contribution of consumer finance to the overall retail loans in Asia Pacific in 2015 ranged from 2% to 56%. Its share to retail loans has increased in markets like Indonesia but has declined in Hong Kong and Thailand. The growth of consumer finance per country also varied, slowing down in Taiwan and growing faster in the Philippines.

While crowdlending in Asia Pacific shows early promise, its fate will be dictated by how regulators and banks respond to the challenges they pose.

Innovations emerging from East and West African banking hubs are enabling the sector to take a lead in reaching Africa’s unbanked population but much remains to be done.

New payment options in the market are creating new opportunities, making competition fiercer, and reducing the use of cash and cheques.