Piyush Gupta, chief executive officer of DBS Singapore, received the highest remuneration among bank CEOs in the Asia Pacific region in 2016, while top executives of many Chinese banks had high reductions in their compensations.

With the entry of financial technology disruptors, banks in Asia Pacific are putting greater focus on technology and operational excellence to enhance customer service and the overall transaction banking experience.

The gross retail banking income for the entire region will grow by 8% by the end of 2017 after showing a year-on-year growth of 7.5% in 2016 and 10% in 2015.

Competition is forcing banks to improve the digital experience of their customers. Banks are focused on investing in mobile technologies, data analytics, security and cloud computing.

ICBC (Macau), HSBC, Hang Seng Bank, ICBC, and Public Bank complete the top five strongest banks in the Asia Pacific region.

The incumbent outlines its response to an increasingly fragmenting payments landscape offering to support old and new customers alike by helping them de-risk major technology investments with the provision of a gateway service.

Regulators in Asia Pacific such as Indonesia's OJK are actively planning for measures to promote the growth of fintech in the region.

The development of digital platforms that enable direct global money transfer is a nascent but fast growing business model from the remittance industry. The model does not envisage traditional banks as part of the long term plans, and competes with the largest global money operators head on.

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.

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

Remittances slowed in 2014 mainly due to exchange rate volatility, as remittances are reported in US dollars.

Despite considerable variations within the Middle East and Africa, the banking sector as a whole achieved good financial performance in 2014