According to a TABInsights survey on technology investment, FI in APAC prioritise data management, advanced analytics and digital banking capabilities

China’s private banking sector has witnessed a significant migration of high-net-worth individuals to the country’s largest banks, underscoring a flight-to-safety trend and intensifying competitive pressures for smaller banks.

From 2019 to 2023, the share of consumer finance relative to total retail lending declined in Hong Kong and South Korea, but increased significantly in the Philippines.

China’s bank-backed fintechs, such as CCB Fintech and OneConnect, grapple with profitability, fierce competition from tech giants and evolving regulatory landscapes.