Customised financial advice had, for many years, been available almost exclusively to private banking clients or to the mass affluent. However, robo-advisors are offering the same advice to many more consumers. Customers in Asia, from the man on the street to the ultra-wealthy, seem ready to embrace these new robo-advisors.

Credit card issuance and usage wane as digital and mobile payments increase in popularity.

While many financial institutions in emerging markets are trying to strike the right balance between their physical footprints and digital presence, leading banks in mature markets are proving that digital transformation can boost profitability and efficiency.

Digitisation in the cross-border money transfer industry might leave fewer opportunities for incumbent banks and operators to grow. How they cultivate alliances and digital innovation to stay ahead of competitive will be critical moving forward.

Increasing adoption of digital payments has resulted in stiff competition within the industry. Non-bank payment players have become more aggressive, aiming to grow into full scale financial service providers.

Shinhan Bank has launched Korea’s first full service biometric-enabled and unmanned smart digital kiosks that allow customers to do financial transactions through real-time video interaction without the need to visit a physical branch.

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

Formal financial institutions have connected only 22% of the Indonesian population. A huge potential for the financial sector still needs to be explored, and digitised lending, which combines retail banking with financial technology, should be a future solution.

Banks are integrating new technologies into their core businesses to improve their digital banking presence and speed-to-deliver

As trials move into actual implementations, global financial markets and monetary systems will be disrupted and transformed.

The rapid digitalisation of MSMEs, emergence of new digital-native business models and niche segments have become a key focus area for financial technology companies to serve.

Growing transaction volumes are pushing Indian banks to rethink technology architecture to integrate cloud and data capabilities to meet growing transaction volumes. Indian fintechs and digital players see consumer growth, but also increased expectations and competition.