Global and regional cash management banks across Asia-Pacific are making substantial investments in digital initiatives to enhance the overall transaction experience of their clients.
Global and regional cash management banks across Asia-Pacific are making substantial investments in digital initiatives to enhance the overall transaction experience of their clients.
New players and technologies continue to drive change in the transaction banking space in Asia Pacific, causing incumbent banks to focus more on improving customer experience and reviewing existing business models.
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.
Consumers chose Indonesia’s Bank Central Asia as the Most Recommended Retail Bank, and DBS Singapore as Most Selected Main Bank in APAC in the 2023 BankQuality Survey
Indonesia’s Bank Central Asia, DBS Singapore, South Korea’s Toss Bank, and China’s Alipay were voted the Most Recommended Retail Bank, Most Selected Main Bank, Most Recommended Digital-only Bank and Most Recommended Platform, respectively, in the 2023 BankQuality™ Consumer Survey
Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way
Disintermediation by digital wallets and decentralised finance platforms is shifting deposit business dynamics, requiring conventional banks to innovate and stay competitive
BoA, UOB and Deutsche Bank are the winning transaction banks in Asia Pacific in The Asian Banker Best Transaction Bank Rankings 2023, with leading positions in customer experience, technology and innovation, and digital capabilities
The financial services market size in the metaverse is predicted to drop from 22% to 6% by 2030—its fall from tech wonder to half-baked idea in financial services requires differentiation in its value proposition to secure success
A prominent player in Southeast Asia’s digital finance sector, the group saw significant growth in 2023, cutting losses by 29% despite a challenging economic environment
The popularity of Bank Central Asia reflects a trend of traditional banks embracing digital innovation to meet customer preferences
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.