The most competitive digital retail financial institutions come all but from China, and the elite club of the top 10, representing all non-bank financial players, are exclusively from China, Korea and Australia

CaixaBank in Spain and South American bank Itau Unibanco topped this year’s inaugural Global Retail Bank Ranking

China's e-commerce rebounded in 2023, with Pinduoduo's remarkable performance surpassing that of Alibaba and JD.com. Alibaba responded with the 'Year-End Good Price' festival, emphasising a 'low price strategy.'

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

Nubank has reported its first full-year profitability since its launch in 2014. Nearing 100 million customers, the bank has set new benchmarks in revenue

The top 10 digital banks saw revenue grow from $41 billion in 2022 to about $49 billion in 2023

China’s retail banking sector faces regulatory and macroeconomic pressures that are lowering revenues and profits, with banks turning to AI and technology to boost growth and customer engagement

Southeast Asia’s platform players Grab, GoTo, and Sea Group streamline operations, with Sea Group emerging as a leader in profitability and growth