The financial services industry is undergoing a massive shift to cloud, but the challenging technology transition for incumbents requires a strategic rethink of architecture, data, people and processes.

The global financial industry has evolved as a result of the widespread digital transformation of traditional banks and the entrance of new digital banks. In the Middle East, the legal framework is slowly developing, which will open up the market to more digital banks.

Basel regulators are trying to finalise changes on how to calculate banks’ risky assets. But US and Europe are at loggerheads about what these should look like. After postponing a decision in January, and failing to reach a conclusion in early March, a compromise is proving to be tricky.

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.

Emerging new competition, changing customer expectations, and reduced profitability are forcing banks in India to revisit their strategic business and operating models as well as their digital transformation and technology innovation strategies.

Vietnam’s banking sector has taken significant steps to comply with Basel II requirements. However, more measures are needed to create an effective and integrated risk management framework in the banks.

De-risking has proved to be more than the exiting of businesses for Asia Pacific’s trade finance industry. A strategic shift is underway which might just change the nature of trade finance for years to come.

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

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

North America demonstrated the highest overall strength, followed by Asia Pacific and the Middle East, with all banks in the ranking averaging decline in return on assets from 0.76% to 0.74%, and improved gross non-performing loan ratio from 1.8% to 1.65%

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

In 2023, China’s domestic systemically important banks grew to 20, led by China Merchants Bank in the TAB Global 1000 World’s Strongest Banks 2023 ranking, but some still require more capital despite improved capital ratios