Banking Technology

In a surging digital economy, the country is poised to make its mark.

Half of its ATMs in Japan shut down on 28 February despite a $3.7b system upgrade just two years ago.

Its repeated technical glitches pushed India’s central bank to take action.

Local retail investors can now access GSAM’s fund through seven retail distributors.

SME business owners need only to face the camera to authenticate their application.

It will facilitate local collections through payments platform provider 2C2P.

It will launch retail banking services in H1 2021.

The webinar discussed trends in digitisation and how banks are effectively using data to enhance processes.

Financial firms should analyse and share threat intelligence within the ecosystem.

Investors see the virtual currency as a safe asset amidst new coronavirus outbreaks.

Consumers are willing to trade their personal info for more tailored service offerings, says Accenture's Paul Ng.

With smart phone usage growing year over year, mobile banking is the preferred method of customer engagement with banks. In Singapore alone, a third of the adult population is projected to have a digital bank account by 2025. We can expect this number to grow rapidly with the recent announcement by the Monetary Authority of Singapore (MAS) on awarding digital full bank licences to non-banks. This move means the increase in personalisation and convenience for consumers, with all-in-one banking services at their fingertips 24/7.

Without a doubt, COVID-19 is rapidly changing the way business is done and this is visible across industries. For players in the financial services sector, in particular, customer interactions are swiftly switching from physical to digital.

Citi Asia Pacific Treasury and Trade Solutions (TTS) has appointed new leadership for data and innovation, effective immediately.

It has achieved a 96% accuracy rate, based on internal tests by the bank.

Half of respondents said processes are still too manual.