APAC

Gen AI to add up to $340b new value to banks: McKinsey

It will add $56b and $54b in new value to corporate and retail banking, respectively.

Gen AI to add up to $340b new value to banks: McKinsey

It will add $56b and $54b in new value to corporate and retail banking, respectively.

SMBC hires ex-Nomura banker as head of APAC private credit distribution

Yew Chuan Sim will lead the bank’s distribution efforts in APAC.

Banks face negative outlook in 2024 amidst bad loans, higher costs

ASEAN banks, however, will benefit from policy changes arising from geopolitical tensions.

Hong Kong, Thailand launch cross-border QR payment service

HSBC and Bangkok Bank serve as settlement banks.

SAP & SAP Fioneer's leadership shines: Transforming financial services with industry giants

SAP and SAP Fioneer's pivotal role in reshaping financial landscapes across the Asia Pacific was highlighted at the recent SAP & SAP Fioneer Financial Services Forum Asia Pacific.

Banks to see $1.68t of credit losses in 2024-2025

Banks globally are expected to lose $824b in credit losses in 2024.

Standard Chartered teams up with Visa to offer BNPL to cardholders

They can now split purchase repayments for up to a 36-month period.

Citi names new senior leaders for Asian banking clusters

Leadership changes abound for its investment banking and corporate banking businesses.

GBA’s financial services industry more ‘bullish’ for future prospects: PwC

Tech advancements are paving the way to new opportunities for cross-industry servicing.

Mastercard, NEC to offer in-store biometric payments in APAC

This follows Mastercard’s Biometric Checkout Program, launched in Brazil in 2022.

The Growing Trend of Fintech Solutions in Asia's SME Sector

Survey Reveals Asian SMEs' Growing Interest in Fintech for Alternative Financing

Greenwashing in banking: real concern or overblown issue?

Reputational risks abound for those who drag their feet about sustainability or engage in greenwashing.

Citigroup to redeem $1.49b in preferred shares for $25

Any quarterly dividend declared, but not paid prior, will be paid on or before the redemption date.

Citigroup’s net income rises 2% to $3.5b in Q3

Revenue was 9% higher at $20.1b during the quarter.