APAC
Mastercard Pay Local links cards to APAC wallets
Mastercard Pay Local links cards to APAC wallets
It allows consumers to use their Mastercard cards at over 35 million merchants.
Gov’t support keeps APAC banks stable
Each market has their own problems, such as floods and weak property demand.
Weekly Global News Wrap: Ayala sells part of GCash stake; Some FIs halt trading with Nomura
And Jamie Dimon blasts several US regulatory initiatives.
BNY appoints Fabian Khoshbakht as head of APAC treasury services
He will remain the treasury services head of Client Insight and Innovation.
BIS, central banks embed regulatory compliance in cross-border payments
Project Mandala has now reached proof of concept stage.
Citi launches Citi Digital Bill to speed up monetization of receivables
CDB enables parties to sign, accept, endorse, and finance a digital bill.
Banks’ profitability to decline in 2025 as interest margins narrow
Commercial banks may cut personnel, and regulators may prioritize stability over staff retention in M&As.
Banks’ CX, customer loyalty to decline in 2025: Forrester
They may end up pushing away customers when they adopt digital strategies the wrong way.
BofA sees 51% rise in API use for real-time treasury needs
Business clients are using APIs to simplify onboarding and accelerate transactions.
Citi sees higher markets-related business in Asia from global investors
Client activity with the bank’s international corporate clients to the Asia market is up 12% in the first three quarters of 2024.
Payments’ revenue to grow by $700b in the next five years
APAC accounted for $1.1t of payments revenue as of 2023.
JP Morgan, UBS named top M&A financial advisers in APAC
They ranked number one in terms of value and volume of M&As in 9M 2024.
BofA launches guaranteed FX rates with up to a 1-year tenor
The 1-year tenor is available in 37 currency pairs.
Swift to launch AI fraud detection service in 2025
Global fraud in financial services is estimated to have cost $485b in 2023.
BNY partners with Mizuho to boost trade
It seeks to reduce the complexities and costs associated with cross-border transactions.
Banks face value creation challenge despite record revenues
Declining interest rates and mixed record on productivity growth keep markets skeptical.
Japan and Indonesia renew their bilateral swap agreement
The size of the BSA is up to $22.76b or its equivalent Japanese yen.
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Navigating liquidity challenges for VCs in Asia Pacific
Show, don’t tell: Asian banks need to prove simplification works – here’s how