APAC

IT leaders told to prioritise basic strategies to unlock AI potential: report

Around 70% of companies have implemented formal data strategies for their IT locations.

China, Philippine banks most impacted with rate cuts: Fitch

Their net interest margins are likely to decline until fiscal year 2026.

Ant International joins SWIFT program exploring cross-border treasury mgmt

The program explores business scenarios on cross-border end-to-end transactions.

Asian banks score poorly in accountability mechanisms: survey

Across four key areas, the banks scored 3.5/10 on average.

Standard Chartered eyes $200b in net new money in next five years

The bank plans to expand its relationship manager team by 50%.

Deutsche Bank unveils Merchant Solutions in Australia, India, Indonesia, and SoKor

It is a global payment acceptance platform that gives access to local payment methods in a market.

Global body eyes broader use of unique ID by SMEs

Cross-border payments, supply chain and trade, and ESG will drive greater adoption.

Mastercard, ADB promote financial inclusion in APAC MSMEs

Mastercard’s fund is allotting $5m to the ADB.

Financial crimes to continue to squeeze bank profits

More sophisticated crooks and stricter rules are expected to increase compliance costs.

Asia’s finance leaders put transformations on hold due to cost challenges

Cost allocation remains a key focus for finance leaders in 2024.

Up to $50b of wholesale banks’ revenues at risk

But there’s about $15b in additional revenue up for grabs through 2027.

Patents for 3D secure transactions nearly double in 2023

Payment entities are looking to strengthen their security to combat online threats.

Private fund tokens may be the future of investing

Kinexys seeks to keep a token’s sensitive financial information from prying eyes.

Few banks capture tech spending benefits: report

Global tech spending on banking hit $650b in 2023, but few benefitted.

Mongolian banks to benefit from government’s improve support capacity

Eight banks retained their stable outlooks, according to Moody’s Ratings.