APAC

Banking leaders admit that they are at risk of ceasing to exist in 5-10 years.

FIs role as the middleman is under threat as tech firms mull offering financial services.

It’s a mixed bag for most SEA markets, but regulator support illuminates the future of open banking.

Lenders will have to reduce cross-border fees once CBDCs become more mainstream.

Canada remains the king of cashless countries.

A couple of former JP Morgan bankers are joining the global bank’s ECM crew in Asia.

There is a revolution going on today in the banking industry. Those bastions of privacy and money management are doing the unthinkable - with consent, they are sharing their customer data with approved third parties. In the past, banks jealously safeguarded their clients’ information. That is what clients expected of them, as well as it being a regulatory obligation. Today, they are making this information available to other players in the financial services arena, creating an unprecedented financial ecosystem built around making their Application Programming Interfaces (APIs) available to approved third parties.  

The merger was approved by the Bank of Mongolia last July.

More than one in three APAC SMEs consider switching to fintech.

The region’s large unbanked population underpins its market potential.

Dominique Jooris was CEO of Bank Pictet & Sie in Singapore prior to his new role.

They have processed close to 350 million API calls for corporate clients since 2017.

The bank said that it has raised over $30b from IPOs for its Asian clients.

Over 40 banks and financial institutions were awarded in this year’s programme.

About $354m in crypto funds, mostly Ethereum tokens, are yet to be returned.

Deals in India, Australia, Japan, and South Korea are the ones at most risk.