Singapore
Chinese private banks lead Asia's wealth management business
Chinese private banks lead Asia's wealth management business
The assets of top Chinese onshore private banks grew 25.5% whilst Asia rose by a mere 7.4% in 2013-2017.
Asian private banking assets hit $2.01t in 2017
The world’s wealthy are increasingly turning to Asia.
DBS launches online remittance service for non-customers
SmartSend allows money transfers to Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, the UK, and the US.
Singapore refuses to compel banks to divulge open banking data
The central bank is taking a more organic approach, enabling banks to share data on their own.
Citi links rewards points redemption service with Samsung Pay
It will be available for customers in Southeast Asia and Oceania by 2019.
APAC banks plan to use automated collections systems by 2019
Seven in 10 banks intend to utilise AI to streamline bill payments.
Singapore amongst the most open to digital banking
Almost half believe non-banks provide better assistance than traditional banks.
Singapore cautions banks against cybersecurity attacks
This follows an attempted hacking using the SWIFT system in Malaysia.
Weekly Global News Wrap Up: BofA halts lending to firearm makers; US watchdog may slap record fine vs Wells Fargo
And here’s the real cost of Brexit to the UK financial services industry.
Construction firms' on-time payments boost Singapore banks
NPL ratios tied to the construction sector were 0.2%-0.8% at year-end 2017.
Bank of China and ICBC to offer PayNow
There are now nine banks using the service.
DBS integrates PayNow into API system to reduce cheque usage
They aim to reduce corporate cheque payments by 30% in 2020.
Local banks lead digital charge in Singapore
DBS stays ahead of the pack after growing its digital team since 2009.
Singapore banks' 3-month SIBOR up 1.51% at end-March
Fixed deposit rates from Singapore banks rose concurrently by 17-30 bps.
Weekly Global News Wrap Up: Barclays to pay $2b fraud fine; Should Deutsche Bank reduce its US business?
And US Treasury supports easing raps on banks not lending to the poor.
Singapore banks set to co-write guide for ethical use of AI
The guide, to be developed by MAS, is targeted for completion by the end of 2018.
Singapore banks' loan growth hits 3-year high
Higher credit card and car loans pushed bank lending up.
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