Singapore

Many banks across the Asia Pacific (APAC) geography are implementing Core Banking products. These banks expect that a modern Core Banking product would give them a competitive edge, the ability to launch new products faster, lower operational costs and improve customer service. Unlike Europe or America, which are large with fairly standard banking offerings, the APAC geography is actually characterized by much more variety in its range of offerings.

The shift in the wealth management landscape from a client and regulatory perspective have significant technology implications for Asian Wealth Managers. There are three key areas in Wealth Technology that is taking centre-stage; namely, an increasing focus on client-centricity, using compliance as a competitive advantage, and a relentless focus on lowering the cost to serve through platform change.

Over the past couple of months, Europe has been at a crossroads. Ever since the fears among investors intensified in late 2010 regarding the financial stability of the southern European member countries, first and foremost Greece, European political leaders have implemented and applied a vast amount of tools to fend off the looming debt crisis. The current goal among Europe’s political elite is to prevent the debt crisis from spreading to bigger and too-big-too-bail-out economies in central and northern Europe and thereby to keep the Eurozone from breaking apart. These developments are closely watched by Europe’s economic partners, especially the US and Asia. Focusing on Asia in particular, the big question for Asian politicians, economists and market participants is now: how has or will the sovereign debt crisis in Europe affect Asia? Although the answer is everything but trivial, it is generally believed that Asia will most likely be affected in two ways: trade and finance.

The year 2012 has not been good for the Asian banking industry. Credit growth is falling in most Asian countries. For instance, new lending by the four biggest Chinese state-owned banks was flat in April and May 2012. There are multiple reasons for this. The primary reason is the slowdown of real GDP growth in most Asian countries. Newly released macro data predict a slump in the economy in those countries. Due to the expectation of a weak economy, the demand for new credit is not as strong as in previous years. Weak exports to the Eurozone and the U.S. will likely cause damage to the manufacturing industry in export-oriented Asian countries and reduce their demand for bank loans. The slowdown in real GDP growth and trade growth predicts a likely surge in non-performing loans in the Asian banking industry.

But bankers say that those with higher FX volumes could conduct such activity online.

Foreign banks are now forced to decide whether to further commit to the Singaporean market and compete with domestic banks neck-to-neck, says ADB.

Data from Temasek showed that resources and energy accounted for 6% of its portfolio as of the end of March.

ICBC became the first Chinese lender to take a controlling interest in a U.S. bank after completing its 80-percent purchase of BEA.

Two Chinese banks will be granted Qualifying Full Bank privileges in Singapore wth one of them to be also authorized as a clearing bank for Renminbi.

The world's biggest banking show will be back in Singapore after 12 years and promises to be a showstopper at the Marina Bay Sands.

Singapore takes an unusual step to protect its banking sector amidst the ongoing international financial crisis.

Barclays’ troubles and Bob Diamond’s resignation have not come as a surprise to experienced London bank-watchers. They have been brewing for years and came to a head last week when the LIBOR-fixing scandal broke. It was very clear which bank Sir Mervyn King had at the front of his mind when he called for leadership of an unusually high order and changes to the structure of the industry. He then went on to blast the banks for ‘excessive levels of compensation, shoddy treatment of customers, deceitful manipulation of one of the most important interest rates and… yet another mis-selling scandal’.

As various services and products emerge across Asia and trade is settled in different currencies, we sought the insights of bankers and analysts for possible hedging solutions.

We’ve heard a number of announcements lately about new mobile near-field communication (NFC) devices.

Customer service in banking is one of the most important ways to keep customers coming back. It includes responding to customers’ questions and complaints in a thorough and timely manner.

Maybank is prepared to locally incorporate its retail operations in Singapore according to the city state’s government requirement.