News
AI drives 1500% growth in deepfake fraud across APAC
AI drives 1500% growth in deepfake fraud across APAC
Sumsub integrates AI tools to combat deepfake threats and fraud networks.
Fraudsters use digital injections to bypass camera verifications
Deepfake software could create loopholes in identity systems.
SGQR+ simplifies payments with unified contract for merchants
It streamlines payment processes and improves reconciliation.
Hong Leong Bank blends digital innovation with human touch
Digital-first transformation used to meet modern customer demands.
Australia targets scams lifecycle with new prevention framework
The framework imposes obligations across digital platforms, banks, and telecoms.
OCBC taps Citi alt chief executive to lead Hong Kong consumer and wealth businesses
Josephine Lee had served as wealth head for retail banking in Citi Hong Kong.
Mongolian banks to benefit from government’s improve support capacity
Eight banks retained their stable outlooks, according to Moody’s Ratings.
Six Bangladeshi banks grapple with higher NPLs and gov’t risks
Three banks will see more BNPLs; two banks face deteriorating asset quality.
Southeast Asia’s BNPL market to reach $53.2b by 2027
Malaysia, the Philippines, and Indonesia are the most promising markets.\
Atome Financial clinches $200m facility for SEA expansion plans
The digital payments platform reported that it turned EBITDA positive in Q1.
Norinchukin Bank reports JPY893.9b in losses for H1 FY2024
Its capital ratios have increased.
Crypto exchange OKX unveils zero-fee SGD deposits and withdrawals
The deposits and withdrawals will be facilitated by local bank DBS.
India’s deposits surpass loan growth in Oct-Nov 2024
Higher term rates helped push up deposits, according to CareEdge.
Mobile banking threats grow with advanced AI tactics
AI powers mobile banking defence against rising cyber threats.
AI drives fraud prevention with behaviour-based anomaly detection
Fraud detection, data quality, and fostering trust are amongst AI’s top roles.
Digital wallet transactions scale easily via cloud environments
Digital wallets are driving demand for scalable payment solutions.
Poor preparation hinders AI’s potential in financial services
Readiness and governance are the key to success in AI adoption.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Bank of America appoints Phil Carmalt as head of APAC GPS 4. HSBC Singapore unveils wealth centre at The Star Vista mall 5. Citi names Goldman Sachs banker as head of markets solutions in Asia South & NorthResource Center
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Cards & Payments
Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
Commentary
The Asian connection: China's path to sustainable growth