Staff Reporter
Thailand’s Beam raises $2.5m in seed funding
Beam offers a one-click checkout solution for seamless payments.
Why a hybrid platform is the answer to banks’ digital advisory woes
Customers seek confidence and clarity from financial advisers.
ADB inks MOU with R3 to explore use of distributed ledger tech
This includes a project exploring a cross-border multi-currency securities settlement system.
MAS, UNDFC to develop integrated financial ecosystems for MSMEs
The project will focus on enterprises from least developed countries.
Sound underwriting shields South Korean banks’ from housing market downturn: Fitch
Unsecured personal loans and small business loans are bigger risks.
EastWest Bank, JCB launch credit card in the Philippines
Customers can access several rewards and year-round promotions.
Australia’s biggest banks to pay $84.51m for insurance lawsuit
CBA, Westpac, and ANZ allegedly misled customers by selling or issuing policies of no value.
Thailand’s KBank earmarks $5.53b for sustainable funding, loans
The bank says it will grant the funding and loans to 1.9 million small pocket customers.
Weekly Global News Wrap: Goldman Sachs promotes 80 bankers to partners; Citi to buy Deutsche Bank's Mexican license
And Sweden's central bank encourages banks to moderate dividends.
MAS grants Atome in-principle approval to be a Major Payment Institution
Atome can now perform regulated payment services in Singapore.
RBC Wealth Management names Kamran Azim as COO for Asia wealth business
He will be based in Singapore.
Dah Sing Bank reopens Tuen Mun Branch
It was temporarily closed for cleaning and disinfection.
Interest rates will be Singapore banks’ boon and bane through 2023: analyst
It’ll benefit them over the next three quarters, but asset quality may deteriorate after.
Digital wallets and contactless payments see a steady rise across Asia
The banking industry must adapt to this change to keep up with the demands of the market.
ZA Bank launches tax loan with early repayment handling fee waiver
Users may avail of a 10% interest rate discount when applying for the loan before 30 November.
Alternative payments inch closer to e-commerce domination in New Zealand
The growth of BNPL has pushed up adoption of alternative payments.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Union Bank of the Philippines ‘aggressive’ growth strategy brings more problem loans 4. Bank of America appoints Phil Carmalt as head of APAC GPS 5. HSBC Singapore unveils wealth centre at The Star Vista mallResource 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