Staff Reporter
Financial institutions face four emerging challenges as digitisation ramps up
Financial institutions face four emerging challenges as digitisation ramps up
FIs role as the middleman is under threat as tech firms mull offering financial services.
UOB prices Singapore’s first SONIA sterling covered bond
The final order book saw that most demands come from the UK and EMEA.
Singapore, India to link PayNow, UPI payment systems by mid-2022
Fund transfers from India to Singapore will only need mobile phone numbers.
Bank of China urged to stop funding coal projects overseas
The alliance, made up of 35 NGOs, noted the bank’s alleged lack of a public policy to reduce coal investments.
Japan’s new PM a positive for banks’ earnings outlook: Jefferies
Banks’ credit costs are expected to undershoot their guidance.
Banks welcome launch of Wealth Management Connect in Guangdong-Hong Kong-GBA
BEA highlights hiring plans, whilst Citi says it will offer 100 types of wealth products under WM Connect.
Large, mid-sized Chinese banks’ capital pressures easing: Fitch
Stress test shows NPL ratio likely to rise, but not to levels PBOC expects, the ratings agency said.
Wider use of CBDCs for cross-border settlements dents banks’ fee income
Lenders will have to reduce cross-border fees once CBDCs become more mainstream.
DBS rolls out self-managed card payment control features
Users will be able to set spending limits and block cards, amongst other features.
Weekly Global News Wrap: Americans miss BNPL payments; Wells Fargo fined $250m
And Mastercard bets on crypto with acquisition of CipherTrace.
China’s anti-graft agency investigates China Development Bank VP: report
He Xingxiang is suspected for “severe discipline and law violations.”
Australia’s top banks won’t do business with crypto firms: report
Two local digital currency exchanges said that none of the top four banks would do business with them.
Indonesia’s Bank Neo Commerce teams up with Qualtrics to improve digital banking experience
It will make use of Qualtrics services to personalize its banking journey.
Financial firms urge South Korean regulators to back off internal affairs
The firms represent the insurance, commercial banking, and brokerage sectors.
MAS forms sustainability group to drive green finance agenda
Former chief sustainability officer of Thai Union Group is the head of MAS' new group.
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APAC countries dominate the world’s most cashless economies
Canada remains the king of cashless countries.
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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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Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
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