Frances Gagua

About 750 new accounts have been opened in four APAC markets through the new portal.

UnionDigital will be a wholly-owned subsidiary of the Philippine lender.

The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.

Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.

Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.

It opens up new revenue models and lowers the cost-to-serve.

Bypassing credit cards, the payment instalment options prove to be attractive.

More banks and institutions are exploring its use for payments and cross-border transfers.

Fund injection is meant to keep banking system liquidity reasonably ample, PBOC said.

They also set a fresh record for half-year increase in household loan value.

This is the first time that the city detected a money laundering case with cryptocurrency.

It will be used to extend foreign currency trade to local banks and businesses.

Banks' slow development of digital financial services may just give fintechs an edge.

According to Singapore’s largest bank DBS, the volume of cash deposits and withdrawals fell by an unprecedented 11% in the first 3 months of 2020, a 6% fall from where the figure had been since 2017. Coupled with extraordinary growth in the adoption of e-payments, it’s safe to say that COVID-19 has altered consumer behaviour—and fast. 

They need to pump money into lenders before selling them if they want to make them more attractive to potential buyers, reports S&P.

The rising number of COVID cases will delay the return to normal repayment schedules.