Frances Gagua
OCBC enables Singaporeans to directly view, pay tax in digital bank platform
OCBC enables Singaporeans to directly view, pay tax in digital bank platform
Customers have the option to pay their tax balances in full or partially.
Citi Commercial Bank enables digital account opening in Hong Kong, Singapore
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionBank clinches Philippines’ 4th digital bank license
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
Digitalisation creeping into non-tech roles as Singapore banks accelerate hiring
The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.
Japanese corporates’ loan demand shrunk in April-June: survey
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
India’s private banks to widen gap with state peers when economy rcovers: report
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
Banks must leverage APIs to stay ahead amidst the open revolution: Deloitte
It opens up new revenue models and lowers the cost-to-serve.
'Buy now, pay later' speaks to convenience as more Filipinos remain unbanked
Bypassing credit cards, the payment instalment options prove to be attractive.
ASEAN regulators ramp up blockchain adoption as tech expands beyond crypto: analysts
More banks and institutions are exploring its use for payments and cross-border transfers.
China’s central bank rolls over $15.46b maturing mid-term loans: report
Fund injection is meant to keep banking system liquidity reasonably ample, PBOC said.
Mortgage loans drive up South Korean banks’ household loans in June
They also set a fresh record for half-year increase in household loan value.
Hong Kong arrests 4 in alleged $155m crypto money laundering case: report
This is the first time that the city detected a money laundering case with cryptocurrency.
Bangladesh’s City Bank clinches $30m trade finance loan with UK’s CDC
It will be used to extend foreign currency trade to local banks and businesses.
Fintechs could overtake Philippine banks in retail segment: Moody’s
Banks' slow development of digital financial services may just give fintechs an edge.
Secret Sauce for the Banking Industry
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.
India’s banking system privatization plagued with capital, regulatory woes
They need to pump money into lenders before selling them if they want to make them more attractive to potential buyers, reports S&P.
Indonesian banks’ risks rise as new wave of infections dampen economic recovery
The rising number of COVID cases will delay the return to normal repayment schedules.
Commentary
Beyond the code: How mobile banking is weaving a new financial narrative in Asia