Industry experts from technology companies highlight the rapidly evolving customer needs, business models and payment landscape that force institutions to strategically rethink their technology for transformative disruption
In this conversation, David Moser, author of “A Billion Voices: China’s search for a common language”, talked about the political and cultural backdrop behind the adoption of Putonghua as the lingua franca of China.
Global mobile phone users are projected to reach 4.8 billion by 2025, compared with 2.8 billion users in 2020. Businesses are tapping into this vast market as mobile wallets gain an increasing share of the payments market.
Military Commercial Joint Stock Bank (MBBank) has been named among the Best Companies to Work for in Asia 2021 by HR Asia, Asia’s leading HR magazine, for the first time.
Saudi Arabia-based Al Rajhi Bank retained its position as the largest and strongest Islamic bank in the world, with total assets amounting to $125 billion in 2020. The aggregate total assets of the 100 largest Islamic banks in the world grew by 12% in 2020, while the aggregate net profit of these banks contracted by 15%.
The top ten remained largely unchanged in the ranking of the largest banks in Asia Pacific, while HSBC slipped two places to rank 13th due to the stronger growth of Chinese banks and the appreciation of the RMB against the US dollar.
The financial performance of the Hong Kong and Singapore banking sectors remained relatively strong. The COVID-related relief measures eased the short-term pressure on banks’ asset quality and capital adequacy.
Emmanuel Daniel, founder of The Asian Banker and Wealth and Society, discussed the "three faces of wealth". He talked about wealth as an asset, its role in society and how people should be managing their wealth today.
Binance, one of the world’s leading digital assets exchanges, calls for smart regulation as it tries different means to work with regulators.
Six cryptocurrency industry executives appeared before the US Congress to argue that cryptocurrencies hold promise for the future, as regulators mull how to bring the more than $2 trillion market under government oversight.
Fraud continues to be a key concern of financial institutions (FIs). The increasing cases of fraud underscore the need to focus on processes and technologies offering mitigation and prevention, as well as the priorities stressed by regulators. Meanwhile, there are persistent gaps in the FIs’ practices that need attention.
Ethereum, Terra and Binance Smart Chain (BSC), the top three largest DeFi blockchain networks, represented 76.5% of all DeFi activity. Ethereum is facing stiff competition from other DeFi blockchains and is moving to Ethereum 2.0.
As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.
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