Until the pullback in early September, the S&P 500 has climbed almost 25% in 2020 outstripping other sectors. This points to an uneven K-shaped recovery where some parts of the economy such as technology, retail, software services and other growth sectors may recover and grow faster than others.
United Overseas Bank (UOB) increased retail banking income contribution by 15% as the financial industry grapples with digital advancement. The bank leveraged its omni-channel customer engagement model which helped grow retail deposits by 7% year on year. The bank continued to invest in digital transformation and innovation which resulted in 96% of all transactions being conducted digitally in 2019.
Central banks are undertaking extensive work on digital currencies to improve the cost, security, speed and reach of transactions to eventually accelerate the growth of cashless ecosystems, with the Chinese central bank seemingly ahead
The Asian Banker Finance China 2020 Conference on 28 August addressed the evolution of global trade and supply chains, as well as how China’s financial services industry need to transform itself, manage innovation and accelerate structural reform in a post-COVID world
At the International Heads of Retail Finance Virtual Meeting on 28 August 2020, leaders from over 22 institutions in Asia Pacific, the Middle East and Africa, discussed key trends and issues impacting the industry. The rise of digital only banks, integrating lifestyle and finance through digital platforms, and improving customer experience were at the forefront of the dialogue.
The inaugural BankQuality™ Consumer Survey and Rankings interviewed 11,000 bank customers in 11 markets across the Asia Pacific region on their engagement, experience and satisfaction with their main retail banks.
TPBank CEO Nguyen Hung shares how the bank’s digital transformation is being anchored not just on technology, but also right mindset of its staff and process.
Newly appointed ESG head for Asia Pacific at Deutsche Bank explains to Foo Boon Ping and Chris Georgiou the importance of the region to the global sustainability movement and how the bank intends to embed ESG across all its businesses
Grab is making foray into the micro investment, consumer loans and pay later products while expanding its insurance services to strengthen its reach amongst the underfinanced population of Southeast Asia
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