Despite the strength of their balance sheets, Asia Pacific banks continue to face massive challenges in growing profits, a conundrum created by modern capital rules.
The annual Asian Banker 500 largest banks ranking does not only measure and track the numerical changes in asset size but also the fundamental transformation of these institutions as they confront an unprecedented level of disruption on various fronts; regulation, technology, competition and customer.
President Xi Jinping’s pet project – “The Belt and Road Initiative” – aims to link Asia, Europe and Africa by rewriting global trade routes. With such a big project, China’s accompanying motivations are also enormous. Be it on an economic, political or strategic-level, the project is sold almost as a catch-all solution.
Recently appointed chief executive officer of BankBazaar International, Vipin Kalra, shares his views on emerging trends, changing operating models in the financial services industry, and key challenges, as he drives the international expansion of the online marketplace company.
Retail asset quality pressure will persist in the Asia Pacific region, due to slower economic growth and worse employment situations. However, the downside risk to banks’ retail asset quality will remain manageable, as regulators and banks continue their efforts to better manage credit risk.
Renu Satti, chief executive officer of newly launched Paytm Payments Bank, discusses the impact of demonetisation and regulations on cashless transaction in India, the bank’s role in serving the unbanked consumers, and driving digital transformation of the industry.
The last four years have been considered the worst for Thai banks in retail banking. Despite a meagre income and loan growth, banks have been working hard to improve operating efficiencies, re-balance portfolios, and build digital platforms to support the country’s next phase in e-payments, internet financing and micro lending.
As retail banks look at how to deliver an even better customer experience, while also bringing down expenses and improving efficiency, chatbots are becoming an increasingly popular option for adding high value at a low cost.
Financial institutions, from incumbent banks to alternative financial players, have been experimenting and investing in innovative solutions to address the persistent cyber-threats and attacks from malicious parties.
This year’s annual leadership dialogue was held in conjunction with the inaugural The Future of Finance Summit to discuss how new business models and technology are disrupting and transforming the industry.
Disruption and disintermediation from new market players are forcing banks to realise the urgency of rethinking futuristic strategic models and redesigning processes towards frictionless customer journey.
The advent of internet and the advancement of technology are paving the way for new players to enter the market and fill the gaps in financial services.
Globally, banks and non-banks are testing whether QR codes to merchants and consumers can provide a simple solution for payments.
Dilan Rajasingham, head of emerging technology at Commonwealth Bank of Australia, discusses the bank's venture into the internet of things (IoT) and its consequences for the financial services industry.
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