Vladislav Solodkiy, managing partner at Life.SREDA, a Singapore-based financial technology (fintech) venture capital firm, shares his thoughts on the establishment of fintech banks and its difference from traditional banks.
With the entry of financial technology disruptors, banks in Asia Pacific are putting greater focus on technology and operational excellence to enhance customer service and the overall transaction banking experience.
The Asian Banker annually releases its AB500 ranking and survey of Asia Pacific's strongest banks, an evaluation that is based on a belief that a strong bank demonstrates long-term profitability from its core businesses. Let us take a look at this year's 500 strongest bank in the region.
New players and technologies continue to drive change in the transaction banking space in Asia Pacific, causing incumbent banks to focus more on improving customer experience and reviewing existing business models.
Xueyuan Han, chairman of Hanfor Holdings, shares how the company started its core businesses, the products and services it offers, and the role that financial technology plays in transforming the organisation.
Jim Lai, head of Tencent Financial Technology Department, shares how the company became one of China’s top financial services providers and how a customer-centric internal culture resulted in effective and cost-efficient products.
Shengqiang Chen, chief executive officer of JD Finance, the financial subsidiary of JD.com, one of the largest e-commerce companies in China, discusses the company’s relationship with banks and retailers, how it has evolved as a financial technology organisation, and its future plans.
Preventing money laundering is no easy feat, not with both the criminal environment, and product and service risks posing as main hindrances. Frankly, it is up to banks and regulators, such as the Australian Transaction Reports and Analysis Centre, to collaborate and solve this problem.
Although Middle Eastern banks experienced a contraction in profitability, their overall capitalisation and liquidity improved with the gradual adoption of Basel III regulations. In Africa, asset quality and capitalisation are the key concerns.
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.
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