The banking industry is using AI and data strategies to meet customer preferences focusing on digital culture, secure operations, and partnerships to overcome challenges and cultivate customer-centricity

The opening plenary at Sibos 2023 in Toronto featured insights from Swift's leadership on key financial industry trends, including AI, tokenisation, CBDCs, and ESG, emphasising their role in fostering collaboration and addressing economic challenges

Rahul Rasal, head of retail banking at Security Bank, is driving the bank's growth in retail banking and its transition to a digital, open-banking future, with a focus on customer-centric initiatives and collaboration with fintech entities

At Finance Malaysia 2023, senior executives in financial services discussed digital transformation and sustainable innovation in line with the Financial Sector Blueprint 2022-2026 set out by the central bank, Bank Negara Malaysia

Digital bank LINE BK is diversifying into wealth management and SME lending to strengthen its position as a holistic financial service provider

DBS’s Gupta is the highest-paid bank CEO in Asia Pacific, while Public Bank CEO Tay received the highest compensation as a percentage of net profit, with the combined total earned by the top 10 highest-paid bank chiefs in the region reaching $63.4 million in FY2022, up from $56.5 million in FY2021

Standard Chartered Ghana adopted a new business strategy to improve customer service and promote digital platform usage

TABInsights’ Financial Institutions Satisfaction Survey reveals global network support as the key force in driving the future of collaboration in transaction finance, echoing this year’s Sibos theme

North America demonstrated the highest overall strength, followed by Asia Pacific and the Middle East, with all banks in the ranking averaging decline in return on assets from 0.76% to 0.74%, and improved gross non-performing loan ratio from 1.8% to 1.65%

Bank of China Hong Kong reported strong financial results for 2022, driven by a strategic focus on personal banking and wealth management, with Mary Lo, general manager of personal banking and wealth management, looking ahead to the resumption of business in Mainland China and GBA, and expansion into Southeast Asia

Despite being a small bank, Thailand’s LH Bank has become a prominent player in investment and advisory services for the young, digital-savvy and affluent segment using its Profita app of investment services, multiple fund houses and a robo advisory

Jeff Ren, partner at OKX Ventures, shared insights into the future of Web3, hailed as the next iteration of the internet, built on blockchain technology and controlled by users

In the world of the wealthy, people-pleasing is common across family, staff, advisors and communities, but its adverse effects on personal growth, family dynamics, and decision-making call for a balanced approach with open communication and diverse perspectives

With a large portion of Africa’s population still lacking access to traditional banking services, particularly in places banks fear to tread, payment providers have stepped into the breach, gaining in popularity for offering services beyond the usual payments, money transfer and savings

BoA, UOB and Deutsche Bank are the winning transaction banks in Asia Pacific in The Asian Banker Best Transaction Bank Rankings 2023, with leading positions in customer experience, technology and innovation, and digital capabilities