Against a backdrop of legacy technology challenges and surging real-time payment volumes, the pressure for the industry to collectively upgrade the existing payment market infrastructures (PMs) is high. The upcoming implementation of ISO 20022 in the high value payments area and roll out of digital currencies mean that PMI modernisation will remain a crucial objective to ensure cost-effectiveness, finality, safety and transparency of payments.
The mBridge pilot has tested the issuance of over $12 million in central bank digital currencies (CBDCs) and payments of over $22 million on bridge. It has resolved long-standing pain points in traditional cross-border payment systems and is rooted in the roadmap for distributed ledger technology (DLT)-based infrastructure, as well as CBDC.
Ethereum’s recent software upgrade the ‘Merge’ is a key step in its future roadmap of development, but there remain several challenges that this emerging technology still needs to address.
Alternative credit is flourishing in Thailand as big technology platforms fill in the lending gaps left by traditional financial institutions. Known for fast and efficient end-to-end services, these challengers are drawn to the country because of the large market for unsecured lending and higher profit potential.
National Australia Bank (NAB), one of the leading business banks in Australia, launched Hive, a merchant portal. It will invest $100 million over the next two years to better address the payment needs of the micro and small business segment.
Banks have not experienced a significant deterioration in asset quality of their MSME exposure, supported by various policy measures. An uptick in the non-performing small business loans is expected with the expiry of these measures.
The upcoming implementation of ISO 20022 in the high value payments (HVP) space is set to unlock a host of benefits for the cross-border payments industry – from improved compliance processes to the creation of innovative products and services. Joey Han, Clearing Solutions Specialist, APAC, Institutional Cash Management at Deutsche Bank explores how preparations are ramping up – and what we should expect as we transition into the ISO 20022 era.
The weak sales growth for this year’s Double 11 shopping festival was largely driven by the depressed consumer sentiment and logistical disruptions under the zero-COVID policy, along with the regulatory scrutiny.
Gordian Gaeta, chairman of The Asian Banker Leadership Achievement programme questioned the responsibility of leadership towards society in a dialogue with 2022 lifetime achievement recipient, Abdul Farid Alias, former group CEO of Maybank, and CEO leadership achievement honorees for Cambodia and Thailand, Raymond Sia, CEO of Canadia Bank and Chartsiri Sophonpanich, president of Bangkok Bank
The billionaire founder of Pinduoduo Inc. and one of China’s richest men seeks scientific breakthrough in the country’s food technology sector through his philanthropic arm Starry Night Charitable Trust after resigning as CEO of his e-commerce firm, China’s biggest by users.
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