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.
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.
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