Digital Transformation
From Legacy to a Thriving Financial Services Ecosystem
Traditional banking systems, burdened by age and complexity, can cripple innovation, restrain time to value, and strain customer relationships. This is not an isolated challenge; many incumbent banks struggle to keep ownership and maintenance costs in check and swiftly expand
Read More
Beyond Queries: How ChatGPT in Banking Unleashes Innovation
Financial services companies are increasingly taking advantage of ChatGPT and similar solutions. These technologies allow for the easy integration of corporate data into AI assistants, enhancing the utility of large language models (LLMs) for various applications. While consumers are rapidly
Read More
AWS Powers Krungsri’s Transformation Into an AI-Driven Bank
Thailand’s Bank of Ayudhya Public Company Limited, commonly known as Krungsri Bank, has selected Amazon Web Services (AWS) to power its digital transformation efforts. Ranking among the top five banks in Thailand, Krungsri is working with AWS to leverage data
Read More
Singapore FIs Show More Caution in Adopting BaaS, AI, and Embedded Finance
Singapore’s financial institutions have demonstrated a mix of resilience and cautiousness in adopting new banking technologies amid challenging global economic conditions, according to financial software provider Finastra‘s annual global survey. The ‘Financial Services: State of the Nation Survey 2023’ indicates
Read More
Silverlake Axis Partners Bank Mantap to Enhance Financial Inclusion in Indonesia
Silverlake Axis, a Singapore-mainboard listed fintech and digital banking solutions provider, has announced a strategic partnership with Indonesia’s Bank Mandiri Taspen (Bank Mantap). This collaboration is part of Silverlake Axis‘ expansion in Indonesia, highlighting its focus on the Indonesian market
Read More
Banks View Tech Giants as Their Biggest Threat
Banks are growing increasingly concerned about competition from technology and e-commerce disruptors, with firms like Google, Facebook and Microsoft being now perceived among their biggest competitors in the next five years, a new study conducted by Economist Impact and commissioned
Read More
ST Engineering, Elevandi to Boost Digital, Cybersecurity Services for Financial Firms
Singaporean multinational company ST Engineering has announced plans to expand its digital and cybersecurity services, focusing on financial services organisations in Southeast Asia and Australia. The initiative aims to support these organisations in their digital transformation by integrating advanced technologies
Read More
An Ecosystem Approach to Banking the Underbanked
Reaching Indonesia’s unbanked and underbanked population has been a long-standing challenge for banks. Hindered by numerous factors, including sociocultural diversity, low levels of financial literacy, and Indonesia’s archipelagic geography, the expansion of traditional banking channels has been cost-prohibitive. The result
Read More
Are Digital Banks the Catalyst in Making Embedded Finance the New Norm in Asian Finance?
In a dynamic and ever-changing financial landscape, the concept of embedded finance has emerged as a powerful force shaping the future of financial services. During a recent fireside chat, a panel of experts delved deep into the intricacies of embedded
Read More
LSEG to Revamp Finance Operations with Oracle Cloud
The London Stock Exchange Group (LSEG) has opted to revamp its finance operations by replacing its 17 legacy finance systems with Oracle Cloud‘s applications. With Oracle Fusion Cloud and Oracle Financial Services Applications running on a unified platform, LSEG will
Read More