Innovation
Elaine Heng to Lead OCBC’s Newly Formed Strategy and Sustainability Division
OCBC Bank has established a new division named Group Strategy, Innovation, and Sustainability. The division aims to anchor the bank’s strategic direction, fostering innovation and sustainability efforts. The new division, set to commence on 22 April 2024, will play a
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Digital Offerings like BaaS to Contribute Over 40% of APAC Banking Revenue By 2030
Banks in Asia-Pacific (APAC) are diversifying their offerings and embracing innovative digital strategies including super-app platforms, financial marketplaces and banking-as-a-service (BaaS) models. By 2030, these business models and digital offerings will contribute over 40% of banking revenue, representing some of
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Fintech Poised for Greater Innovation and Consolidation in 2024
2024 is expected to be a year of innovation for the fintech industry, marked by advancements in artificial intelligence (AI), cross-border and real-time payments, cryptocurrency and blockchain, and bundled software-as-a-service (SaaS) offerings. At the same time, the sector is anticipated
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Banks View Fintechs as the Biggest Threat to Their Cross-Border Payments Business
Traditional lenders are losing market share in cross-border payments to non-banks, with digital challengers and fintech startups rapidly gaining ground by solving some of the most critical issues in the sector including its high fees, inefficiencies and slow transaction speeds,
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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
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Singapore, Japan, Swiss, UK Join Forces for Responsible Digital Asset Innovation
The Monetary Authority of Singapore (MAS) has partnered with regulators from Japan, Switzerland and the UK for responsible digital asset innovation. This collaboration is called the Project Guardian policymaker group, comprising the Financial Services Agency of Japan (FSA), the Swiss
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UOB First Singapore Bank to Trial Microsoft 365 Copilot Generative AI Tool
United Overseas Bank (UOB) initiated its trial of Microsoft 365 Copilot, marking it as the first Singapore bank to integrate this Generative Artificial Intelligence (Generative AI) tool. Under the Microsoft 365 Copilot Early Access Program (EAP), starting in October, around
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Crypto.com to Set up Global Innovation Lab for Blockchain, WEB3.0 and AI Projects
Digital asset exchange Crypto.com announced that it will establish its first Global Innovation Lab in Singapore, making the city-state its designated global R&D hub. The new lab will be focused on identifying novel applications for blockchain, WEB3.0 and AI as
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Breaking the Mold: How Next-Gen FSIs are Redefining Digital Experiences
As the world increasingly relies on digital technology, financial service institutions (FSIs) are constantly adapting to meet the changing needs of their customers. FSIs must reimagine their digital experiences to stay competitive and provide a more seamless and efficient customer
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Singapore Study on Harvard Case Platform Reveals What Sets DBS’ Digital Transformation Apart
Singapore-based DBS Bank has become a top-ranked bank globally driven by its successful digital transformation initiatives, focus on sustainability, and high-quality customer service. DBS has managed to maintain its competitive edge by embracing digital innovation and staying at the forefront
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