Search Results for "virtual banking"
How AI is Reshaping Banking in 2023
In recent years, the Artificial Intelligence (AI) growth in the finance market has been considerable, with the sector projected to expand to an astonishing US$ 1,591.03 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 38.1 percent. A study
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SCBX, KakaoBank Gears up to Apply for Virtual Bank License From Bank of Thailand
SCBX, the financial technology business group of Siam Commercial Bank, announced its readiness to apply for a license to establish a virtual bank with South Korean digital bank KakaoBank. This partnership involves the formation of a consortium, in with SCBX
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Transforming the Future of Banking Through Cloud and Open-Source Technologies
The banking sector has undergone a significant transformation thanks to the introduction of cloud and open-source technologies. Previously, banks relied on legacy systems and proprietary software, resulting in operations being siloed, scalability being limited, and high costs. However, with the
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TOPPAN IDGATE Offers Highly Secure Authentication for Digital Banking
Digital technology is increasingly transforming financial services. In the era of mobile devices, digital services through mobile apps have become part of our daily lives. The question now is whether one can trust the system to manage their assets and
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The Bank of Thailand Delays Virtual Bank Licensing Regulations Release
The Bank of Thailand (BOT) has announced that it will postpone the release of the final Virtual Bank Licensing Regulations to the third quarter of this year. The decision was made after the bank received feedback and questions from stakeholders,
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iFast Launches Cross-Border, Multicurrency Digital Banking Platform
iFAST Global Bank (iGB), the digital banking division of Singaporean wealth management fintech firm iFAST Corporation Ltd., has introduced a Digital Personal Banking (DPB) platform to expand its financial ecosystem. The DPB platform will provide online personal banking services to
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OCBC Launches Virtual Branch on Metaverse Platform Decentraland
OCBC Bank has set up a virtual branch OCBCx65Chulia on the metaverse platform Decentraland which is named after its headquarters on Chulia Street, Singapore. The virtual branch OCBCx65Chulia allows visitors to learn about OCBC’s historical milestones along with the latest
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Thailand Embraces Digital Banking with Customer Protection in Mind
Thailand has recently approved digital banking but has warned against irresponsible lending. This comes from the growing digital banking trend in Southeast Asia, which has seen an influx of financial technology firms entering the market. The Bank of Thailand (BoT)
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Thailand to Issue 3 Digital Banking Licenses Next Year – All You Need to Know
With the rise of fintech, traditional banks are being disrupted by nimbler, more customer-centric digital banks; it seems that the future of banking lies in the digital world. The traditional brick-and-mortar banking model’s role has been reduced in the digital
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Singapore’s Appetite for Open Banking Is at an All-Time High, Finastra Survey Shows
Open banking is now universally and unequivocally regarded as a key part of a bank’s landscape, according to a global research by financial services software and cloud solutions provider Finastra. The ‘Financial Services: State of the Nation Survey 2022’ found
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