Tag "digital banking"

Vietnam’s Challenger Timo Changes Banking Partner, Cuts Ties with VPBank

Vietnam’s digital banking platform Timo has warned that from September 8, 2020, existing customers will no longer be able to access their accounts at Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) through the Timo app and web platform. Customers wishing to

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63% of APAC Customers Willing to Switch to Challenger Banks in 5 Years

63% of banking customers in Asia-Pacific (APAC) are likely to use digital banking services offered by neobanks and challenger banks by 2025, highlighting the urgency for banks to innovate, according to the Fintech and Digital Banking 2025 report by Backbase

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McKinsey: Banks Need to Reinvent Themselves or They Will Eventually Disappear

In Asia, consumers’ tech-savviness, the rise of fintech, and advances in technology are requiring banks to reinvent themselves, according to a new report by McKinsey. In a paper titled Future of Asia Banking: How Asia is reinvesting banking for the

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E-Commerce Firms May Be in The Forefront of South East Asia’s Digital Banking Revolution

In a new report released by S&P Global Market Intelligence earlier this month, the financial information services provider says that for both new digital banks and incumbent banks, affiliation with technology platforms serving large pools of consumers and small businesses

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Revolut is Coming to Singapore Very Soon, Here’s a Sneak Peek at Its Pricing

UK-based fintech startup Revolut has unveiled pricing details for its digital offerings in Singapore and we expect the official going launch in Singapore very soon. The startup, which offers banking services including a prepaid debit card, currency exchange, cryptocurrency exchange

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Fintech Sees Modest Growth in Sri Lanka as Old Habits Die Hard

In Sri Lanka, fintech holds many promises, and while local banks are investing heavily in digitalization, many challenges still need to be addressed before a real, dynamic fintech ecosystem emerges. When it comes to digital finance, it is safe to

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Vietnam’s Digital Bank Timo Celebrates Its Third Birthday

Three years have passed since Lifestyle Project Management and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) launched Timo, the country’s first bank that has no traditional branches or transaction offices. Formed in March 2015, Timo officially opened its doors in

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With this New ATM by NCR, You Only Need to Wave Your Hand to Get Cash

American banking solution vendor NCR Corporation showcased its latest range of self service banking solution recently at Money 20/20. One of the machines in particular caught our attention. Dubbed concept “Kelpie,” the technology allows users to complete banking requests without

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Bankers, Fintech Experts Gather in Vietnam to Discuss the Future of Banking

Earlier this month, bankers and fintech experts gathered in Vietnam to discuss the future of banking, the evolving payments landscape, and digitalization in the financial industry. Representatives of Deloitte, Asia Commercial Bank, Saigon Commercial Bank, Oracle, Fintechnews.sg and BankClub took

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Mobile Payments, Internet Banking See Rapid Growth in Vietnam

Vietnam has been experiencing a digital wave in its financial and banking industry, with payments through mobile banking services surging by a whopping 144% per year over the past five years, experts said at a conference last week. During the

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