Tag "digital banking"

Digital Banking Heats up in Vietnam Amid COVID-19, Booming E-Commerce Sector

In Vietnam, digital banking development is accelerating on the back of rapid fintech adoption, a booming e-commerce industry and the COVID-19 pandemic. Social distancing measures put in place to prevent the spread of the virus have pushed consumers towards online

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Redefining Finance for Good: Indonesia’s Largest Bank Reflects on the Future of Banking

COVID-19 has been an important catalyst for digital transformation across all industries. In banking, the pandemic has accelerated banks’ digitalization push and triggered a sharp rise in digital payments and digital banking usage. In partnership with Finastra, the Fintech News

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Open Banking, Data Protection Laws Bring in New Challenges for Digital Banks and Incumbents

Open banking, one of the hottest topics in financial services today, is bringing in new challenges and risks that both traditional financial institutions and fintech companies must address swiftly, said Frederik Mennes, director of product security at cybersecurity firm OneSpan.

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Redefining Finance for Good: How DBS Responded to the Pandemic

The COVID-19 pandemic has no doubt shifted consumer behaviours dramatically, pushing businesses from across sectors to adapt to these new changes. Banks are similarly impacted by these changes as well. In partnership with Finastra, we’re running a series of interviews

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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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