Financial institutions are accelerating the use of artificial intelligence, but they need to address key data challenges in scaling capabilities to develop the right technology framework, while also adhering to compliance requirements

UnionBank topped the 2023 BankQuality™ Survey in the Philippines as the Most Recommended Retail Bank, achieving a score of 67%, tying with Metrobank but with varying margins across key categories

Consumers in India rated ICICI as the Most Recommended Retail Bank in the 2023 BankQuality™ Survey with a score of 69%, while Paytm scored 64% and rated as the Most Recommended Digital-Only Bank

Consumers in Thailand voted Kasikornbank as the Most Recommended and Most Selected Main Retail Bank in the 2023 BankQuality Survey; Siam Commercial Bank placed second while Line BK emerged as highly-rated digital-only bank

China's wealth management market has the potential to surpass $100 trillion by 2025, but it needs to overcome challenges like low asset allocation, regulatory changes, and pressure on wealth managers

The combined revenue of the top 100 global digital-only banks increased by 16% to reach some $66 billion, with China’s WeBank, Ally Bank from the US, and the retail arm of ING Group in the lead in 2023

The current disintermediation in payments and MSME lending marks the tip of the iceberg, and retail deposits may be the next battleground

Disintermediation by digital wallets and decentralised finance platforms is shifting deposit business dynamics, requiring conventional banks to innovate and stay competitive

The financial services market size in the metaverse is predicted to drop from 22% to 6% by 2030—its fall from tech wonder to half-baked idea in financial services requires differentiation in its value proposition to secure success

With a large portion of Africa’s population still lacking access to traditional banking services, particularly in places banks fear to tread, payment providers have stepped into the breach, gaining in popularity for offering services beyond the usual payments, money transfer and savings

North America demonstrated the highest overall strength, followed by Asia Pacific and the Middle East, with all banks in the ranking averaging decline in return on assets from 0.76% to 0.74%, and improved gross non-performing loan ratio from 1.8% to 1.65%

DBS’s Gupta is the highest-paid bank CEO in Asia Pacific, while Public Bank CEO Tay received the highest compensation as a percentage of net profit, with the combined total earned by the top 10 highest-paid bank chiefs in the region reaching $63.4 million in FY2022, up from $56.5 million in FY2021