Banks have been investing in AI over the last few years, focusing on specific use cases. They must now scale AI across their business processes and incorporate emerging advancements in GenAI.

Banks in Asia Pacific invested an estimated $63 billion towards technology in 2022. The annual spending on technology is expected to increase by 7.5% in 2023 to $68 billion.

The majority of institutions surveyed attribute their increased Renminbi usage to China’s investments and partnerships facilitated by the Belt and Road Initiative

The Indian central bank’s disciplinary action and consequent threat to Paytm Payments Bank’s licence is a lesson for the industry that growth and innovation cannot be at the cost of compliance

The global use of Renminbi is influenced by geopolitics, macroeconomic conditions, infrastructure, and technology

A prominent player in Southeast Asia’s digital finance sector, the group saw significant growth in 2023, cutting losses by 29% despite a challenging economic environment

Nubank has reported its first full-year profitability since its launch in 2014. Nearing 100 million customers, the bank has set new benchmarks in revenue

South American banks led with the highest average loan-to-deposit ratio at 109%, followed by Europe at 96%, with around 50% of South American and 42% of European banks with ratios exceeding 100%

China’s private banking sector has witnessed a significant migration of high-net-worth individuals to the country’s largest banks, underscoring a flight-to-safety trend and intensifying competitive pressures for smaller banks.

Financial institutions are swiftly adopting blockchain and cryptocurrencies, catalysing regulatory discussions and heralding a significant shift in the global financial system.

From 2019 to 2023, the share of consumer finance relative to total retail lending declined in Hong Kong and South Korea, but increased significantly in the Philippines.

China’s bank-backed fintechs, such as CCB Fintech and OneConnect, grapple with profitability, fierce competition from tech giants and evolving regulatory landscapes.