The Asian Banker’s survey across financial institutions (FIs) in seven countries in Asia reveals emerging trends in cybersecurity risks and fraud, pressing challenges and technology areas prioritised.

Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way

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

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.

Banks in Asia’s mature markets beat rising costs, deteriorating credit quality and higher interest rates, focusing on digital experiences, GenAI, green finance and fraud prevention