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.
China's e-commerce rebounded in 2023, with Pinduoduo's remarkable performance surpassing that of Alibaba and JD.com. Alibaba responded with the 'Year-End Good Price' festival, emphasising a 'low price strategy.'
China’s wealth management market overcame regulatory hurdles and saw renewed investor confidence in the first half of 2023, with mutual funds surpassing the scale of bank wealth management products
Banks increasingly focus on modernising technology architecture and ‘hollow’ their core systems to address the challenges of legacy systems and meet the evolving business needs, agility, scale, for future growth.
The impact of the Renminbi as a commodity currency extends beyond trade transactions, influencing its broader usage in the global financial landscape
Despite China’s trade surplus, the RMB is depreciating against the USD and Euro due to lower yields on RMB-denominated assets, but this trend is expected to reverse in 2024 as interest rates align and exports recover
Trade finance is gradually digitalising amid evolving e-commerce models, driven by technology and sustainability; the $2.5 trillion global trade finance gap affecting SMEs prompts innovation in blockchain, tokenisation, and sustainability, despite geopolitical complexities
Al Rajhi Bank in Saudi Arabia remains the leading global Islamic bank, with Middle Eastern counterparts surpassing Asian ones in scale and profitability, while Asian Islamic banks exhibit stronger asset quality
Banks in the Middle East and Asia Pacific showcased outstanding operational efficiency, with Qatari banks achieving exceptional cost-to-income ratios by leveraging superior IT infrastructure, offering cost-effective digital services, and tailoring branch networks to cater to smaller populations
Despite economic challenges and shifting consumer trends, China’s Double 11 sales increased, placing Pinduoduo as a formidable contender in the fiercely competitive e-commerce sector
China’s macroeconomic outlook, open financial markets and continuous technological innovation create ideal conditions for international use of RMB based on a global survey by TABInsights with over 2,542 executives from financial institutions and corporations across 23 markets.
Four banks in Bangladesh on the TABInsights Bank Watch List reported an average gross NPL ratio of 17.8% in FY2022, while Indian banks demonstrated improved asset quality, with none making the list, highlighting resilience to economic fluctuations
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