The Asian Banker

The Asian Banker Summit 2024 Register, add to calendar & be reminded : https://bit.ly/4ak9Xjx 23 May, 2024 | 9 AM, Hong Kong time Bridging innovation and resilience in finance The financial services industry is undergoing a period of unprecedented transformation. Traditional norms are being rewritten, and the rules of the game are being redefined. Amidst a landscape of quantitative easing, global inflation, unsustainable debt, and geopolitical tensions, a wave of transformative trends is sweeping through the sector, challenging established institutions and creating new opportunities. Key trends such as cybersecurity, decentralised finance (DeFi), and the increasing application of artificial intelligence (AI) are reshaping the sector. Concurrently, the industry is pivoting towards sustainable and inclusive financing, integrating environmental, social, and governance (ESG) criteria into core practices. Digitalisation is reshaping finance at an unprecedented pace, demanding institutions to provide effective cash management, liquidity solutions, treasury services, and supply chain financing. Instant cross-border payments alone are insufficient; today’s consumers seek transparency, traceability, and trust. For inquiries or any other concerns, please feel free to contact Joshua Sangalang: Email: jsangalang@tab.global | WhatsApp: +63 9050253810 Usama Muhammad, Essraa Mansi, Francesca Y. TAB Global #AsianBankerSummit2024 #financeinnovation #resilientfinance #transformativetrends #cybersecurityfinance #defi #aiinfinance #esgintegration #sustainablefinance #inclusivefinancing #digitalizationinfinance #cashmanagement #liquiditysolutions #treasuryservices #supplychainfinance #transparencyinfinance #traceabilityinfinance #trustinfinance #theasianbanker #tabglobal

In a detailed conversation with Winfield Wong, the chief executive of Cathay United Bank discussed the strategic role that Singapore plays in CUB's regional ambitions, the innovative financial solutions being piloted, and the bank's future directions in digital transformation and community engagement. In the rapidly evolving landscape of ASEAN banking and financial services, CUB Singapore wants to stand out, not just for its geographical reach, but for its innovative and client-centric approach. Wong articulated a vision that positions the branch as a cornerstone within the bank's wider strategy. He emphasised the strategic importance of Singapore within CUB's network. "We are the cornerstone here," Wong stated, highlighting that the branch acts as a hub of intelligence and information which is vital for the entire network. He noted the city state's advanced stance on regulatory practices and financial crime risk, as well as the sophisticated requirements of its private, corporate and wholesale banking clientele making it an invaluable centre for knowledge exchange that benefits the entire group. Under Wong’s leadership, CUB Singapore has become a testbed for innovation. He mentioned several firsts in sustainable financing: "We piloted the first green loan for a publicly listed palm oil company and a shipping company, spearheading environmentally sustainable initiatives within the Singapore financial sector." These efforts underscore the branch's commitment to aligning corporate finance with global sustainability goals. CUB Singapore serves as a vital conduit for both inbound and outbound business activities. Wong explains, "Singapore has become a very good conduit for our customers coming from Taiwan and Asia, and likewise for those based here looking to expand their business across the region." The strategic placement of the Singapore branch facilitates a seamless flow of services across borders, helping businesses navigate complex international waters with ease. Looking ahead, Wong is enthusiastic about the digital trajectory of CUB Singapore. "We have high growth ambitions and are committed to enhancing our digital platforms," he says. The focus is on integrating new technologies like application programming interfaces (APIs) via its ecosystem partnership and Global MyB2B (GMB) corporate internet banking portal to offer more streamlined and effective financial services to their clients. This digital push is aligned with the bank's goal to remain at the forefront of the financial services industry in Asia. Continuation in the comment section ⬇ Foo Boon Ping 胡文彬, TAB Global #aseanbanking #financialservices #innovation #sustainablefinance #digitaltransformation #communityengagement #csr #corporatesocialresponsibility #singaporefinance #bankinginnovation #clientcentric #knowledgeexchange #financialsustainability #globalreach #digitalplatforms #theasianbanker #tabglobal

Wealthy Chinese flock to big banks for security, shunning smaller banks Read the full article: https://bit.ly/3UU0Elh 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. ● High-net-worth individuals in China favour the top 12 banks holding nearly 90% of the private banking market ● Large banks are preferred for stability, risk management, and broad range of services ● Slowdown in potential HNWI client growth will intensify bank competition The COVID-19 pandemic has shifted client preferences towards larger institutions. Since 2019, the proportion of private banking clients choosing services from the top 12 banks, including the big four state-owned banks— ICBC, ABC, CCB and BoOC— and leading joint-stock banks, has increased from 70% and is projected to reach 90% by 2025. Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Merchants Bank, Ping An Bank Co., Ltd., China Minsheng Banking Corp.ltd, Bank of Communications Co.,Ltd., Shanghai Pudong Development Bank, China CITIC Bank, China Everbright Bank, Industrial Bank Shih (Busch) Pu, Chris Kapfer, TAB Global #privatebanking #china #wealthmanagement #bigbanks #financialservices #riskmanagement #economicoutlook #competition #innovation #clientpreferences #financialstability #marketshare #wealthdisparity #economicuncertainty #bankinglandscape #tabinsights #theasianbanker #tabglobal

Sean Kiernan on blockchain: “Crypto bridges real-world capital needs” Watch the full conversation on: https://bit.ly/3yckpvy Banking innovator Sean Kiernan from Greengage discussed how they use crypto-collateralised loans to help SMEs, stressing the importance of partnerships, blockchain, and tokenisation for industry transformation. ● Tailored lending approach to fill UK SME lending gap ● Tokenisation reshapes the future of banking ● Adopting Web3 hybrid banking model to empower SMEs Sean Kiernan is the founder and CEO of Greengage, a digital merchant banking leader. The bank has some 70 accounts and GBP 100 million ($124 million) in lending, meeting diverse client needs through crypto-collateralised loans. Kiernan previously served as COO and Interim CEO at Falcon Private Bank in London, where he launched pioneering crypto products. His career also included roles at Clariden Leu and Zurich Financial Services. Falcon Private Ltd., Clariden Leu, Zurich Insurance, Bank of England, Coinbase, Maple, Centrifuge, Bank for International Settlements – BIS TAB Global #SeanKiernan #Greengage #blockchain #cryptocurrency #banking #SMEs #partnerships #tokenisation #debanking #fintech #web3 #regulatoryframework #peertopeerlending #cryptoassets #financialservices #innovation #theasianbanker #tabglobal

KAF powers up digital finance Read the full article on: https://bit.ly/3weOY3i KAF Investment Bank’s digital transformation aims to streamline operations, enhance customer experiences, and respond adeptly to massive shifts in the banking environment. Rafiza Ghazali, the bank’s director of digital banking, said that the bank’s primary goal is to revolutionise Islamic banking with innovative technology. Emphasising the crucial role of a robust partner, she said: “Choosing a strong partner to start small and scale is crucial.” Temenos, Bank Negara Malaysia Foo Boon Ping 胡文彬, TAB Global #digitalfinance #Islamicbanking #digitaltransformation #partnership #bankingtechnology #customerexperience #bankinglicense #scalability #bankinginnovation #financialservices #digitalbanking #financialtechnology #bankingpartnerships #Malaysia #KAFInvestmentBank #tabglobal #theasianbanker

Improved cross-border payment systems support growth in Middle East Read the full article: https://bit.ly/4aewLR4 Member countries of the Arab Monetary Fund are enhancing global cross-border transactions through streamlined payments, improved compliance, and increased financial inclusion. ● Cross-border payments and remittances fuelled by regional trade growth and digitalisation ● Interoperability key to maximising full potential of digital payments ● UAE’s Buna cross-border multicurrency payment system The Middle East is seeing a transformation in cross-border payments and international remittances, driven by the surge in regional trade, rapid digitalisation, and a shift in labour and capital mobility. Migrant workers rely heavily on international remittance services within and outside the region to send funds to families in their motherland. To keep the economy humming, member countries of the Arab Monetary Fund (AMF) are enhancing intraregional cross-border payments with the goal of making services more inclusive. Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp Bank for International Settlements – BIS Sana l'ouahidi, Chris Kapfer, TAB Global #crossborderpayments #regionaltradegrowth #digitaladvancements #interoperability #financialconnectivity #economicgrowth #internationalremittances #migrantworkers #policyobjectives #realtimegrosssettlement #paymentsystem #unitedarabemirates #algeria #egypt #jordan #lebanon #morocco #qatar #somalia #sudan #tunisia #bahrain #kuwait #libya #oman #saudiarabia #india #pakistan #philippines #tabinsights #theasianbanker #tabglobal

In the competitive landscape of Singapore’s corporate cash management market, OCBC looks to differentiate with its payment capabilities.     At a time when financial operations demand robust performance and innovative solutions, the bank aims to position itself at the forefront of transaction banking and payment services. Leveraging cutting-edge technology and insights from customers, OCBC is not just keeping pace with industry demands but is actively shaping the future of transaction banking and payments in Singapore, especially in the public and local large-corporate sectors. The bank resolves clients’ operating challenges while also helping them grow both domestically and across borders.    Don Tay, the head of regional sales for global transaction banking at OCBC, emphasised the bank’s focus on integrating application programming interfaces (APIs), which has enhanced the efficiency of transaction banking, in particular payment services. APIs have not only streamlined operations but also doubled revenues by 49.6% in 2023 and expanded the client base, showcasing OCBC’s ability to innovate in response to market needs.  Under the leadership of Cassie Ng, head of cash product management, OCBC has championed the shift towards more digital, seamless systems. The introduction of features like ATM facial recognition for government disbursements represents a leap towards inclusivity and efficiency, setting OCBC apart in its service offerings. Ng focuses on optimising operational balances that have consistently been higher compared to fixed deposits, underscoring the bank’s successful management strategies that attract and retain clients.  Kwee Hong Yap, head of global trade finance, highlighted OCBC’s strong regional presence in Asia, and comprehensive trade solutions that meet the diverse needs of small businesses and multinational corporations. By prioritising transformation and innovation, OCBC challenges traditional trade practices, digitalising products and services, and using data to provide a seamless end-to-end client experience. The bank’s connectivity to industry ecosystems and digital platforms enhances operational efficiencies and security, solidifying its position in trade and working capital financing.  Dawn Sin, Pricillia Toh, Chelsea L., Edwin Tan, Chee Chin Heong, Jan Nino M., Carole Suen, Alan Chou, Marianne Lok, Weng Leong Ow Yong Foo Boon Ping 胡文彬, TAB Global #OCBC #singapore #cashmanagement #transactionbanking #payments #innovation #technology #apis #digitalization #efficiency #clientexperience #financialservices #bankinginnovation #regionalpresence #tradefinance #theasianbanker #tabglobal

Jack Ma makes his voice heard after five years Read the full article: https://bit.ly/4a0SyeZ Ma has finally emerged from Coventry with a memo on Alibaba’s structural reform. Could this be an easing of tensions with Chinese regulators, and nod to a potential pivot to cloud computing and AI? ● Internal memo endorsed group’s structural reform ● Move signals an easing of tensions with China’s regulators ● Ma maintains influence although his shares fell from 6.2% in 2019 to 4% Alibaba founder Jack Ma has not been heard in mainstream media since his outburst at the Bund Summit 2020 where he criticised the banking industry and financial regulations. The slap on the wrist came when regulators halted the initial public offering (IPO) of Ant Finance, a subsidiary of Alibaba that owns Alipay, and Ma was effectively prohibited from expressing any opinions about banking and Alibaba. Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp Alibaba Group, Ant Group Hugh Zeng, Chris Kapfer, TAB Global #alibaba #memo #reform #regulatoryeasing #jackma #influence #antfinance #ipo #stockprice #coreassets #ecommerce #ai #managementreshuffle #businessstrategy #innovation #tabinsights #theasianbanker #tabglobal

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DBP and LandBank merger scrapped Read full article on: https://bit.ly/4dgquY5 Opting against merging DBP and LandBank emphasises their distinct roles and the importance of individual development for comprehensive economic growth, benefiting all sectors. ● DBP and LandBank are not merging ● The two entities serve as Maharlika Investment Fund depository banks ● Amending charter to bolster financial capabilities and market expansion The Development Bank of the Philippines (DBP) and Land Bank of the Philippines (Official) are affirming their distinct roles in national development and agricultural support, opting not to merge, and reinforcing the necessity of maintaining separate government depository banks for the Maharlika Investment Fund (MIF). Despite previous advocacy for the merger by former finance secretary Benjamin Diokno, the focus is now on maintaining the separate roles of DBP and LandBank. Lynette V. Ortiz Foo Boon Ping 胡文彬, TAB Global #dbp #landbank #merger #economicgrowth #maharlikainvestmentfund #depositorybanks #charteramendments #publiclisting #financialcapabilities #marketexpansion #regulations #sustainablegrowth #digitaltransactions #financialinstitutions #philippines #theasianbanker #tabglobal