Banking Technology
BOCHK warns against suspicious SMS messages
BOCHK warns against suspicious SMS messages
It reminded customers that it will only send messages starting with a “#”.
South Korea mulls easing “network separation” rules on financial companies
It has formed a sandbox program to allow FIs to explore the use of gen AI.
HDFC Bank launches India’s first mobile app-based digital credit card
PIXEL is a fully digital credit card designed for the mobile-first generation.
FinTech companies drive crucial cross-border transactions
The demand for faster payments, cheaper costs, and payment flexibility are three big trends for cross-border transactions.
Hong Kong central bank launches gen AI sandbox
Banks are encouraged to make full use of the sandbox.
Bank of Singapore warns against fake app
It has reported the link and app to the police and regulators.
Zed garners Filipino interest with no-fee credit card
Zed targets to expand credit access in the Philippines.
Siam Commercial Bank’s Mae Manee App undergoes maintenance on select dates
The app is unavailable on certain time periods on August 10, 16, and 17.
Malaysia's bid for BRICS membership to spur banking overhaul
However, challenges abound when moving away from U.S. and SWIFT reliance.
SaaS proves beneficial to banks’ financial efficiency and security
Banks streamline IT costs and improve security with SaaS solutions.
Philippine banks need to update strategies for competitive advantage
Less than 10% of revenue is allocated to information technology.
Higher smartphone access needed to propel digital wallets use
Digital wallets are set to account for 61% of global ecommerce payments by 2027.
The Importance of Digital Identity Management in the Finance Industry
Having a reliable and secure way to confirm the identity of customers has become crucial for financial institutions.
Ecosystem, data key for banks to keep up with disruptors
Banks must become the main choice of the customer, an analyst said.
How CIMB used automation to raise staff productivity
CIMB automated 10 processes in 2023, equal to 17,000 man-hour savings.
Data analytics key to SEA digital banks' profitability and retention
After the initial novelty and rewards, digibank users are likely to revert to their old bank.
NAB customer alerts lead to 17% decline in scam losses
Customers are said to have abandoned $100m in possible scam payments.
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Commentary
Digital transformation starts with leadership
The future of Asian banking isn’t ‘AI-first’ – it’s ‘fearless-first’