Singapore
OCBC sets up board committee on ethics and conduct
OCBC sets up board committee on ethics and conduct
It will be chaired by OCBC bank chairman Ooi Sang Kuang.
DBS CEO Piyush Gupta's pay rose 15.5% to $8.62m after record-high earnings year
The CEO also saw a $3.31m cash bonus.
Citi targets 30% growth of APAC wealth management clients in 2019
The bank is tagetting 30% growth of Citigold clients in China.
DBS' PayNow to be integrated in SIA's KrisPay
The firms will also introduce a DBS-SIA point conversion programme via the KrisPay app.
Weekly Global News Wrap Up: Goldman-Apple deal targets mass market amidst shrinking trading revenue; Citigroup joins consumer payments battle
And here’s why banks and Silicon Valley fintechs clash over consumers’ data.
Chart of the Week: Loan re-pricing boosts Singapore banks' interest income
The net interest income of DBS and UOB may rise 9.3% and 7.4%.
Chinese banks to offer preferential services for military personnel
ICBC, Bank of China and the Agricultural Bank of China are amongst the lenders offering discounted services to armed forces.
67% of APAC ultra-wealthy investors still seek human advisors
A study suggested that over-digitalisation could alienate investors.
Singapore halves prohibition orders against former Citibank employee
The prohibition order for Zheng Xuemei has been reduced to one year.
SWIFT's Michael Moon on shaking the dust off the global cross-border payment process
SWIFT gpi promises speed, traceability and transparency as it helps usher in a new era of payments.
Cash is still king in Singapore as reluctant elders shun mobile apps
Security concerns in mobile banking apps rose from 34% in 2017 to 41% in 2018.
OCBC Pay Anyone joins order-ahead app Waitrr
OCBC’s app will automatically launch once customers select their meals.
Singapore slapped $12.47m in penalties in last 18 months
Enforcement actions include 19 prohibition orders and $698,000 in civil penalties.
Asian wealthtech firms snap up 15.5% of investment in 2014-2018
They still fall flat of Europe and North America’s dominance.
Banks struggle with millenials' use of messaging apps
2 in 5 APAC millennials contact their RMs through chat application in Q2 2018.
Standard Chartered unit launches startup platform
SC Ventures Fintech Bridge will link the bank with promising startups, investors and accelerators.
Mortgage recovery looms for UOB as residential market stabilises
Mortgages will grow to mid-single-digit in 2019 from 4.3% in 2018.
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1. Wealth clients shift focus from returns to retirement security 2. Built to last: How Japan is approaching the cross-border payments challenge 3. ASIC holds $1.93b in unclaimed funds from old financial accounts 4. Mizuho clarifies ‘no decision yet’ on Rakuten Bank investment 5. DBS to hire over 500 young talent in 2026 amidst AI pushResource Center
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It is wading downstream from mortgages to lend to developers, hardware stores, and the likes.
Commentary
Built to last: How Japan is approaching the cross-border payments challenge
Asia’s 20% advantage: The simplification strategy rewriting banking from Singapore to Shanghai
Perth is emerging as an unlikely testbed for the future of global finance