Singapore

Banks and payment firms are stepping up their card game to encourage cashless spending.

Singapore Minister Desmond Tan lays out plans to prevent scams.

Financial institutions are called to benchmark their practices against examples in the study.

CEO Samuel Tsien maintained a cautious outlook for the economy’s recovery.

The group emphasized wealth and connectivity-related services as tenets for growth.

The regulator expects financial institutions to remain vigilant to any risk-posing transactions.

Revenue from consumer banking in the region declined 15% in Q4.

Current chief Tony Cripps will become CEO of Saudi British Bank in May.

And Germany's Commerzbank sinks into red with $3.3b Q4 loss.

Companies have doubled down on ESG commitments due to the pandemic, the banks noted.

The webinar discussed trends in digitisation and how banks are effectively using data to enhance processes.

And Goldman Sachs mulls deals to boost consumer banking unit Marcus.

A total of 39 financial institutions participated in the auction.

Financial firms should analyse and share threat intelligence within the ecosystem.

Much has been written about the likely death of incumbent banks in the face of coming competition from neobanks (or digital banks) soon to be launched in Singapore, that will be more nimble and agile, have more streamlined processes and lower cost overheads, be free of any legacy (in the form of infrastructure, and mindsets) and give customers exactly what they want.

The bank will provide vaccine education as well as support for side effects.