Financial Services
Nearly 4 in 5 Singaporeans open to branchless banking
Nearly 4 in 5 Singaporeans open to branchless banking
It helps that digital banking penetration in the lion city is high at 97%.
APAC's bancassurers turn to blockchain to enhance offerings
CCB and AIA collaborated to offer blockchain-powered bancassurance products.
How open is Asia to branchless banking?
Approximately 55-80% of customers are considering opening an account in a digital-only bank.
Asia beats Europe in developing new payments technologies
The region has attracted more fintech investments than North America and Europe.
Smartphone banking booms in Asia as digital penetration expands threefold
Mobile banking has grown at least twofold in Emerging Asia to outpace other e-banking types.
Singapore banks' bad loans are on the rise
The aggregate NPL ratio of local banking groups rose from 0.4% to 1.6% in 2017.
OCBC debuts quick credit card approval and Apple Pay integration
Customers can make purchases at Apple Pay merchants within minutes of credit application.
ICBC Singapore unveils investment banking services
Property owners and developers are the initial target clientele.
UOB forms joint venture with credit scorer Pintec
The joint venture will have a capital of up to $10m.
More than half of retail investors distrust the financial industry
Only one in ten believe that financial advisers always put their clients first.
Asian private wealth hits $2.01t in 2017
The world’s high net worth individuals are increasingly turning to Asia.
Embracing the opportunity and grasping the risk of new tech and Fintech: A Singapore case study
The technological evolution unfolding before us is nothing short of extraordinary. Just on cognitive capabilities alone, what took living organisms...
MAS refuses to compel banks to divulge open banking data
The central bank is taking a more organic approach, enabling banks to share data on their own.
DBS launches online remittance service for non-customers
Users can send money to Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, the UK, and the US.
Nearly 7 in 10 consumers embrace digital banking
Almost half believe non-banks provide better assistance than traditional banks.
Chart of the Day: Banks' nonperforming loan exposures are higher outside Singapore
In Indonesia alone, UOB and OCBC have 4.9% and 3.7% NPL exposure.
Singapore reserves grew 10.52% to US$286.96b
Gold and forex reserves expanded 3.8% to $373.78b.
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