The VMware Digital Frontiers 3.0 Study found that the customer battleground for Malaysia’s financial services industry has shifted online with 55% of Malaysians surveyed now preferring to engage with their banks via apps rather than visiting in-person at a branch, leading ahead of its Southeast Asian counterparts Singapore (51%), and Indonesia (53%), on par with […]
VMware Banking Consumer 2020 Study: Malaysian consumers have one of the highest distrust of online payment security in the region
According to VMware, a leading innovator in enterprise software, the new VMware Banking Consumer 2020 Study reveals that almost half (46%) of Malaysia consumers are dubious about the security of e-wallets and payment applications. The numbers rise for connected devices, with 53% doubting the security of smart devices with payment capabilities. The study also found […]
India poised to infuse $2 Billion into state-run banks
India will inject at least 135 billion rupees ($2 billion) into state-controlled banks this month, as it seeks to shore up capital buffers and help the lenders meet coupon payments on their bonds, people familiar with the matter said. Read the full story at https://www.bloomberg.com/news/articles/2018-07-18/india-is-said-poised-to-infuse-2-billion-into-state-run-banks SOURCE: Bloomberg (20)
Shanghai Pudong Development Bank unveiled China’s first smart counter
The intelligent i-Counter provides customers with efficient and convenient one-stop integrated financial services digitally and the equipment at the counter can handle up to 90 percent of banking services previously done with the help of bank staff in the physical outlets, the Shanghai-based commercial joint-stock lender said. Read the full story at https://www.shine.cn/biz/company/1807027833/ SOURCE: SHINE […]
The outlook for Malaysia’s banks remains ‘stable’: Analyst
Simon Chen of Moody’s Investors Service says “fairly robust” global growth and expectations of strength in its domestic consumption are likely to bode well for Malaysia’s banking sector. Watch the video at https://www.cnbc.com/video/2018/06/17/the-outlook-for-malaysias-banks-remains-stable-analyst.html SOURCE: CNBC (24)
China has built a blockchain system that could replace paper checks
China’s central bank has finished work on a blockchain-based system that digitizes checks issued by domestic businesses, according to a senior official. Read the full story at https://www.coindesk.com/china-has-built-a-blockchain-system-that-could-replace-paper-checks/ SOURCE: Coindesk (16)
Insurance and bank sectors to see overhaul of their regulation
China is planning to overhaul its financial regulatory bodies by combining the country’s top banking and insurance regulators and transferring some of their functions to the central bank. Read the full story at https://www.shine.cn/biz/finance/1803141641/ SOURCE: SHINE (29)
2018 Customer experience trends in banks and financial institutions
Editor’s Note: This article reports on the media briefing that followed the panel discussion – China’s digital revolution: The opportunities and challenges for Malaysia, in conjunction with HSBC’s Asian Outlook & BRI Forum 2018 at the Kuala Lumpur Hilton on 22 January 2018, By Charles F Moreira, Editor. Banks usually have to follow customers in […]
No country except India has women heading 40 percent of banking sector
Banks may get incentives for digital push
India may give banks an incentive of up to Rs 10 for each transaction to encourage merchants to adopt digital modes of payment, helping achieve the objective of a less-cash economy that makes tax evasion easier to detect. According to a government official, the proposal is to provide an incentive of 0.25% on the value […]