Financial Services

Australian banks speed up Asian retreat as competition and oversight mounts
23 Apr 18
Amidst tighter regulatory pressures, analysts weigh in on whether Asia is still a market worth conquering.
DBS launches cross-border payment tracker in Singapore and Hong Kong
20 Apr 18
Over 200,000 corporate and SME clients will be able to use the service.
APAC banks grapple with growing property risks
20 Apr 18
Rising property loans and household indebtedness may pose problems for banks’ balance sheets soon.
Singapore adopts standards for cross-border payments
20 Apr 18
MAS supports the initiative to o help arrest the decline in correspondent banking relationships.
MAS tightening to bolster Singapore banks' performance
19 Apr 18
Banks are set to benefit from rising loans which grew 10%, as well as higher SGD and USD interest rates.
Chinese banks may ramp up lending amidst $63.62b additional liquidity
19 Apr 18
Reserve requirement ratio for big commercial banks will be lowered from 17% to 16%.
Homegrown P2P lending platform Funding Societies raised US$25m
18 Apr 18
Its Series B funding round was led by Softbank Ventures Korea and Sequoia India.
Nearly 4 in 5 Singaporeans open to branchless banking
18 Apr 18
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APAC's bancassurers turn to blockchain to enhance offerings
18 Apr 18
CCB and AIA collaborated to offer blockchain-powered bancassurance products.
How open is Asia to branchless banking?
18 Apr 18
Approximately 55-80% of customers are considering opening an account in a digital-only bank.
Asia beats Europe in developing new payments technologies
18 Apr 18
The region has attracted more fintech investments than North America and Europe.
Smartphone banking booms in Asia as digital penetration expands threefold
18 Apr 18
Mobile banking has grown at least twofold in Emerging Asia to outpace other e-banking types.
Singapore banks' bad loans are on the rise
17 Apr 18
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OCBC debuts quick credit card approval and Apple Pay integration
16 Apr 18
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ICBC Singapore unveils investment banking services
16 Apr 18
Property owners and developers are the initial target clientele.
UOB forms joint venture with credit scorer Pintec
16 Apr 18
The joint venture will have a capital of up to $10m.
More than half of retail investors distrust the financial industry
16 Apr 18
Only one in ten believe that financial advisers always put their clients first.
Asian private wealth hits $2.01t in 2017
13 Apr 18
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
13 Apr 18
The technological evolution unfolding before us is nothing short of extraordinary.
MAS refuses to compel banks to divulge open banking data
13 Apr 18
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
12 Apr 18
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
12 Apr 18
Almost half believe non-banks provide better assistance than traditional banks.
Chart of the Day: Banks' nonperforming loan exposures are higher outside Singapore
11 Apr 18
In Indonesia alone, UOB and OCBC have 4.9% and 3.7% NPL exposure.
Singapore reserves grew 10.52% to US$286.96b
10 Apr 18
Gold and forex reserves expanded 3.8% to $373.78b.
Financial compliance in Singapore is the ninth easiest in the world
10 Apr 18
But Budget 2018 changes could make compliance harder.
Construction firms' on-time payments to boost banks
9 Apr 18
For DBS, OCBC, and UOB, nonperforming loan (NPL) ratios tied to the construction sector were 0.2%-0.8% at year-end 2017.
Bank of China and ICBC to offer PayNow
9 Apr 18
There are now nine banks using the service.
LATTICE80 opens Crypto Hub in Singapore
6 Apr 18
This followed the discontinuation of its Fintech Hub just this March.
CardUp nabs $1.7m in seed funding to revolutionise digital payments space
6 Apr 18
Users can now pay for recurring cash expenses like taxes and rent via credit card.
Meet Singapore's cryptocurrency czars
6 Apr 18
Their combined token sales proceeds hit US$381.42m in 2017.
Singapore Budget 2018 puts Singapore further ahead in asset management and Reit listing
5 Apr 18
New tax framework outlined in Singapore Budget 2018 next step in enhancing country’s position as a fund management and domiciliation hub....
Future ready: local banks lead digital charge
5 Apr 18
DBS stays ahead of the pack as it has grown and nurtured its digital team since 2009.
Chart of the Day: 3-month SIBOR up 1.51% at end-March
5 Apr 18
Fixed deposit rates from Singapore banks rose concurrently by 17-30 bps.
SGX Bond Trading takes on SGX Bond Pro general counterparty role
4 Apr 18
It replaced UBS, which was the general counterparty in its 2015 launch.
Singapore law allows creditors to avoid losses from bank failures: Moody's
3 Apr 18
Buffers for bail-ins only comprise 1%-2% of Singapore banks’ assets.
Daily Briefing: Chancery Court for en bloc sale at $390m; PayPal's Singapore-backed incubator looks for startups
3 Apr 18
And here's why Singapore's prime minister and his siblings are torn over a house.
MAS raises April Singapore savings bond size to $200m
2 Apr 18
It cited two bond issues in 2018 that were oversubscribed for over $171m.
MAS writes guide for financial institutions' ethical AI use
2 Apr 18
The guide is targeted for completion by the end of 2018.
Customer satisfaction in 2017 hit new high at 72.9 points
2 Apr 18
A study cited increased satisfaction in the finance & insurance and healthcare sectors.
Is Singapore failing in its bid for Asia's IPO market?
2 Apr 18
Companies are choosing to list in Hong Kong instead.

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