Despite offering an above-market deposit rate of 6.8 percent in Hong Kong, ZA Bank, one of eight firms preparing to start digital-only banks, said it has no intention to extend the offering.
Almost 25 out of 51 markets in the region are ready for Open Banking, the Emerging Payments Association Asia concludes in a ground-breaking research report on Open Banking in APAC.
Hong Kong last year issued eight digital bank licenses while Singapore will award two full bank digital licenses by the middle of this year. In a crowded space for banks, how can new banks stand out? finews.asia finds out more.
It is worth considering whether the Coronavirus will have longer-term repercussions, says Economist Neil Shearing. One plausible consequence is that it could accelerate the process of deglobalization that is already spreading through the world economy.
The central bank of China reiterated the sector’s willingness to tolerate more bad loans to support the ongoing coronavirus crisis.
After dominating the Asia Pacific flows in 2018, the number of Chinese asset managers ranked in the top 10 nearly halved in 2019.
Toilet paper appears to be the most wanted commodity in Hong Kong after armed robbers took hundreds of toilet rolls on Monday, as residents race to stock up necessities caused by coronavirus panic-buying.
Sergio Ermotti is wrestling with his decision of when to leave the top job at UBS. His handling of a key potential successor in 2018 raises questions over how big a role the CEO holds in the overall planning.
China’s financial authorities enhanced its war on the coronavirus outbreak by targeting a lesser considered aspect in the sector: the dirtiness of physical cash.
Goldman Sachs Asset Management announced on Monday that it has launched four new thematic investment funds for retail investors in Singapore upon receiving approval from the Monetary Authority of Singapore.
WeSure, Tencent's insurance platform, launched several insurance plans designed to protect against the risk of the coronavirus epidemic.
Cryptocurrency exchange giant, Binance, has applied for an operating license in Singapore which continues to lure new players following the recent progressive developments in its regulatory regime.
Investors seem to be willing to see through near-term weakness expecting a V-shaped economic recovery.
The Monetary Authority of Singapore gave its stamp of approval to banks and insurers' recent efforts to provide some buffer for affected individuals and businesses.
Selling becomes problematic when a bank puts pressure on its relationship managers to «push» certain products and sets sales targets for them, Oliver Pernet and Mike Brun from LGT Group explain in an exclusive interview with finews.asia.
A Swiss front company for the U.S. and West German intelligence services supplied encryption equipment to the Swiss financial industry, finews.asia has learned.
Tidjane Thiam's bonus is at the center of a new controversy. But it seems that the board of directors of Credit Suisse is taking action now.
After the fierce battles that swept across Hong Kong for months, it is an entirely different beast that has Asia in its grip this year. finews.asia Chief Executive Claude Baumann on life behind a mask, the ideal temperature and optimism instilled by frequent...
There is no «one-size-fits-all» approach to open banking, but if implemented well, it will modernize the payments ecosystem and deliver great benefits to consumers, according to a report by the Emerging Payments Association Asia.
Sergio Ermotti’s position at the top of Switzerland’s largest bank has given rise to speculation for months even as he underlined his intention to stay until 2021. A media report suggests that he no longer is so sure about this.
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