News
Hyundai Card's Apple Pay cards find their home with teens and twenties
11+ hour, 1+ min ago (118+ words) Nearly 7 in 10 of new applicants for the card are in this demographic. The majority of Hyundai Card's six new Apple Pay-tied cards are held by teens and twenties. Meanwhile, 31% were existing Hyundai Card customers. Hyundai Card launched the six new…...
QR Ph captures 55% as card payments lose ground: Pay Mongo
1+ hour, 17+ min ago (272+ words) Interoperability lets merchants accept payments from banks and e wallets through one code. The Philippines" national QR payment standard has become the dominant method for Pay Mongo's business merchants payments in the country, accounting for 55% share of the total payment…...
Krungsri partners Thailand Post to co-develop financial and insurance products
11+ hour, 9+ min ago (195+ words) The Thai bank will use the postal carrier service to develop new offerings. Krungsri (Bank of Ayudhya PCL) has announced a strategic partnership with Thailand Post Co. , Ltd. to offer financial and insurance offerings in the postal network. The two…...
SME Bank Malaysia names Samad Majid Zain as CEO
9+ hour, 44+ min ago (112+ words) He previously worked as a group chief operating officer at an investment bank. Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) has appointed Samad Majid Zain as chief executive officer (CEO) effective 1 July. Samad joined the Malaysia-based bank as…...
SMBC names 13 new managing directors across APAC
10+ hour, 57+ min ago (100+ words) The promotions span a variety of roles both front-facing and in the middle and back office. Sumitomo Mitsui Banking Corporation (SMBC) Group has appointed 49 employees to managing director (MD) level globally, of which 13 are in the Asia Pacific and India region....
Central bank zeros in on securities, cross-border payments for digital Philippine peso
1+ day, 10+ hour ago (259+ words) Project Agila findings will steer wholesale CBDC strategy for financial institutions. The Bangko Sentral ng Pilipinas (BSP) has identified financial securities settlement and large-value cross-border payments as the priority use cases for a wholesale central bank digital currency (w CBDC)....
Indonesian banks' strong profits hide widening lending gap
17+ hour, 47+ min ago (251+ words) There is also a gulf in banks" high loan growth and low interest income growth. Indonesian banks" earnings resilience is masking a growing gap in lending, said UOB Kay Hian. Loan growth is increasingly driven by large corporations and state-owned…...
Asia insurers risk irrelevance as protection gaps widen
1+ day, 6+ hour ago (805+ words) An expert said Singapore saves 36% of its income despite having high protection and critical illness gaps. Asia's insurance industry is rethinking how it defines customer value as ageing populations, widening protection gaps and advances in artificial intelligence (AI) force insurers…...
Asia insurers risk share loss as product edge fades
1+ day, 8+ hour ago (616+ words) Joshi said seven or eight insurers now often compete with similar products. "The insurance battles are no longer won or lost on products," Konark Joshi, Director, Insurance Strategy & Operations Transformation Advisory, KPMG, told attendees of the Asian Banking & Finance and…...
AI governance failures threaten banks" returns
1+ day, 7+ hour ago (499+ words) 95% of Gen AI spend has no outcome as organisations remain in the early stages of adoption. Banks are entering a new phase of artificial intelligence (AI) adoption where governance, rather than technology, will determine how successfully the industry scales AI....