Investments and interest in distributed ledger technology have been rising rapidly as new use cases emerge to harness its potential. The technology is nonetheless still at an early stage with many hurdles to cross, possibly five to seven years away from mainstream adoption.
The gross retail banking income for the Asia Pacific region is expected to see a stable growth, while retail banking performance will continue to vary across the region. Banks in most markets have been facing downward pressure on their retail profitability amid the complex and constantly evolving operating environment.
With more than 70% of Southeast Asia being unbanked, fintech possesses tremendous potential to widen financial inclusion and spur economies. Advances in the industry mean more people and companies have the ability to save, borrow and transact. Yet with such a wide and sensitive remit, regulations need to keep pace with the constant innovation.
Basel regulators are trying to finalise changes on how to calculate banks’ risky assets. But US and Europe are at loggerheads about what these should look like. After postponing a decision in January, and failing to reach a conclusion in early March, a compromise is proving to be tricky.
Emirates NBD’s efforts towards digitisation have enabled customers to bank with more ease through new account propositions. From Shake n’ Save to Fitness and other new mobile based applications, the bank is putting itself at the forefront of digital services.
Financial institutions are starting to use APIs to create important linkages between their products and services and their customers and important third party value providers. Early movers to stand to gain mindshare of both customers and the wider application developer community.