Displaying items by tag: banking

China's Big Four state-owned banks, renowned for their massive market capitalization and close ties to the Chinese government, have long played a key role in the PRC's traditional financial system. An important challenge they - Bank of China (BOC), Industrial and Commercial Bank of China (ICBC) China Construction Bank (CCB) and Agricultural and Commercial Bank of China (ACBC) - face today is developing a digital-first strategy. Among the four, only CCB has has set up a dedicated fintech unit.

Published in Asia Banking Research

Vietnam is one of Southeast Asia's most dynamic markets for fintech. It has a young, connected population, a fast-growing economy and millions of unbanked people. In 2017, just 40% of Vietnam's adults (defined as 15 years or older) had a bank account, according to the World Bank. Investment in Vietnam's fintech startups reached $117 million in 2018, according to startup accelerator program Topica Founder Institute.

Published in Asia Banking Research

As one of Southeast Asia's preeminent markets, Indonesia offers strong opportunities for fintechs. With a population of 265 million, it is larger than Vietnam, Thailand, Malaysia, Myanmar and Cambodia combined. In 2018, the Indonesian economy expanded 5.18%, beating economists' forecasts.

Published in Asia Banking Research

In China, financial cloud has become a key goal for financial institutions in 2016. According to ‘the 13th Five-year Plan’, by the end of 2020, banks’ online business system should all be transferred to cloud and more than 60% of their other business systems should be moved online. With this clear direction, banks are taking actions. The China Academy of Information and Communications Technology (CAICT) found that in 2017, 42% of financial institutions are applying to use cloud, whilst 47% are in the process of planning the transition to cloud as companies seek to establish agile banking infrastructure.

Published in China Banking Research

Financial results from China's banks are improving recently as tight regulation is limiting the expansion of 3rd party competition, while overall bank profitability is increasing.

Published in China Banking Research

Fortune released the latest Global Top 500 list recently. 120 Chinese companies made the list, while US took the lead with 126 companies. Banking was the leading industry in China as China's banks come to the forefront again.

Published in China Banking Research

We have talked about the trend before, but starting to see more and more cooperation between fintech companies and banks. China Construction Bank Wenzhou Branch is now in cooperation with Alipay for a hospital payment service channel, ICBC is supporting WeChat’s QR code payment and JD finance and Citic Bank have issued over 2 million co-branded credit cards called the ‘White Card’. We're also starting to better understand the potential business models for both sides.

Published in China Banking Research

China's banks have lost significant market share to fintech companies like Ant Finance and Tencent, especially in the mobile payment space, which the fintech companies have used as a basis to move into other market segments such as online lending. Banks have been distanced from consumers and there are concerns that people do not need banks any more. Are things really that bad?

XRP has become one of the most hyped cryptocurrencies, outperforming both Bitcoin and Ethereum last year. Much of the hype comes from XRP’s connection to its creator company Ripple Labs, but this link may not be as useful as many hope.

Published in Blockchain Research

Profit at China's Big Five banks is declining as the popularity of internet banks such as WeBank grows. Can China's banks find their place in the new fintech world?

Published in Webinars
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