Latest Reports

  • Adapting for Uncertainty - a research brief from Kapronasia and Equinix
    Adapting for Uncertainty - a research brief from Kapronasia and Equinix The recent pandemic has been an extreme example of financial institutions (FIs) finding themselves blindsided by disruptive events. But meeting unexpected demands is a constant across all aspects of an FI’s business. Customer priorities can also shift according to economic and environmental circumstances, necessitating FIs to respond by providing customers…
  • Ecosystems for Success - a report from Kapronasia sponsored by ASX
    Ecosystems for Success - a report from Kapronasia sponsored by ASX The advent of electronic trading in the 1980s in the United States introduced a new era of algorithmic or high frequency trading (HFT) whereby firms tried to get their trading applications as close as possible to an exchange’s matching engine to lower latency and speed up trade execution. By the…
  • State of Regtech in APAC - a report from Kapronasia and Enterprise Ireland
    State of Regtech in APAC - a report from Kapronasia and Enterprise Ireland Asia, with its gleaming skyscrapers dotting some of the world's major financial centers and home to more than half the world's population, is at an inflection point. Facing spiralling compliance costs and a dynamic regulatory environment, financial institutions have turned to regulatory technology (regtech) to help acheive compliance while minimising…

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Latest Insight

Australia gets tougher on financial crime

Written by Kapronasia || May 20 2021

Australian regulators are stepping up the fight against financial crime after issuing a staggering US$921.59 million in fines in 2020. Disciplinary action against Westpac for serious breaches of Australia’s AML/CFT act accounted for US$920.7 million of that total.In the Asia-Pacific region, only Malaysia issued more fines than Australia in 2020, and that was because of the 1MDB scandal.

Why did OCBC have a sterling Q1?

Written by Kapronasia || May 19 2021

Singapore’s largest lenders have started the year off on a cracking note. First DBS reported record earnings and now OCBC has done the same. The city-state’s second largest bank posted a net profit of S$1.5 billion in the January to March period, compared to S$698 million during the same period a year earlier and well exceeding Refinitiv’s estimate of S$1.08 billion. 

Profitability elusive for Taiwan's leading e-wallets

Written by Kapronasia || May 18 2021

Taiwan’s two top e-wallets, Jkopay and Line Pay, have grown exponentially in terms of transaction volume in recent years yet have failed to turn a profit. Data compiled by Taiwan’s Chinese-language Business Next show that Jkopay lost about NT$346 million, slightly less than the NT$347 million in losses a year earlier. Line Pay likely lost NT$424 million in 2020, up nearly 70% year-on-year.

Gojek steps up its super app play

Written by Kapronasia || May 17 2021

Ride-hailing giant Gojek is stepping up its super app play with new fundraising and the purchase of a stake in Indonesian conglomerate Lippo’s retail unit, MPPA. Earlier in May, Indonesian celluar operator Telkomsel, a subsidiary of state-owned communications giant PT Telkom Indonesia, said it would invest an additional US$300 million in Gojek. Shortly thereafter, a filing on the Indonesian Stock Exchange revealed that Gojek paid 144.85 billion rupiah (US$10.2 million) for a 4.76% stake in MPPA.

South Korean banks feel pressure from fintechs

Written by Kapronasia || May 12 2021

South Korea only has a handful of prominent fintechs, but they are still managing to give incumbents a bank a run for their money when it comes to online banking services. Chief among them is Kakao Bank, with 14.1 million users (more than ¼ of South Korea’s population) as well as K bank and Viva Republica’s Toss, which will launch a digital bank later this year. With the rising popularity of digital banking, South Korea’s traditional lenders are mulling launching neobanks of their own.

DBS posts record earnings in first quarter

Written by Kapronasia || May 10 2021

2021 is shaping up to be a pretty good year for DBS. Southeast Asia’s largest bank posted record earnings of US$1.52 billion in the January-March period, up 72% year-on-year. DBS generated record fee income in the first quarter, with especially strong growth in wealth management and transaction services, both of which hit new highs. DBS is not resting on its laurels though and plans to boost both its digital capabilities and international footprint.

PayNow and PromptPay linkage goes live

Written by Kapronasia || May 06 2021

Singapore and Thailand have made cross-border payments history with the linkage of their respective real-time retail payment systems, PayNow and PromptPay. The linkage is the first of its kind in not just Asia but the world and comes after several years of close collaboration between the Monetary Authority of Singapore (MAS) and Bank of Thailand (BoT).

Indian payments unicorn Razorpay has grown exponentially during the pandemic as the subcontinent accelerates its transition to online shopping and digital finance. In the six months since it hit unicorn status, Razorpay has seen its valuation treble to US$3 billion. The Bangalore-based firm will use the US$160 million it raised in its latest fundraising round – in which Sequoia Capital India and Singapore’s sovereign fund GIC Pte participated – to fund expansion in Southeast Asia and develop new product lines. With this latest round of funding, Razorpay has raised US$366.5 million.

Why is Citibank scaling down in Asia?

Written by Kapronasia || May 03 2021

Citibank is calling it quits in many of Asia-Pacific’s retail banking markets, including mainland China, India, Indonesia, Thailand, Vietnam, South Korea, Taiwan and Australia. Citi’s performance across these markets varies greatly, but overall, the US banking giant feels it lacks the scale to compete in them. Citi plans to focus its Asian retail banking business in the financial centers of Hong Kong and Singapore.

The arrival of digital banks in Hong Kong and Singapore has put some pressure on incumbents to up their game. At a minimum, traditional banks in Asia’s two main financial centers have slashed some unpopular fees and invested in more digital technology. Now that Malaysia has decided to introduce digital banks, its incumbent banks face some similar challenges to their counterparts in Hong Kong and Singapore. 

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