News
Korean banks to launch blockchain ID verification programme
‘BankSign’ will be officially rolled out in July.
Cards are chipping away at cash and cheque use in Australia
Consumers made over 8.3 billion card payments in 2017, equal to 23 million transactions a day.
Vietnamese banks urged to tighten card issuance
A group claims that 50 million of the 132 million cards in circulation are not being used.
Weekly Global News Wrap Up: BofAML to pay $42m fine for misleading customers; Wells Fargo mulls merger of wealth units
And Goldman Sachs is investing $500m into women-led and owned firms.
Chart of the Week: Check out mobile wallet adoption across Asia
The value of non-cash transactions in China hit 50% in 2016.
Strong economy to buoy Korean banks growth prospects
Corporate deleveraging is also expected to keep bad loans down.
Falling credit costs soften earnings blow on Thai banks
Net profit is expected to edge up 5% in Q2.
Hong Kong banks to hike prime rates by end-June
Tighter liquidity from mega IPOs will leave lenders with no other option.
Australia intensifies oversight over fintech lending
Moody’s lauds the move as a welcome development to improve transparency.
Malaysian bank loan growth to hit 7% in 2018
However, policy uncertainty over new leadership may dampen sentiment.
Fed hike to boost interest income of Taiwanese banks
The country’s lenders own over $30b in US-denominated assets.
E-wallets to snap up 6% of Philippine payments by 2022
However, the country is still miles behind China and India.
Two in five Malaysians open to sharing bank data
However, privacy and security concerns still mar open banking adoption.
Robots could cut 10,000 Australian banking jobs over the next decade
The four major lenders slashed over 4,000 full-time roles in 2017.
Vietnam bank loans grew 6.16% in May
This represents a slightly faster expansion than the previous months.
US tightening buoys Hong Kong banks' profitability
Funding costs are expected to stay low, boosting NIMs.
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