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Networks of ecosystem partners and access to more data lower costs of customer acquisition.

Almost 40% believe that open banking can provide them with better customer service.

And Nigeria’s central bank has injected $210m into the interbank foreign exchange market. From Reuters: Swiss bank UBS disappointed investors on Monday with first-quarter results that revealed strong earnings at its investment bank, while its flagship wealth management business missed forecasts. UBS’s wealth business, which was merged into one global division this year, netted 19 billion francs in new money but fell short of expectations with pre-tax operating income of 1.13 billion francs. Wealth management’s disappointing performance, plus its higher costs and UBS’s cautious outlook, put pressure on the bank’s shares which fell as much as 4 percent. 

Two Asian countries snagged the top two spots.

The Jan Dhan Scheme has brought an additional 310 million people into the banking system.

InstaPay enables transactions of up to PHP50,000 per day.

The cut aims to encourage banks to move from WMPs to deposit funding.

The banking sector is saddled with $210b in problem loans. Bloomberg reports that India’s chronic bad debt problem has spiraled beyond the control of the formal banking sector to the extent that it has dampened economic forecasts for the country. "The problems in India’s banking system are self-inflicted mostly because of lack of due diligence," said N.R. Bhanumurthy, a Delhi-based economist at the National Institute of Public Finance & Policy. "Of course this will affect growth."

HSBC and BOC have stopped offering the popular loans whilst ICBC will stop on May 1.

Almost half of adults now have a bank account, up from a fifth in 2011.

Loan growth is expected to slow in 2018.

Rising property loans and household indebtedness may pose problems for banks’ balance sheets soon. Higher levels of property exposure are raising the associated risks for Asia Pacific’s banking sector with Australian and New Zealand banks exhibiting the highest residential property risk, according to credit rating agency Fitch. Risks will remain high in the two markets as household debt grows due to rising home prices, driving future growth prospects for property loans.

DBS, ANZ, Kasikornbank, and ICBC are amongst the participants.

IFRS 9 will support Beijing’s bid to curb credit growth and balance sheet consolidation.

Banks are set to benefit from rising loans which grew 10%, as well as higher SGD and USD interest rates.

Find out which banks may face difficulty amidst a lack of long-run historical data.