HKMA’s Fintech Promotion Roadmap developed with industry stakeholders aims to drive fintech adoption and spark discussions among banks and fintech companies on its implications for industry transformation

Banks and other financial institutions in China are quicker to adopt new technologies to improve core banking infrastructure, strengthen lending, and enhance compliance

According to a TABInsights survey on technology investment, FI in APAC prioritise data management, advanced analytics and digital banking capabilities

Even as regulators become more stringent, the financial industry continues to grapple with cyber attacks and fraud, according to experts who shared their strategies in a TABInsights survey

Investors’ risk appetite and fondness for fintechs have cooled, leading to a 42% drop in global funding and 57% drop in APAC funding in the first half of this year

Digital currencies are revolutionising global finance and erasing borders, and while DeFi and the creator economy drive privacy-focused systems independent of governments, the narrative centers on traditional finance and DeFi convergence

With a large portion of Africa’s population still lacking access to traditional banking services, particularly in places banks fear to tread, payment providers have stepped into the breach, gaining in popularity for offering services beyond the usual payments, money transfer and savings

The financial services market size in the metaverse is predicted to drop from 22% to 6% by 2030—its fall from tech wonder to half-baked idea in financial services requires differentiation in its value proposition to secure success

Financial institutions are accelerating the use of artificial intelligence, but they need to address key data challenges in scaling capabilities to develop the right technology framework, while also adhering to compliance requirements

Banks have implemented chatbots for operational efficiency and improved customer access, but new AI capabilities expose key gaps in contextual and cognitive capabilities of current bots

While some banks have increased the use of AI in personalising services, marketing and risk management, legacy systems struggle to leverage and scale it effectively, and financial institutions must rethink technology frameworks to move towards AI-driven organisations

The Asian Banker’s survey across financial institutions (FIs) in seven countries in Asia reveals emerging trends in cybersecurity risks and fraud, pressing challenges and technology areas prioritised.

By combing various technologies such as artificial intelligence, big data, 5G, and internet of things, edge computing is a viable solution to issues such as data latency, waste of bandwidth and possible security breaches.

Growing transaction volumes are pushing Indian banks to rethink technology architecture to integrate cloud and data capabilities to meet growing transaction volumes. Indian fintechs and digital players see consumer growth, but also increased expectations and competition.

Ethereum’s recent software upgrade the ‘Merge’ is a key step in its future roadmap of development, but there remain several challenges that this emerging technology still needs to address.

The financial services industry is undergoing a massive shift to cloud, but the challenging technology transition for incumbents requires a strategic rethink of architecture, data, people and processes.

The hiring activity in the banking and financial services market will be driven by factors such as continuous digital transformation, new regulations and the issuance of digital banking licences

By 2022, banks will be spending as much as $12.3 billion on AI and cognitive technologies with the race underway to integrate the latest capabilities into financial services

The discussion on cybersecurity is being given increased importance in the boardroom as cybercrime goes global and data protection comes to the forefront