TABInsights

✨ Wishing you all a joyous and prosperous Diwali! ✨ May this Festival of Lights illuminate your life with health, wealth, and happiness. Let’s celebrate new beginnings and the triumph of light over darkness. From all of us at TAB Global, Happy Diwali! 🪔🌟 #HappyDiwali #FestivalOfLights #Diwali2024 #TABGlobal #NewBeginnings #LightOverDarkness

The riddle of a poem can take this form And it is expressed in three lines in both English and Chinese. With golden light held in our hand, The full moon graces the Western Tower’s stand, Together at this moment, love’s strand. 金光闪闪手中握， 月满西楼共此时， 心心相印情自连。 #PoemRiddle #GoldenGlimmer #MoonlitVerse #WesternTowerElegance #LoveInWords #BilingualBeauty #CulturalHarmony #PoetryInTwoLanguages #MoonlightMagic #HeartfeltConnection #ElegantExpressions #ArtisticFusion #TheAsianBanker #TABGlobal

Recent outages highlight urgent need for technology risk and resilience management Read the full article: https://bit.ly/4dO1WWg The global outage of Microsoft Windows systems across airlines, banking, and healthcare sectors in July 2024 was an eye-opener for the industry. The corrupted software release, ironically, from the cybersecurity company CrowdStrike, that was tasked with protection, led to crashes and disruptions across 8.5 million computers. Internal systems at several banks became inoperable, trades were stalled, and channels, tellers, and ATMs were affected. Financial institutions (FIs) increasingly rely on multiple vendors for a range of enabling technologies, making outsourcing and vendor risk management extremely important. There have been several other vendor-led outages that have disrupted the operations of institutions in recent years. The Asian Banker conducted a survey across 10 leading FIs in APAC to assess their current challenges in technology risk management and how their strategy is evolving following the recent outage. It reveals several key challenges in technology risk and vendor management, especially as supply chains are widening and banks have limited visibility into third- and fourth-party vendors. The lack of transparency in vendors’ technology development and testing is rated as the biggest challenge by 40% of FIs. Inadequate testing and risk measures by vendors is considered the most challenging issue by 30% of FIs, while interdependence of systems is considered a significant challenge by 60%. John Howard Medina, Tushar Vartak Neeti Aggarwal, CFA Parametrix, SGX Group, Philippine Bank of Communications (PBCOM), RAKBANK, Monetary Authority of Singapore (MAS), European Union #GlobalOutage #CrowdStrike #Microsoft #JohnHowardMedina #TusharVartak #CyberCube #Parametrix #FinancialInstitutions #BusinessContinuity #DisasterRecovery #SystemInterdependence #CloudResilience #OperationalResilience #RiskManagement #SingaporeExchange #TABInsights #TheAsianBanker #TABGlobal

Southeast Asian fintechs prioritise cost management for sustained profitability Read the full article: https://bit.ly/3SJhylj Leading platform players Grab, GoTo, and Sea Group have intensified cost management efforts since 2023, aiming for profitability by the end of 2024. While all three have reduced expenses and streamlined operations, Sea Group has notably outperformed its rivals, showing strong growth into 2024. Fintech companies Grab and GoTo were forced to significantly reduce expenses during the pandemic years due to rising operating costs, reflecting a broader trend of fiscal prudence. In contrast, Sea Group, a consumer internet company founded in Singapore, turned its fintech segment profitable in 2023, allowing it to continue its growth trajectory with greater financial stability and strategic investments. Patrick Walujo, Anthony Tan Grab Financial Group, Grab, GXS Bank, GXBank, Superbank, Singtel, 카카오뱅크 Kakaobank, GoPay Indonesia, PT Bank Jago Tbk, SeaMoney, MariBank TAB Global #SoutheastAsia #PlatformPlayers #Grab #GoTo #SeaGroup #Operations #Profitability #Growth #Fintech #CostManagement #DigitalPayments #FinancialServices #Expansion #Investment #ConsumerCredit #DigitalBanking #TheAsianBanker #TABGlobal

Rapid developments in institutional crypto in recent months Read the full article: https://bit.ly/4bBm4cR Anith Daniel, group head of transaction banking services at Emirates NBD, said: "Tokenisation and digital currency are seeing a lot of interest and are likely to fuel the next wave of innovations. While the technology has progressed in leaps and bounds, use cases have still not progressed to commercial usage at scale pending clarity on regulations and interoperability. There are very interesting prospects with respect to 24/7 [availability], instant [transactions], programmability, etc. These are exciting prospects and certainly something to keep track of." Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp International Monetary Fund, Financial Stability Board (FSB), Ripple, J.P. Morgan, Banco Santander Colombia, Juniper Research, Financial Action Task Force (FATF), Animoca Brands, Stiftung Landesbank Baden-Württemberg, Bitpanda, PayPal, New York State Department of Financial Services, Paxos Kamil Kaczmarski, James Wallis, Yat Siu, Papuna Lezhava, Kristalina Georgieva, Kenneth O. D. Okwor, Mahmut Kutlukaya, PhD, FRM, Mengxin Xie, Fozan Fareed, Sonia Boulad, Jennifer Fowler, Ada Ziemyte, Alessandro Barbera, Maneesha Baljekar-Trees, Ada Ziemyte, Mitul Shah, Preetish Rao, Radha Madhuri Chakka, Saurabh Khandelwal,CQF, Srivatsan R., Bhaskar Gupta, Madhav Vora Kumardev C., Chris Kapfer, TAB Global #crypto #blockchain #digitalassets #financialservices #institutionalinvestors #bitcoin #ethereum #stablecoins #CBDCs #tokenisation #DeFi #regulation #crossborderpayments #micropayments #digitaltransformation #tabinsights #theasianbanker #tabglobal

Asia Pacific consumer finance sees diverse growth due to economic shifts Read the full article: https://bit.ly/3KT4h5k Consumer finance contributes less to total retail lending in most Asia Pacific markets, with the exception of the Philippines and India. Hong Kong and South Korea saw notable declines in the share of consumer finance relative to total retail lending from 2019 to 2023. Conversely, the Philippines experienced a significant increase in its proportion of consumer finance. In 12 key markets across Asia Pacific, 10 reported a decrease in the proportion of consumer finance relative to total retail lending from 2019 to 2023. Consumer finance encompasses unsecured loan categories such as credit card loans and personal loans. However, in Australia, Hong Kong, Japan, and South Korea, the data refers to non-mortgage lending that includes auto loans. Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp Bank of Korea, HDFC Bank, Housing Development Finance Corporation Plc Wendy Weng Meng Jiao, Chris Kapfer, TAB Global #consumerfinance #economicshifts #retaillending #unsecuredloans #creditcardloans #personalloans #nonmortgagelending #autoloans #marketvariations #privatespending #interestrates #householddebt #economicgrowth #inflation #pandemicimpact #tabinsights #theasianbanker #tabglobal

#ICYMI: Rapid developments in institutional crypto in recent months Read the full article: https://bit.ly/4bBm4cR Financial institutions are swiftly adopting blockchain and cryptocurrencies, catalysing regulatory discussions and heralding a significant shift in the global financial system. International Monetary Fund, Financial Stability Board (FSB), Ripple, J.P. Morgan, Banco Santander Colombia, Juniper Research, Financial Action Task Force (FATF), Animoca Brands, Stiftung Landesbank Baden-Württemberg, Bitpanda, PayPal, New York State Department of Financial Services, Paxos, Mastercard Kamil Kaczmarski, James Wallis, Yat Siu, Papuna Lezhava, Kristalina Georgieva, Kenneth O. D. Okwor, Mahmut Kutlukaya, PhD, FRM, Mengxin Xie, Fozan Fareed, Sonia Boulad, Jennifer Fowler, Ada Ziemyte, Alessandro Barbera, Maneesha Baljekar-Trees, Ada Ziemyte, Mitul Shah, Preetish Rao, Radha Madhuri Chakka, Saurabh Khandelwal,CQF, Srivatsan R., Bhaskar Gupta, Madhav Vora Kumardev C., Chris Kapfer, TAB Global #crypto #blockchain #digitalassets #financialservices #institutionalinvestors #bitcoin #ethereum #stablecoins #CBDCs #tokenisation #DeFi #regulation #crossborderpayments #micropayments #digitaltransformation #tabinsights #theasianbanker #tabglobal

Happy Dragon Boat Festival! 🐉🚣♂️🍃 May your day be filled with happiness and good fortune. Share your celebrations with us in the comments! #DragonBoatFestival #DragonBoatFestival2024 #Festive #Fun #Zongzi #Traditions #Celebration #Culture #FamilyTime #GoodFortune #Unity #JoyfulMoments

Rapid developments in institutional crypto in recent months Read the full article: https://bit.ly/4bBm4cR James Wallis, vice president, Central Bank Engagements and CBDCs at Ripple offered: “Clearly, although more work is required for the regulatory environment from country to country, over the next 12 to 24 months there will be overall a lot more progress globally to providing an environment to really implement the use of digital currencies, whether that be CBDCs or stablecoins or some other form, scaling up from the proof of concepts and pilots today.” Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp International Monetary Fund, Financial Stability Board (FSB), Ripple, J.P. Morgan, Banco Santander Colombia, Juniper Research, Financial Action Task Force (FATF), Animoca Brands, Stiftung Landesbank Baden-Württemberg, Bitpanda, PayPal, New York State Department of Financial Services, Paxos, Mastercard Kamil Kaczmarski, James Wallis, Yat Siu Kumardev C., Chris Kapfer, TAB Global #crypto #blockchain #digitalassets #financialservices #institutionalinvestors #bitcoin #ethereum #stablecoins #CBDCs #tokenisation #DeFi #regulation #crossborderpayments #micropayments #digitaltransformation #tabinsights #theasianbanker #tabglobal

Rapid developments in institutional crypto in recent months Read the full article: https://bit.ly/4bBm4cR The last half-year has witnessed an unprecedented acceleration in the adoption of cryptocurrency by financial institutions (FIs) beginning to recognise the value of digital assets. Leading FIs, once cautious, have begun embracing and incorporating blockchain and cryptocurrencies into their operational frameworks. This shift is primarily driven by the increasing awareness of the immense possibilities that blockchain technology holds in terms of providing secure, efficient, and transparent transactions. The increase in institutional interest has advanced regulatory discussions focused on establishing a secure and strong framework for the wider acceptance of digital assets. This dynamic environment hints at a future where cryptocurrencies take centre stage in the worldwide financial system, creating fresh opportunities for trading, investment, and financial services. Subscribe to TABInsights for more research notes and relevant articles: https://bit.ly/3MYtxsp International Monetary Fund, Financial Stability Board (FSB), Ripple, J.P. Morgan, Banco Santander Colombia, Juniper Research, Financial Action Task Force (FATF), Animoca Brands, Stiftung Landesbank Baden-Württemberg, Bitpanda, PayPal, New York State Department of Financial Services, Paxos, Mastercard Kamil Kaczmarski, James Wallis, Yat Siu Kumardev C., Chris Kapfer, TAB Global #crypto #blockchain #digitalassets #financialservices #institutionalinvestors #bitcoin #ethereum #stablecoins #CBDCs #tokenisation #DeFi #regulation #crossborderpayments #micropayments #digitaltransformation #tabinsights #theasianbanker #tabglobal