The Asian Banker’s Post

Finance Philippines 2024 Register Now: https://bit.ly/3W9oIBb Thursday, 26 September 2024 | 2 PM Manila, Philippines Time Riding the Wave: Gearing Up for Growth and Inclusion The Philippines is poised for a robust GDP growth of 6%-7% in 2024, but achieving this requires financial institutions to embrace adaptability and innovation. This event is your gateway to the future of finance, focusing on: ● Fintech Collaboration: Partnering with fintech firms to create hyper-personalized, digital-first products. ● Tokenisation Technologies: Accelerating transactions and enhancing revenue streams. ● Holistic Digital Transformation: Integrating AI, APIs, and RPA for improved decision-making and efficiency. ● Financial Inclusion: Expanding access through user-friendly mobile solutions. Finance Philippines 2024 is the premier platform where key players – financial institutions, fintech disruptors, and tech giants – come together for a day of intense discussions on the trends shaping the financial future of the Philippines. Don't miss this opportunity to be part of the conversation and drive sustainable innovation within the sector! 📅 Date: Thursday, 26 September 2024 📍 Venue: Shangri-La The Fort, Manila For detailed agenda: https://bit.ly/3XLKfRT Stay ahead of the curve and gear up for growth and inclusion. See you there! For inquiries or any other concerns, please feel free to contact Grace Zhi: gzhi@tab.global Usama Muhammad, Essraa Mansi, TAB Global #FinancePhilippines #FintechCollaboration #TokenisationTechnologies #DigitalTransformation #FinancialInclusion #Innovation #PhilippinesGrowth #FutureOfFinance #TheAsianBanker #TABGlobal

Project Nexus to transform global payments, going live in 2026 Read the full article: https://bit.ly/3B616pe Project Nexus is poised to revolutionise the global payments landscape by seamlessly connecting instant payment systems (IPS) across countries, significantly enhancing transaction speed, lowering costs, and boosting cross-border connectivity. Project Nexus is designed to create a global network of interconnected IPS, enabling near-instant cross-border payments. The project's primary objectives are to reduce transaction costs, enhance payment speed, and increase transparency in international transactions. By establishing a uniform standard, Project Nexus aims to simplify cross-border transactions and ensure consistency across diverse countries. Nexus is a ‘behind-the-scenes’ service that will be used by IPS operators and their member payment service providers (PSPs) to route instant cross-border payments. An IPS operator connects to Nexus and then uses a common set of application programming interfaces (APIs) and ISO 20022 messages to exchange payment instructions and other related information with another IPS operator via the Nexus technology. This standardisation benefits IPS operators by eliminating the need to build multiple bilateral links. This innovation will enable transactions to be processed within 60 seconds or less, greatly enhancing transaction speed and access. Maha El Dimachki, Abdul Rasheed Abdul Ghaffour, Sethaput Suthiwartnarueput, Ma-an David Bank for International Settlements – BIS, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore (MAS), Bank of Thailand, Reserve Bank of India (RBI), The World Bank, HSBC TAB Global #ProjectNexus #GlobalPayments #CrossBorderPayments #InstantPayments #BISInnovationHub #FinancialInclusion #ASEANPayments #UPIIntegration #G20Roadmap #DigitalPayments #FintechInnovation #PaymentInfrastructure #MonetaryAuthority #ReserveBankIndia #SeamlessTransactions #EconomicIntegration #TheAsianBanker #TABGlobal

Indonesia charts path for financial sector deepening and resilience with Vision 2045 Read the full article: https://bit.ly/4glX4ZY At The Asian Banker Finance Indonesia 2024, co-hosted with Perbanas (the Indonesian Association of Banks), Indonesia’s top financial leaders, regulators and policymakers outlined the roadmap for the country’s financial sector transformation under Vision 2045. The event themed “Innovation and regulatory excellence: Charting our future in banking” was a platform for in-depth discussions on how Indonesia plans to deepen its financial sector, increase resilience, and foster digital finance innovations. Dr.Adi Budiarso, FCPA, Director of the Financial Sector Policy Centre, Fiscal Policy Agency at the Ministry of Finance, focused on the long-term strategy to deepen financial services and expand the roles of banking, insurance, and pension funds. Dr. M. Zulkifli Salim, Deputy Director of Banking Development at Otoritas Jasa Keuangan (OJK), the Indonesian Financial Services Authority, presented critical regulatory guidelines to ensure banking resilience in the face of digitalisation. Both leaders emphasised the importance of supporting micro, small and medium sized enterprises (MSMEs) and harnessing the potential of the digital economy, which is a significant driver in Indonesia’s financial deepening strategy. Click here to see more photos: https://bit.ly/4d6yHwH For more details, visit: https://bit.ly/3XnSS35 Irianto Gunawan, Djumariah Tenteram, Hariantono YB, Urs Bolt, Dr.Adi Budiarso, FCPA, M. Zulkifli Salim, Anika Faisal, David Jimenez Maireles, Nitesh Uppal, Destya D. Pradityo, Frankie Wai, Taruni Ramamurthi, AC Mahendra K Datu, Paul Inisian Kristandi, Yudi Adicawarman, Foo Boon Ping 胡文彬, Chris Kapfer, Vera Eve Lim Central Bank of Indonesia, Bank for International Settlements – BIS TAB Global #QuantumComputing #NIST #MAS #CybersecurityThreats #WEF #BIS #FinancialTransformation #PostQuantumEncryption #JPMorganChase #QuantumKeyDistribution #DigitalSecurity #DBS #HSBC #OCBC #FutureOfFinance #AIAndFinance #TheAsianBanker #TABGlobal

Quantum technology can revolutionise finance, but create new problems Read the full article: https://bit.ly/3ZnnWmr Quantum computing can transform financial services by improving computation, modelling, and risk management. However, it also poses cybersecurity risks as it can break commonly used encryption, compromising the integrity of financial infrastructure. ● Quantum technologies bring significant opportunities to the financial sector but pose cybersecurity risks ● The US National Institute of Standards and Technology has released three post-quantum encryption tools designed to protect a wide range of electronic information from quantum computer attacks ● The Monetary Authority of Singapore has teamed up with major banks to study how Quantum Key Distribution (QKD) can protect data transfers Whenever you make a bank transaction online or send confidential messages, you can rest assured that your data and sensitive information are protected by cryptographic algorithms. But in roughly 10 years, we may see the emergence of powerful quantum computers that can break current encryption securing everything we do online. Sebastian Buckup, Suman Ziaullah, Vincent Loy, Eugene Huang, Tancy Tan, Praveen Raina, Albert Kho, Charles Lim National Institute of Standards and Technology (NIST), Monetary Authority of Singapore (MAS), World Economic Forum, Financial Conduct Authority, DBS Bank, HSBC, OCBC, UOB, SPTel Pte Ltd, SpeQtral, Bank for International Settlements – BIS, Banque de France, Deutsche Bundesbank, JPMorganChase Czeriza Vigilia, TAB Global #QuantumComputing #Encryption #Cybersecurity #FinancialServices #QuantumTechnology #AI #MachineLearning #RiskManagement #DataSecurity #PostQuantumEncryption #QuantumKeyDistribution #FinancialSector #DigitalTransformation #Cryptography #TechnologyInnovation #TheAsianBanker #TABGlobal

North Asia’s global banks ponder AI, cloud, and resilience for a competitive edge Read the full article: https://bit.ly/3XEDRv3 At the Temenos Regional Forum North Asia 2024 in Hong Kong on 11 September, a panel of senior banking and technology leaders came together to discuss the future of banking in the region. Among the participants were Guillaume Huet, Director of Accenture Financial Services and co-chair of the Data/AI sub-committee of the FinTech Association of Hong Kong; Victor Pang, Head of Operations for Asia Pacific at Japan’s largest mega bank, MUFG; Faraaz Ali, Global Head of Digital Engagement and Commercialisation at global bank, Standard Chartered; and Ramki Ramakrishnan, Managing Director for Asia Pacific at Temenos. Together, they explored how their organisations are addressing key challenges, including demographic shifts, regulatory pressures, and the rapid advancement of digital technologies. Artificial intelligence (AI) and cloud computing emerged as central themes during the discussion, with the panellists unanimously recognising these technologies as transformative forces in the banking industry. AI is driving automation and improving decision-making processes across various banking functions. Banks are increasingly deploying AI solutions to enhance customer service, streamline operations, and bolster security efforts. Foo Boon Ping 胡文彬, TAB Global #OperationalResilience #DigitalTechnologies #QuantumComputing #FintechPartnerships #OpenBanking #ArtificialIntelligence #CloudComputing #Cybersecurity #CustomerCentric #FinancialInnovation #BankingTransformation #AIinBanking #TechInnovation #FutureOfBanking #DigitalBanking #TheAsianBanker #TABGlobal

Finance Indonesia 2024 Innovation and Regulatory Excellence: Charting Our Future in Banking At Finance Indonesia 2024, the industry leaders discussed the future of banking in Indonesia, focusing on key trends shaping the sector: ● Balancing Hyper-Personalization in Banking: Managing data privacy and security concerns while offering personalized services. ● Promoting Financial Inclusion: Leveraging open banking APIs and fintech innovations to reach unbanked populations. ● Cutting-Edge Technologies: Exploring new technologies that are transforming business models and customer engagement. For detailed agenda: https://bit.ly/3ZdYbVz We explored how Indonesia’s financial sector can thrive amid regulatory changes, technological advancements, and evolving customer needs in this insightful discussion. For inquiries or any other concerns, please feel free to contact Grace Zhi: gzhi@tab.global Irianto Gunawan, Djumariah Tenteram, Hariantono YB, Urs Bolt, Dr.Adi Budiarso, FCPA, M. Zulkifli Salim, Anika Faisal, David Jimenez Maireles, Nitesh Uppal, Destya D. Pradityo, Frankie Wai, Taruni Ramamurthi, AC Mahendra K Datu, Paul Inisian Kristandi, Yudi Adicawarman, Foo Boon Ping 胡文彬, Chris Kapfer Usama Muhammad, TAB Global #FinanceIndonesia2024 #BankingInnovation #RegulatoryExcellence #IndonesianEconomy #FintechRevolution #OpenBankingAPIs #CashlessPayments #FinancialInclusion #SMEFinancing #DataPrivacy #HyperPersonalization #TechnologicalAdvancements #EconomicGrowth #CustomerEngagement #JakartaEvent #SustainableFinance #TheAsianBanker #TABGlobal

LOLC Cambodia drives financial inclusion with new technology Read the full article: https://bit.ly/3MKpAqo LOLC Cambodia, one of the leaders in the Cambodian microfinance sector, is embracing technological advancements to expand its reach and improve services. Chief information officer (CIO) Duleep Liyanage discussed how the institution is implementing new systems to better serve its customers and enhance financial inclusion throughout the country. LOLC Cambodia has its majority stakeholders from LOLC Asia Private Limited, based in Singapore. Over the years, LOLC Cambodia has grown to become one of the largest microfinance institutions in the country, serving a wide range of customers, including rural communities, small businesses, and women entrepreneurs. The microfinance institution has played a significant role in promoting financial inclusion in Cambodia, providing access to credit and other financial services to those who are often excluded from the formal banking sector. Its success in Cambodia has been driven by its commitment to innovation and its ability to adapt to the unique challenges of the Cambodian market. LOLC Asia, Temenos, National Bank of Cambodia Foo Boon Ping 胡文彬, TAB Global #FinancialInclusion #DigitalBanking #Microfinance #MobilePayments #BlockchainTechnology #CoreBanking #CustomerExperience #TechnologyInnovation #BankingSolutions #RuralDevelopment #FinancialLiteracy #DigitalTransformation #CambodiaFinance #CrossBorderPayments #SoutheastAsiaFinance #TheAsianBanker #TABGobal

HSBC revamps trade finance with strategic collaborations and client-centric solutions Read the full article: https://bit.ly/4dWbPBf In response to shifting global trade patterns, HSBC is refocusing its efforts through its newly rebranded Global Trade Solutions. It is embracing data-led financing and a solution-centric approach to adapt to the evolving trade finance landscape in the region. Aditya Gahlaut, Asia Pacific co-head of global trade solutions at HSBC, emphasised the bank’s strong market presence and extensive network as key factors in navigating the changing trade finance landscape. By leveraging these strengths, HSBC is well-positioned to adapt to the reconfiguration of supply chains and trade flows across the region. HSBC, recognised as a leading trade finance bank in Asia, claims a market-leading position in the region. By leveraging its extensive network across 19 Asia Pacific markets, the bank captures 90% of its customers' regional trade flows. The bank highlights that its trade finance revenue is significantly higher than its closest competitors, with Global Trade and Receivables Finance (GRTF) annual revenue reaching $2.7 billion in 2023. Dowsure Siddharth Chandani, TAB Global #TradeFinance #GlobalTrade #FintechPartnerships #CrossBorderEcommerce #SupplyChainSolutions #BusinessInnovation #DigitalTransformation #WorkingCapital #MerchantSolutions #TradeFlows #EcosystemFinancing #DataDrivenFinance #TradeSolutions #EconomicGrowth #ASEANMarkets #TheAsianBanker #TABGlobal

Barclays bolsters institutional payment processing in APAC with $1B infrastructure investments Read the full article: https://bit.ly/3Xgqmk5 Barclays' $1 billion investment in global payment infrastructure aims to expand client access to local instant payment systems while enhancing cost-efficiency, speed, and risk management in a competitive market. Carl Hassey, head of Barclays GBP Clearing Solutions, and Christopher Selfe from Global Financial Institution Group (FIG) Cash Sales, discussed the bank’s strategic investments into modernising its global payment infrastructure. They emphasised how the integration of local instant payment systems (IPSs) is streamlining and future-proofing payment clearing and processing for institutional clients. As low-value payment volumes surge, there is a global push to expand access to IPS. In Asia Pacific, this trend is driving regional integration of financial infrastructure, fostering competition and leading bank and non-bank players to offer faster, more transparent and reliable cross-border transactions. Swift, Pay.UK, The Clearing House Foo Boon Ping 胡文彬, TAB Global #Fintech #InstantPayments #CrossBorderTransactions #CommandCentres #PaymentSolutions #GBPClearing #SwiftPayments #FinancialInnovation #DigitalTransformation #APIStrategy #GlobalPayments #PaymentInfrastructure #ClientExperience #Barclays #TheAsianBanker #TABGlobal

CHID Bank modernises for Myanmar’s regulatory shift Read the full article: https://bit.ly/3Xn2kUm Soe Sandar Aung, head of core and digital banking at CHID Bank, discussed how the bank is updating its operations to meet new regulatory demands, focusing on digital transformation to improve efficiency and customer service. Myanmar’s banking sector is undergoing significant changes as new regulations are introduced to ensure financial stability and compliance. For Construction Housing and Infrastructure Development Bank (CHID Bank), which has a long history of serving the country's infrastructure and housing development needs, these regulatory shifts have necessitated a comprehensive update to its operational framework. Soe Sandar Aung, who leads the CHID Bank's core and digital banking initiatives, is at the forefront of these changes, steering through a digital transformation that aims to enhance both efficiency and customer service. Connect with senior banking decision-makers and industry practitioners at Finance Indonesia on 12 September 2024. This year’s theme, Innovation and regulatory excellence: Charting our future in banking, will explore the key trends shaping the industry. For more information, visit: https://lnkd.in/gpRDCjfc Temenos Foo Boon Ping 胡文彬, TAB Global #DigitalTransformation #BankingInnovation #CustomerExperience #FinancialInclusion #CoreBankingSystem #AIChatbots #MobileBanking #RegulatoryCompliance #FinancialStability #BlockchainTechnology #MyanmarBanking #InfrastructureDevelopment #TemenosBanking #RealTimeBanking #AutomationInBanking #TheAsianBanker #TABGlobal