Financial Services News

Partnering with US technology services firm IBM , the Bank of Tokyo-Mitsubishi will use blockchain technology for documents management in the Asia-Pacific from next year.

Japan and Indonesia have extended the bilateral currency swap agreement which allows them to settle trade agreements without the US dollar.

Government agency Callahan Innovation has launched three new accelerator programs to help place Kiwi fintech on the map.

Kiwibank, Xero, Callaghan Innovation and Creative HQ have unveiled plans to launch a fintech accelerator to fund and support eight Kiwi start-ups hoping to expand into global markets.

The Commonwealth Bank roll-out of locally designed virtual reality equipment learning will see Australian school students brought together under a revitalised financial education program.

Standard Chartered Bank has today announced a partnership, offering all bank credit card holders 25 per cent cashback on global Uber rides.

A total of 34 microfinance institutions in Nepal have formed a consortium to set up a core banking platform.

The growth of financial technology in Thailand is set to continue, with increasing numbers of banks now choosing to engage with fintech, said PwC.

Banks recognise the challenge from digital competitors and believe they can face it with adaptation, acquisition and collaboration solutions, according to the ACCA.

KPMG is continuing to promote fintech collaboration opportunities, with its corporate fintech accelerator program, mLabs, continuing to deliver strong results since its August launch.

Digital solutions are no longer restricted to traditional global hotspots, with the Asian fintech sector readying itself to compete with new developing players entering the field. 

Trust in banks is lagging behind digital-only services, with nearly half of consumers reporting decreased dependence on their bank, according to the EY 2016 Global Consumer Banking Survey.

Cloud-based documentation platform, NowInfinity, has completed a restructure, which will see it expand its business operations.

Banks across Cambodia have pledged their commitment to sustainability, signing an agreement to integrate environment safeguards into finance decisions. 

Japan’s major banks are pouring money into fintech start-ups after the abolition of law which restricted ownership to 5 per cent.