The Asian Banker

Leading retail financial institutions in the Philippines recognised for achievements in digital innovation, customer experience, and wealth management
Read the full article: https://awards.asianbankerforums.com/philippines-awards/

Union Bank of the Philippines was named the Best Retail Bank in the Philippines, while its digital arm, UnionDigital Bank, was awarded Best Digital Bank. Metrobank was voted by customers as the Most Recommended Retail Bank under the BankQuality awards. Meanwhile, Bank of the Philippine Islands’ Gold segment was hailed as the Best Wealth Management Bank in the country at The Asian Banker Philippine Awards 2024, held at Shangri-La The Fort, Manila on 26 September.

UnionBank of the Philippines was acknowledged as the Best Retail Bank for its digital innovation, strong retail partnerships, and seamless migration strategies. Leveraging its advanced digital platform, UnionBank became the first bank in the Philippines to run workloads on AWS Amazon Web Services (AWS) Local Zones. Its cloud-native architecture and mobile app enhanced the customer experience, reinforcing its market leadership.

UnionDigital Bank was awarded Best Digital Bank for its significant balance sheet expansion and achieving profitability through technology and the financial data of its parent company, UnionBank. UnionDigital formed strategic partnerships with 14 subsidiaries of parent conglomerate Aboitiz Group to streamline underwriting and improve loan approvals. It also collaborated with health and wellness platform mWell to integrate its banking services.

For more details and applications to the Philippine Excellence Awards 2025, visit: https://awards.asianbankerforums.com/philippines-awards

Chinabank PH, EastWest Bank, Security Bank, Metrobank, RCBC

Boon Ping Foo, TAB Global

| The Asian Banker Awards UnionBank was named the Best Retail Bank in the Philippines, while its digital arm, UnionDigital, was awarded Best Digital Bank. Metrobank was voted by customers as the Most Recommended Retail Bank under the BankQuality awards. Meanwhile, Bank of the Philippine Islands’ Gold segment was hailed as ...

Philippines' digital transformation fuels financial growth and inclusion
Read the full article: https://live.theasianbanker.com/video/philippines-digital-transformation-fuels-financial-growth-and-inclusion

Leaders and regulators in the Philippine banking and finance industry convened at Finance Philippines 2024 held on 26 September to discuss the vital role of digital transformation in driving financial growth and inclusion.

The Digital Payments Transformation Roadmap 2020-2023 of the Bangko Sentral ng Pilipinas (BSP) achieved its goals of digitising 50% of retail transactions and onboarding 70% of Filipino adults into the financial system by the end of 2023. These efforts have provided secure, accessible financial services to millions of Filipinos.

Looking ahead, BSP’s 2024-2026 roadmap focuses on boosting financial connectivity through initiatives like Open Finance and Project Nexus, aimed at enhancing cross-border payment interoperability in ASEAN. Programmes like Paleng-QR Ph and Bills Pay Ph continue to integrate digital payments into everyday life, supporting financial inclusion for businesses and individuals.

Click here to see more photos: https://www.facebook.com/media/set/?set=a.1025137456289060&type=3

For more details, visit: https://www.theasianbanker.com/finance-philippines-2024/

Bangko Sentral ng Pilipinas, Swift, ธนาคารแห่งประเทศไทย - Bank of Thailand, Bank Negara Malaysia, Cybercrime Investigation and Coordinating Center - CICC, Monetary Authority of Singapore, Bank for International Settlements, Chinabank PH, Land Bank of the Philippines, Union Bank of the Philippines

Boon Ping Foo, TAB Global

Philippines' digital transformation fuels financial growth and inclusion

Leaders in the Philippine banking industry gathered at Finance Philippines 2024 to discuss how digital transformation drives financial growth and inclusion. BSP's 2020-2023 roadmap achieved key milestones, with 50% of retail transactions digitized and 70% of adults onboarded into the financial system. The 2024-2026 roadmap focuses on enhancing connectivity with initiatives like Open Finance and Project Nexus.

Click to see more photos:
Full details here: https://theasianbanker.com/finance-philippines-2024/

Philippines' digital transformation fuels financial growth and inclusion
Leaders in the Philippine banking industry gathered at Finance Philippines 2024 to discuss how digital transformation drives financial growth and inclusion. BSP's 2020-2023 roadmap achieved key milestones, with 50% of retail transactions digitized and 70% of adults onboarded into the financial system. The 2024-2026 roadmap focuses on enhancing connectivity with initiatives like Open Finance and Project Nexus.

Full details here: https://theasianbanker.com/finance-philippines-2024/

國泰世華銀行 leads decarbonisation efforts in Asia Pacific
Read the full article: https://live.theasianbanker.com/video/cathay-united-bank-leads-decarbonisation-efforts-in-asia-pacific

Cathay United Bank (CUB) is at the forefront of advancing low-carbon initiatives across the Asia-Pacific region. The bank committed to aligning its sustainability strategies with international standards, extending its efforts to key overseas markets.

Michael WEN, executive vice president of CUB, stated: “As a member of the Coalition of Movers and Shakers on Sustainable Finance, Cathay United Bank aims to be the leading brand in green finance. Beyond our sustainability projects in Taiwan, we focused on aligning with international markets and guiding Asia-Pacific corporations in their net-zero transition.”

The Coalition of Movers and Shakers on Sustainable Finance was established in 2022 by leading Taiwanese banks under the supervision of the Financial Supervisory Commission. Coalition members have pledged to take active measures in green procurement, funding and engagement, information disclosure, assistance and promotion, and international collaboration to accelerate national and industrial net-zero transformation.

Asian Development Bank, Villar Foods, Apeiron Bioenergy

TAB Global

Cathay United Bank leads decarbonisation efforts in Asia Pacific CUB headlines the climate change imperatives in sustainable finance, driving green initiatives and net-zero targets aligned with global standards

Qatar Islamic Bank (QIB Group) integrates digital innovation and sustainability

Read the full article: https://www.theasianbanker.com/updates-and-articles/qib-integrates-digital-innovation-and-sustainability

Constantinos Constantinides, Chief Strategy and Digital Officer of Qatar Islamic Bank (QIB), discussed how the bank is redefining the future of banking through a committed integration of digital innovation, strategic fintech collaborations, and a strong focus on environmental, social, and governance (ESG) principles. QIB has implemented initiatives that enhance customer experience, operational efficiency, and contribute to a more sustainable and inclusive banking ecosystem.

QIB's digital transformation journey, recently highlighted at the Union of Arab Banks meeting hosted by the Qatar Central Bank, includes the development of a digital banking platform tailored to various customer segments. One significant aspect is an app designed specifically for blue-collar workers, available in eight languages, which facilitates international transfers and payments. This initiative is part of QIB’s effort to promote financial inclusion, particularly for segments that traditionally have limited access to banking services.

Financial inclusion is a crucial focus in the Middle East, where many migrant workers and lower-income individuals face barriers to accessing financial services. QIB’s app directly addresses this gap by providing an easy-to-use platform for essential banking activities. The app's success is evident in the 27% year-on-year increase in international transfers from January to August and a 493% growth in direct corridors, supporting transactions with eight key countries. This not only illustrates QIB's dedication to financial inclusion but also positions the bank as a facilitator of cross-border transactions for underserved communities.

Damaan Islamic Insurance Company - Beema, Visa

Boon Ping Foo, TAB Global

QIB integrates digital innovation and sustainability QIB seeks to pioneer the integration of digital innovation and sustainability into its operations. The bank's strategic focus on financial inclusion, carbon tracking, and a digital-first approach positions it as one of the leaders in the evolving banking landscape of the Middle East.

James Chen, the visionary championing global eye care accessibility James Chen, a well-known Hong Kong-based philanthropist, has made it his life's mission to address the world’s most significant unaddressed disability—poor vision.

📢 Big News! 📢

We are proud to announce that Atty. Charina B. De Vera-Yap, Director of the Consumer Protection and Market Conduct Office at the Bangko Sentral ng Pilipinas (BSP), will be our keynote speaker at Finance Philippines 2024!

Atty. De Vera-Yap has been a leading force in consumer protection, driving initiatives that place consumers’ interests at the forefront of financial services. Her innovative approach, including the creation of the AI-powered chatbot BOB, has transformed how we protect and empower Filipino consumers.

But that's not all! Finance Philippines 2024 will feature an exceptional lineup of speakers, including: Eugene S. Acevedo, Sonja Davidovic, Lito Villanueva, Robert S. Paguia, Dr. Adrienne Heinrich, Kenneth Catugas, Malek Mroueh, Dennis D. Omila, Lucose T. Eralil, Dr. Adrienne Heinrich, Marthyn Cuan, Dennis M. Tangonan, Noel Tagaza, Maria Cristina “Ginbee” L. GO

Secure Your Complimentary Pass Today!

💡 If you're a banker based in the Philippines, message Joshua Sangalang or email [email protected] today to get a complimentary pass to the conference!

👉To Register Now and for more details about the event, visit: https://www.theasianbanker.com/finance-philippines-2024/

📅 Date: Thursday, 26 September, 2024
📍 Venue: Shangri-La The Fort, Manila, Philippines
🗓️ View full agenda here: https://www.theasianbanker.com/finance-philippines-2024/agenda

Standard Chartered elevates the mobile banking experience in Hong Kong with innovative features and advanced UI/UX
Read the full article: https://live.theasianbanker.com/video/standard-chartered-elevates-the-mobile-banking-experience-in-hong-kong-with-innovative-features-and-advanced-ui-ux

Standard Chartered Bank Hong Kong has launched a major upgrade to its mobile banking application, SC Mobile Next Gen, the first significant update since 2018. This initiative sought to bridge the gap between traditional banking apps and digital banks’ superior user interface and experience (UI/UX) capabilities, thereby improving the overall customer experience in line with rising expectations for an intuitive, easy-to-use, and engaging mobile banking platform.

Traditional banking apps frequently have cluttered interfaces, making it difficult for users to navigate and find necessary functions quickly. In contrast, fintech apps prioritise streamlined, user-centric designs that improve usability and engagement.

A common issue with traditional banking apps is a lack of simple and organised functionalities, which leads to user frustration. Fintech companies prioritise intuitive navigation, personalised dashboards, and clear, jargon-free information to make financial management simpler and more accessible.

Standard Chartered Hong Kong

Standard Chartered elevates the mobile banking experience in Hong Kong with innovative features and advanced UI/UX The revamped mobile banking app, SC Mobile Next Gen, provides innovative features that address customer demands for intuitive navigation, streamlined functionality, and personalised financial management in an increasingly digital world

CTBC’s strategic approach to private banking growth through innovation and global expansion In an in-depth interview with John Yang, Executive Vice President and Head of Private Wealth Management, and Freddie Chen, Senior Vice President and Head of International Private Banking, CTBC Bank reveals how it drives private banking growth through the integration of family wealth governance, digi...

We are thrilled to welcome CryptonewsZ as the official media partner for Finance Philippines 2024! 🎉

CryptoNewz, a leading voice in the world of blockchain, fintech, and digital innovation, will be joining forces with TAB Global to bring you exclusive insights, live updates, and behind-the-scenes coverage of the most anticipated financial conference in the Philippines.

Join us in this exciting journey as we delve into the future of finance in the Philippines and beyond!

💡 If you're a banker based in the Philippines, message Joshua Sangalang or email [email protected] today to get a complimentary pass to the conference!

🚀 Discover how Alibaba's innovations are shaping technology and commerce!

Exciting news! Join us in Beijing from October 16th to 19th for an exclusive Innovation Study Tour with The Banking Academy, where you'll explore Alibaba's latest breakthroughs and their impact on global industries.

💡 Highlights of Alibaba's 2024 Breakthroughs:

● Cloud Leadership: Recognised as the fourth-largest global and leading cloud provider in Asia Pacific by Gartner.
● New Digital Technology Hub: Driving innovation through its new digital company under Taobao and Tmall.
● AI & LLM: Alibaba’s Tongyi Qianwen is revolutionising enterprise solutions with cutting-edge AI advancements.
● Global E-Commerce Strategy: AliExpress and Lazada are enhancing customer experiences with their innovative 'Choice' model.

🌍 Why attend?
● Pioneering Tech: Witness first-hand how AI and cloud solutions are transforming industries.
● Business Insights: Learn how Alibaba’s innovations can inspire growth in financial services.
● Innovation at Scale: Observe how Alibaba balances rapid growth and operational efficiency.

📅 Don’t miss out on this transformative experience – only 30 seats available!

👉 Register Now
For a chance to visit Alibaba and other key market players, join the Beijing Innovation Tour. Explore more and seize this unique opportunity!

For more details, contact [email protected] or call +65 8874 3111.

Leading Indonesian financial institutions recognised for achievements in retail banking and financial technology innovation
Read the full article: https://awards.asianbankerforums.com/indonesia-awards/

Bank Mandiri was recognised for the Best Personalisation Initiative in Indonesia with its Livin’ Personalisation' programme under its Livin’ lifestyle mobile app. By leveraging generative artificial intelligence (GenAI), the initiative significantly boosted customer engagement and transaction growth. With 25 million mobile users and over 100 machine learning models, Mandiri saw a 10% rise in monthly transactions per user and a 1.2 times improvement in credit card take-up. Micro-segmentation and real-time offers led to a 30% boost in customer engagement and quick response (QR) transactions.

The bank also won the accolade for Best Data Analytics Implementation in Indonesia for its Self-Service Business Intelligence platform. The bank upgraded its infrastructure, transitioning to a 64-core server and integrating augmented analytics, enabling the platform to process over 200 billion data points. This led to a 50% to 60% increase in data-driven decision-making among 5,000 users, providing near real-time reporting, faster dashboard refresh times, and more efficient operational insights.

Bank Saqu was awarded Best Digital Savings Innovation in Indonesia for its Busposito and Tabungmatic solutions, which have been pivotal in driving financial inclusion. The integration of its Ragam Saku financial management tool helped customers better manage their finances. The ‘Busposito’ social savings product allows participants to raise interest rates up to 7% per annum through community engagement, while the ‘Tabungmatic’ round-up saver automatically deposits spare change into the Saku Booster, offering interest rates as high as 10%.

Click here to see more photos: https://lnkd.in/gyx5Z_UU
For more details, visit: https://lnkd.in/g5ycxRb4
See the full list of winners here: https://lnkd.in/g5ycxRb4

Future applications to the Indonesia Excellence Awards 2025 can be made here: https://lnkd.in/gesTgXv7

Boon Ping Foo, TAB Global

Project Nexus to transform global payments, going live in 2026
Read the full article: https://www.theasianbanker.com/updates-and-articles/project-nexus-to-transform-global-payments-going-live-in-2026

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.

Bank for International Settlements, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, ธนาคารแห่งประเทศไทย - Bank of Thailand, RBI Says, World Bank, HSBC

TAB Global

Project Nexus to transform global payments, going live in 2026 Project Nexus, led by Bank for International Settlements (BIS) and supported by major regulators including the Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, Bank of Thailand and Reserve Bank of India, will revolutionise global payments by 2026, delivering fast,....

Quantum technology can revolutionise finance, but create new problems
Read the full article: https://www.theasianbanker.com/updates-and-articles/quantum-technology-can-revolutionise-finance,-but-create-new-problems

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.

National Institute of Standards and Technology (NIST), Monetary Authority of Singapore, World Economic Forum, DBS, HSBC, OCBC, UOB, SPTel Pte Ltd, SpeQtral, Bank for International Settlements, Banque de France, Deutsche Bundesbank, JPMorganChase

TAB Global

Quantum technology can revolutionise finance, but create new problems 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.

North Asia’s global banks ponder AI, cloud, and resilience for a competitive edge
Read the full article: https://live.theasianbanker.com/video/north-asias-global-banks-ponder-ai-cloud-and-resilience-for-a-competitive-edge

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, 三菱UFJ銀行; 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.

Boon Ping Foo, TAB Global