News
Asian banks facing threats from transformation and technology
Asia-Pacific banks must radically reform and slash costs as rapidly increasing competition from technology firms moving into banking transforms the sector Read more…
banking
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Building ethical AI into banking innovations
For the banking sector to engender trust in AI technology it is vital that innovation using AI is both ethical and explainable. Read more…
News
Singapore studying if fintechs should operate digital-only banks
Singapore’s central bank said it is studying whether to allow financial technology firms (fintechs) to operate digital-only banks in the city-state. Read more…
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Defining financial inclusion and its true value to society
At least 1.5 billion adults worldwide do not have access to financial services and, as a result, are not benefiting from financial inclusion. Read more…
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Forget AI, banks need to get rid of legacy systems to stand a chance
Banks will not stand a chance against FinTech start-ups crowding into the profitable bits of the market unless they fix their basic problems. Read more…
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Are traditional banks approaching their ‘Kodak moment’?
People are more confident using new digital banks and their services and, as my traditional banker friend said, we are approaching “the Kodak moment”. Read more…
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Mapping disruption across industries will look like a lava lamp
Disruption will not be consistent, nor global. It will be patchy, opportunistic and will depend to a huge extent on culture. It will look like a lava lamp. Read more…
Off the Wire
Digital upstarts disrupt traditional bank revenues: report
New entrants to the banking market – including challenger banks, non-bank payments institutions and big tech companies – are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according Read more…
News
Digital tech not responsible for anaemic inflation: ECB
FRANKFURT (Reuters) – Rapid technological advances cut inflation only marginally and temporarily, Bundesbank President Jens Weidmann said on Monday, weighing in on one of the biggest debates in modern central banking. With much of the Read more…
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Why (and how) the banks of the future must ‘Amazonize’ themselves
Open banking will require banks to ‘Amazonize’ themselves, where products are created as API services and distributed throughout the consumption of API services. Here’s how they could go about doing that. In his new book Read more…