Yap says Chinese investors are happy to invest and receive advice digitally because of the pervasiveness of financial technology, or fintech, in daily life.
New to the list, Grab is making headway with its plans to expand beyond its traditional domain of ride-hailing as it positions to be the go-to app for transport, food, delivery and payment in Southeast Asia.
Ping An went on to add that leveraging blockchain’s distributed ledger technology, financial institutions will potentially be able to access real-time, secure and comprehensive trade information to conduct the banks’ risk assessment on loans.
Trade finance transactions were worth over $9 trillion in 2017, but the industry is heavily paper-based, and follows processes and procedures that have changed little in decades, or even centuries.
The bank does not believe in focusing on digital banking, but believes in a digital transformation throughout the bank, he said, in a slight dig at his peers.
A client since 2005, Krungsri Asset uses Charles River IMS for portfolio management, trading and compliance, including cash management, currency hedging and FX across the front office.
Unveiled during Hong Kong Fintech Week, the research reveals that 84% of the top 146 banks in Asia Pacific are considering collaborating with external partners to enhance their Open Banking capabilities between 2018 and 2020.