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Banks to tackle 'black hole' of cross-border payments

THE "black hole" of cross-border payments may be demystified slowly, as banks in Asia and around the world are keen to tap services to track payment flows, and in time, to recall payments in the event of fraud. Some 24 banks in the Asia-Pacific have signed up for a new cross-border tracking service launched by payment network service Swift, as the financial institutions seek better ways to meet security and compliance demands using technology....


Insurers have to tackle the uncertainties of autonomous vehicles

THE global market for driverless cars is expected to reach US$42 billion by 2025 , with more than 30 companies around the world already known to have invested heavily in the necessary R&D. Singapore, as part of its Smart Nation journey, is now joining the movement and making headway in this space. Driverless vehicle trials are already taking place at one-north, Nanyang Technological University, Gardens by the Bay and Chinese Garden. SMRT has...


OCBC taps Indonesian wealth with new onshore private banking services

OCBC looks to entrench itself deeper in the wealth management business in this region by tapping into the burgeoning wealth in Indonesia that is held onshore. The move also follows a headline tax amnesty programme in Indonesia that led to a total repatriation of 84.5 trillion rupiah (S$8.8 billion) from Singapore to Indonesia this year. OCBC on Monday launched its onshore private banking in Indonesia through its subsidiary OCBC NISP, of which...


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