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NEWS

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OCBC's all for digital transformation, but is not keen on separate digital bank

Singapore

OCBC Bank's digital transformation is bearing fruit, with more customers transacting digitally and the initiative is also helping to drive costs down, said its chief executive Samuel Tsien.

But OCBC will not create digital banks, nor apply for an Internet bank licence in Hong Kong, Mr Tsien said on Thursday following the release of its Q3 results.

OCBC does not ...more

Robo-advisory service for UOBAM corporate clients

UOB Asset Management (UOBAM) is starting an initiative to enable corporate investors to set up customised digital investment portfolios to meet specific investment goals.

The initiative is being offered through the enhanced UOBAM Invest, a digital advisory service that is now in its second phase. Corporate investors can go online at UOBAM Invest and use the Digital Adviser planner to invest ...more

Edmund Koh named first Singaporean president of UBS Asia Pacific

Singapore

SWISS investment bank UBS has appointed industry veteran Edmund Koh as the first Singaporean president of UBS Asia Pacific, promoting him from his previous position as head of wealth management for Asia-Pacific and country head Singapore.

He also joins the group executive board (GEB) of UBS Group AG, with both positions effective Jan 1, 2019.

Mr Koh will oversee ...more

UOB launches eLab to personalise digital services

Singapore

UNITED Overseas Bank (UOB) on Thursday launched a pan-regional Engagement Lab (eLab) to personalise the way in which it converses with and serves customers of its upcoming Digital Bank services.

In August, the bank announced plans to introduce a Digital Bank for Asean customers that will use a data-centric business model to understand individual customer banking needs and ...more

Banking veteran Mukhtar Hussain to become HSBC (Singapore) chairman and director

Singapore

HSBC BANK (Singapore) has appointed Mukhtar Hussain as its chairman and director effective Oct 17, as the locally incorporated arm of The Hongkong and Shanghai Banking Corporation seeks to capture Asean business and deepen Singapore's role as a partner in the Belt and Road Initiative.

Mr Hussain, a HSBC veteran who joined in 1982, has been the head of Belt and Road Initiative ...more

Connecting clients to Asean and BRI, the StanChart way

AS global banks ride Asean's heady growth and China's Belt & Road Initiative (BRI) projects, Standard Chartered's regional head Judy Hsu has her work cut out for her. What will help Ms Hsu - who took on the post of StanChart's regional chief executive, Asean and South Asia (ASA) on June 1, 2018 - was her former role as the bank's Singapore CEO.

Singapore is the second biggest contributor to ...more

Who will be winner in e-payments: banks, independents or telcos?

OVER the next 18 months one of the more noticeable ways in which technology will impact daily life in Southeast Asia will be the means by which we pay for things. We will make fewer payments with cash and cheques and spend less time visiting bank branches and ATMs.

Instead, we will be swiping plastic cards, scanning QR codes and transferring money to friends and merchants with a couple of ...more

Julius Baer primes for second M&A wave in private banking

Singapore

JULIUS Baer, ranked the fifth-largest private bank in Asia, expects consolidation in the private-banking market in the next three years, as competing players buckle under the strain of costs and call it quits, said its top executive.

Speaking to The Business Times in Singapore, Bernhard Hodler, the bank's chief executive, said what sets the incoming second wave of mergers ...more

VP Bank safely ahead of the game

Singapore

TEN years ago, Liechtenstein-based VP Bank received a licence from the Monetary Authority of Singapore (MAS) in June to establish a new bank in the city-state. Shortly after, on Sept 15, Lehman Brothers filed for the largest bankruptcy in US history, sending the global financial world crashing and subjecting the boutique bank's business model to its greatest stress test.

Fortunately, ...more

Singtel launches network for roaming mobile wallets in Asia

SINGTEL looks to set itself apart in an increasingly crowded space by coming in to unify mobile wallets for cross-border use, tapping on an estimated US$3 billion opportunity for telcos advancing into e-payments.

Singapore's largest telco on Tuesday launched VIA, its cross-border mobile payment alliance, with its regional associate AIS and Kasikornbank, Thailand's largest digital bank.

Singtel ...more
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