New Efma report explores the strategies Asia Pacific banks are adopting to take them into the future

Efma’s latest Regional Review brings together bank executives to highlight how banks in Asia Pacific are employing the latest digital technologies such as AI, blockchain, chatbots, mobile apps, and open APIs to prepare for the future of banking.

Publish date: 26 November 2019
Theme : Transformation

Efma has released the latest edition in its yearly Regional Review series that explores how major retail banks in the Asia Pacific (APAC) region are crafting their digital strategies of the future to adapt to the evolving financial services landscape. From biometrics to personalized offerings to fintech collaborations, this report demonstrates how banks are using technology to prepare for the future.  

Efma’s APAC Review 2019: Banks of the future report is packed with insights into the latest banking products, offerings and customer experience developments in Australia, New Zealand, Japan, Korea, China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, and Cambodia. It contains a wide collection of exclusive interviews, case studies and innovation overviews that show what is driving institutions in the region to place innovation at the center of their operations.  

Key executives from organizations such as CTBC Bank, DBS, Philippine National Bank, Security Bank, Standard Chartered Bank, and more discuss how high levels of digital and mobile technology adoption and intense fintech activity across APAC are driving banks’ transformation efforts in developed and developing markets alike. They reveal how the intense competition in the region has led banks to nurture a culture of experimentation to explore the most effective ways to transform their business models for a digital present and future.

With pioneering innovations from across the region showcased throughout, the Regional Review also highlights how banks are using new technologies to create frictionless, responsive, and personalized banking experiences for every customer.

Examples include the major digital and cultural transformation underway at Siam Commercial Bank; how Bank Rakyat Indonesia is pushing for financial inclusion throughout the country; and UnionBank’s sustainable banking initiatives in the Philippines. Readers will also discover how Standard Chartered Bank is creating a future operating model in Hong Kong, how DBS is placing people at the heart of its digital strategy, and how Citi’s digital leadership is earning accolades in the region.

“We want to thank the Efma members who contributed their experience and insight to our Regional Review for the APAC region,” said Vincent Bastid, CEO of Efma. “They paint a bright picture of the region’s innovative banking landscape. It is clear the ongoing developments and transformations at the financial organizations will reverberate throughout the region and the world.

Download the report