Pandemic induced growth propels Malaysia into next fintech wave

The adoption of digital payments is accelerating the pace of growth and innovation. Changing preferences and continued government efforts are driving cash displacement in Malaysian consumers. According to the Visa Consumer Payment Attitudes 2021 study, seven out of 10 Malaysians have tried to go cashless in 2021. Additionally, the average…

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Banking and financial services organisations ratchet up ICT spending

Bid to become digitally resilient. Over 70% of banking, financial services, and insurance (BFSI) organizations across the Middle East, Turkey, and Africa (META) region plan to invest in scaling up their digital platform experiences over the next 12-18 months. That’s according to the latest research from International Data Corporation (IDC),…

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Security feature reduces fraud for digital cards by 80%

Westpac’s digital security measures for customers. New data released today by Westpac shows customers using a unique digital card feature in its mobile banking app have experienced a significant reduction in card fraud when shopping online. The dynamic Card Verification Code (CVC) feature was introduced in the Westpac app in…

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DBS Bank and GS1 HK announce innovative partnership

SMEs can now access same-day trade financing in a simple and digital manner. DBS Bank (Hong Kong) Limited and GS1 Hong Kong are pleased to announce the launch of an innovative digital post-shipment trade financing solution powered by alternative data. With this offering, small and medium-sized enterprises (SMEs) on GS1…

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Joint exercise to strengthen cross-border cyber crisis

The joint exercise tested the effectiveness of cyber crisis coordination and response. The Monetary Authority of Singapore (MAS), the Banque de France (BdF) and the Autorité de contrôle prudentiel et de résolution (ACPR) yesterday carried out a joint crisis management exercise focused on cybersecurity threats. The exercise follows from the…

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CBA helps fund construction of NSW grid

Grid-forming technology is pivotal in maintaining grid stability. The Commonwealth Bank of Australia (CBA) has supported Edify Energy with project finance for construction of Australia’s largest approved grid-forming battery in Darlington Point, outside of Griffith in regional NSW. The 150 MW/300 MWh energy storage portfolio designed and developed by Edify…

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Siam Commercial Bank modernises banking platform

Millions of its customers nationwide can enjoy exceptional services and products. SCB announced today the adoption of IBM zSystems, bringing the highly secured, high availability and resiliency platform to its core-banking applications to support the agile microservice development of new services and products in response to today’s fast-paced digital consumer…

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NAB banks on ‘hybrid work’ future

National Australia Bank (NAB) has been through a significant transformation. The big four bank has bolstered its executive leadership team and implemented a new business strategy built around the concept of ‘twin peaks’, according to Susan Ferrier, who began working as NAB’s Group Executive of People and Culture in October…

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