How Asia is making a new push into e-payments
While the financial regulatory landscape in Asia i...
The Chinese Year of the Rooster highlights the traits of people born under the sign to be quick-witted, ambitious and hardworking. As we usher in the new year, these same traits are proving more vital for any financial institution looking to make a mark in Asia’s exciting digital banking landscape.
Over the last several months The Asset has reached out and has had interesting discussions with both traditional and non-traditional players on how they are keeping pace with new technological ideas. As a result, we are pleased to present the winners of the Triple A Digital Awards 2016.
In the Asian fintech start-up space companies such as Lendr and Fundnel stood out during the review period due to their expertise in developing a sound alternative financing platform to clients, while banks including Citi and DBS grabbed top awards in the period.
Financial technology has gone through a renaissance period in the last few years. From payment applications to cloud systems, various financial stakeholders are constantly aiming to enhance their customer’s digital banking experience.
The effective usage of financial data was a key trend in the fintech start-up space with companies including Alpaca and BeagleData using their volumes of data to advise their clients on a number of investment decisions.
Citi, meanwhile, notches the Triple A Best E-Bank Award in Asia Pacific due to its wide scope of digital activity across the region. During the review period the Citi excelled to refining its mobile offering and had a number of partnerships with new age companies such as Airbnb.
Regional and local banks within Asia also stepped up their digital offerings. DBS for instance was proactive in understanding the needs of its customers and put in place several measures to improve both its backend and frontend systems. E.Sun Bank in the overbanked market of Taiwan developed a number of new products over the review period including its E.Sun Wallet, an application used to provide frictionless payments.
The customers' digital experience got a boost over the past 12 months with several banks tweaking their value proposition. Citi rolled its voice biometrics solution across a number of Asia-Pacific countries aimed at giving customers a hassle free voice identification system. Bank Islam in Malaysia, launched its e-Donation platform along with Visa to make it easier to support charity initiatives.
Banks in addition, completed significant projects over the review period. In China, ABC completed a massive overhaul of its core banking system to help support farmers in rural areas of China. Moreover, in Thailand, Krungthai Bank developed a unique web-based system to assist customers with their traffic infraction payments.
To see the full list of winning institutions of The Asset Triple A Digital Awards 2016 please click here.
To see the full list of Innovative, Procedures and Initiatives Awards please click here.
To see the full list of Digital Infrastructure Awards please click here.
Winners of The Asset Triple A Digital Awards 2016 will be honoured at a gala dinner at the Four Seasons Hotel, Hong Kong on March 15, 2017. For more information please contact us.
27 Jan 2017