Asian Banking Finance: Tech-Driven Next-Gen Corporate Banking ー Trends and Implications in APAC and Japan
10 May 2020
Corporate banking is at a critical juncture of accelerated change
External factors are driving disruptions and opportunities in corporate banking. Banks are at risk of falling behind in their response. Players in the corporate banking arena need to assure that they keep pace and take significant strides to compete effectively with financial institutions at the vanguard of technology as well as digital giants and fintech firms. Companies need to cease product-centric approaches and embrace a customer-centric approach, one that reimagines and improves
the customer journey. Banks need to digitize paper-based processes and put top priority on shifting from intuition-driven decision-making to data and analysis-driven decision-making.
The Asia-Pacific region has been generating 43% of global market banking revenue with the Chinese market positioned firmly at the center of many growth strategies. However, future growth will be driven not only by China. The global situation is characterized by uncertainty stemming from factors ranging from negative interest rates, the emergence of trade protectionism to US-China trade friction, Brexit, and now COVID-19. Against this backdrop, the future of corporate banking growth can be expected to be heavily dependent on performance in digital economies where technology plays a prominent role.
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News article details
Corporate Banking, Retail Banking