Digital Transformation

UOB Finlab’s Jom Transform Accelerator to Focus On Women-Led SMEs This Year

UOB Malaysia and The FinLab announced the launch of the fourth edition of its innovation accelerator Jom Transform Programme (JTP) which will be conducted virtually on The FinLab Online. The FinLab Online is a regional digital platform launched on 17

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SME Lending in APAC Is the Major Opportunity for Banking-as-a-Service

Opportunities are endless with Banking-as-a-Service (BaaS), and nowhere is this more true than in Asia Pacific (APAC). Banks in the region, particularly in hubs like Singapore and Hong Kong, have embraced and become leaders in open banking, automated services, ever-improving

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8 Financial Processes Poised for Digital Transformation

COVID-19 accelerated trends toward remote banking and digitalisation, forcing financial institutions to embrace new technologies and processes to keep their businesses functional despite social distancing restrictions. Now, with more and more people relying on digital solutions for interactions and transactions,

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At the Cusp of a BaaS Revolution, Here Are Some of the Challenges

The future of finance is open, and the rise of Banking-as-a-Service (BaaS) means this future is closer than ever. The BaaS industry is quickly maturing, with 88% of senior APAC executives – in industries from banking and technology to healthcare

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Banks Need to Avoid Risks of a Big Bang Transition When They Digitise

The latest research by the International Data Corporation (IDC) and Thought Machine, a cloud native core banking technology firm, revealed that 40% of banks in the Asia Pacific will make significant changes to their current core banking systems in the

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Why Brands, Bigtechs, Fintechs and Banks Are All Taking Notice of Banking as a Service

The Asia Pacific region is leading the way in a revolution that is changing the way consumers interact with financial services. Banking as a Service (BaaS) has been spreading rapidly over the last couple of years, enabling brands to offer

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Finexus Invests RM10 Million to Build Digital Penang’s Fintech Ecosystem

Finexus, a Malaysian financial services technology vendor, announced that it will invest RM10 million in the next 5 years building a sustainable fintech eco-system in Penang. The company will be collaborating with local fintechs and digital companies in the Creative

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Why Risk-Averse Southeast Asian Banks Should Embrace a ‘Multicore’ Approach

The banking industry is in the midst of a period of intense transformation in Southeast Asia, and indeed the world, driven in part by the pandemic, but also influenced heavily by changing consumer demand and fast-moving technological innovation. Predicting the

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The Bank Branch of the Future: Consumers Prefer Hybrid Experiences

Digital banking has been displacing many branch interactions in the move towards digital. As consumers increasingly engage with their banks remotely and circumstances such as the pandemic as well as new digitally-focused strategies continue to play out, there are ongoing

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FRANK by OCBC Rolls Out Digital Onboarding Powered by CTOS

OCBC’s mobile-first banking solution FRANK has rolled out the digital onboarding feature that was developed jointly with CTOS Data Systems, Malaysia’s credit reporting agency. The e-KYC platform will enable customers to apply for and fully transact with FRANK by OCBC

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