April Wu

China Market Strategy

February 25, 2015

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Banking News This Week – Feb 25

The top 5 banking news stories in emerging markets this week.

1 – Report Uncovers 2015 Global Digital Banking Trends

The top ten digital trends covered in the Digital Banking Report (in no particular order) include: Increased Use of Customer Analytics, Expedited Deployment of Digital Delivery, Focus on Mobile-First Design. >>

2 – JPMorgan to Cut Costs, Charge for Some Deposits

JPMorgan projected nearly US$5 billion in lower expenses through 2017 with cuts in its corporate and investment banking, and consumer and community banking, segments.  >>

3 – China Rapid Finance Pre-Approves 50 Million Chinese Consumers for First-Time Loans

China Rapid Finance (“CRF”), a leader in Chinese marketplace lending and credit decisioning, today announced that it has extended pre-approved loan offers of 500 RMB (~US$80) to 50 million consumers including pre-screened users on QQ, Tencent’s leading social networking platform, with 820 million users, and customers of China Union Pay, China’s leading payment network. >>

4 – Banking Africa’s Unbanked Population is Not the Solution to Improved Inclusion

Banking Africa’s unbanked population–adults who don’t use formal banks or semi-formal microfinance institutions to save or borrow money–may not be the solution to providing wider access to financial products and services.  >>

5 – African Century to roll out branch network

African Century, which is registered as African Century Leasing, will soon roll out a branch network to enable it to collect deposits from members of the public who want to make savings, it has been established.  >>

Also worth reading:
(Video)Doing Business In Emerging Markets – Banking Sector
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia