April Wu

China Market Strategy

February 4, 2015

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Banking News This Week – Feb 4

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

1 – Alibaba arm seeks to use police face scans to open bank accounts

Alibaba Group Holding Ltd’s financial arm is seeking regulatory approval to access the Chinese national police’s database so consumers can open online bank accounts with a mug shot.  >>

2 – Most valuable banking brands in South Africa

All but two of South Africans banks have slipped down the rankings of the top 500 banking institutions in the world.  >>

3 – Mobile Money Continues to Prove to be the Way Forward for Banking in Sub-Saharan Africa

For the past few years, the explosive growth of mobile financial services (which includes mobile banking, mobile payments and mobile money transfers) in Kenya and other countries in Sub-Saharan Africa has indicated that the future of banking on the continent will be through mobile phone accounts rather than brick and mortar locations.  >>

4 – StanChart considering sale of Philippines retail unit: source

Standard Chartered is looking to sell its retail business in the Philippines, part of a wider bid by embattled CEO Peter Sands to cut costs and shrink the bank’s asset base, a person with direct knowledge of the matter said.  >>

5 – Research and Markets: Mobility 2014: The Mobile Consumer in South Africa

The survey reveals substantial shifts in the mobile banking environment, with the biggest proportional shift coming in the use of banking apps. From only 1% of all banking customers using banking apps in mid-2012, the figure has shot up to 9% in late 2013. Cellphone banking has also surged, from 28% in mid-2012 to 37% in late 2013.  >>

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