April Wu

China Market Strategy

July 24, 2014

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Banking News This Week – Jul 24

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

1 – Banking on Big Data analytics

The use of Big Data analytics in the banking and financial services industry is not a new phenomenon. Using Big Data analytics, banks are also able to keep track of credit histories of customers and can hand out loans accordingly. >>

2 – Malaysia’s CIMB eyes banking business in PH

CIMB Group Holdings Bhd, Malaysia’s second largest lender, is keen on setting up a banking business in the Philippines as part of its growth strategy in Southeast Asia in anticipation of the ASEAN integration in 2015. >>

3 – Banks eye digital, mobile world, to close branches

Banks around the world may close 30 percent of their branches in five years as the growing use of smartphones, tablets and computers reshapes the financial sector’s landscape, Citibank Taiwan chairman Victor Kuan (管國霖) said on Tuesday. >>

4 – Alibaba shakes up China’s banking sector

As Chinese e-commerce giant Alibaba expands beyond online retail, it is shaking up staid state banks — and drawing regulators’ attention — after 100-million customers poured more than $90bn into its investment product.>>

5 – Indonesia considering more curbs on bank stakes held by foreigners

Indonesian lawmakers are considering a bill that will force foreign banks to sell down majority stakes in local lenders, which, if approved, would drive away the foreign capital needed to further develop the country’s financial services sector. >>

Also worth reading:
Will Mobile Banking End Branches?
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia