April Wu

China Market Strategy

January 6, 2016

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Banking News This Week – Jan 6

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

1 – E-money seen as new area for revenue growth

JAKARTA — From palm oil growers in West Sumatra, vendors in a traditional market in Central Java, to Facebook gamers in Jakarta — Indonesia’s top lender Bank Mandiri is reaching out to different segments in the community to promote its latest electronic money product, Mandiri e-Cash. >>

2 – Philippines banks down to 635 in September

MANILA, Philippines – The number of banks operating in the Philippines declined 2.6 percent in the first nine months of last year with the exit of weak players particularly rural banks. >>

3 – BSP approves 125 new bank branches, offices

The Bangko Sentral ng Pilipinas (BSP) has approved the opening of 125 more bank branches as well as offices across the country. >>

4 – Bank of Africa to begin operations in Cameroon – Sources

The Pan-African banking group, Bank of Africa (BOA) could begin operations in Cameroon in the next few weeks, its application for authorization to open a subsidiary in the largest economy of Central Africa being on the “right track”. >>

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April Wu

China Market Strategy

December 23, 2015

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Banking News This Week – Dec 23

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

1 – Vietnamese banks could be taken over by regional big banks

When the ASEAN Economic Community takes effect, Vietnam will have to allow up to 70 percent of foreign ownership ratio in Vietnamese banks. >>

2 – Vietnam : Commercial banks rush to enter retail services

Banks in the last three years have rushed to provide retail banking services, encouraged by the increased spending of middle-class income earners. Fifty-three percent of the 95 million population are of working age. >>

3 – Mobile payments may make their impact on business

According to Gartner, half of consumers in developed economies such as North America, Western Europe and Japan will use smartphones or wearable technologies to make payments by 2018. >>

4 -China Unionpay partners with banks on mobile payments

China Unionpay, the country’s dominant card-payment processor, launched a mobile payment service called Quickpass with over 20 of the country’s banks. >>

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April Wu

China Market Strategy

December 9, 2015

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Banking News This Week – Dec 9

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

1 – China Bank to open 11 branches in December

Philippines — China Banking Corporation is set to open 11 more branches in major business districts in Metro Manila next month, in a bid to expand its presence and reach more clients. >>

2 – WeChat launches its peer-to-peer mobile wallet in South Africa, no bank account required

Chinese Internet giant Tencent this week rolled out WeChat Wallet, an ewallet that lives within the main WeChat mobile messenger app, in South Africa. >>

3 – South Africa: Banks failing to exploit online, mobile

According to the study the majority of banks (87%) perform less than 10% of sales via digital, and for one in five banks, this figure falls to less than 1% of sales. >>

4 -Banks still some way from leading mobile revolution

As part of efforts to be at the frontline of the mobile revolution, banks are launching new apps to promote the use of mobile banking among customers. However, they still have some way to go, with consumers looking for more and better features. >>

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Ethan Li

Project Manager

December 4, 2015

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Bank 3.0 : What’s the Holdup?

Challenges bank might face to hold back technology innovation

Nowadays people are getting used to use bank service via all kinds of digital channels, such as online websites or apps. Bank 3.0 is an inevitable trend as the evolving of technological advancements. Instead of walking into a physical bank branch, waiting in a long line to open an account or deposit money, consumers use banking services much like they shop online. From bank management’s perspective, moving toward digital services could also help to branch out touch points of reaching more customers but reducing operating costs.

However, what are the constraints to hold back the innovation of bank 3.0? Following are some unspoken challenges:

  1. High IT security requirements: The requirement of accurate financial numbers, near real-time system updating frequency, and high firewall security in banking industry is much higher than other businesses. Bank IT departments tend to be very cautious of any new upgrade within its current operating system. They will ask for formal documentation to thoroughly understand technical details before rolling out to the organization, which will help reduce unexpected “surprise” and ensure compatibility with existing technology after implementation.
  2. Paradigm shift in mindset: Besides technical issues, the mindset of some managers remains traditional. Some are unwilling to embrace the digital banking concept. It’s difficult to transform the whole organization immediately. Evangelizing the old schools gently about the new trend could be the best way to convert people.
  3. Organizational politics: It’s never easy for an enterprise to develop new processes across multiple divisions without a long painful transition. The larger the organization is, the tougher the change would be. Therefore, how to implement the new technology smoothly is truly a leadership challenge internally that solution providers could do little as an outsider.
April Wu

China Market Strategy

November 25, 2015

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Banking News This Week – Nov 25

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

1 – Banking sector must accelerate reform efforts, say experts

In 2015, due to the explosion of information technology as well as the strong growth of electronic services all over the world, banking services on the platform of mobile devices are developing rapidly in Viet Nam. >>

2 – Peppermint Innovation to build m-Pesa for the Philippines, list on ASX

Peppermint Innovation Ltd, an Australian mobile banking technology platform, is in the business of providing vital access to banking services for millions of people not currently linked to traditional banks. >>

3 – Baidu teams with Citic Bank to join China’s online banking wave

Baidu Inc., the Chinese Internet search company, is teaming up with China Citic Bank Corp. to join the wave of online lenders altering a financial industry traditionally dominated by the big state banks. >>

4 – Lot of contacts in your mobile phone may get you loans

They have no bank account, no credit score, no financial identity. So a quarter of humanity hasn’t been able to borrow money. Until now. >>

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