Increased utilisation of financial technology is setting the stage for further digitisation of the Philippine’s consumer banking industry, which is slowly transitioning into a “cash-lite” economy.

Traditional banks in China have begun to utilise cutting-edge technologies by collaborating with technology companies, start-ups or emerging financial institutions. While pushing their way in revolution, the vital point is to strike a balance between the digitisation of services and traditional manual banking services.

Economies of scale, profitability, and developing a comprehensive service proposition remain major challenges in Vietnam’s growing retail banking industry. A long-term sustainable future will depend on how banks execute a right risk-reward balance

Retail banks in Hong Kong are capitalising on fintech to innovate their product palate and to reach out to new customers through dedicated digital channels.

The evolving landscape of South Korean retail banking is pushing banks to invest in financial technology to retain and attract customers, even as traditional brick and mortar branches give way to specialised branches.

Taiwan’s Financial Supervisory Commission (FSC) is driving the country’s banks to move to digital platforms through its “Bank 3.0” vision as banks have an urgent need to differentiate themselves in the crowded retail banking market.

Declining profitability from lending is forcing Japanese banks to rethink product and service strategies whilst innovative technology adoption is helping to maintain high service levels

Credit card issuance and usage wane as digital and mobile payments increase in popularity.

HSBC will continue reshaping its business and conduct cost-saving strategies amidst a weak performance in its European, Latin American, and North American businesses.

Despite current economic challenges, Vietnam’s banking sector has promising longer term potential due to its relatively young and increasingly affluent population.

In the United Arab Emirates, banks have become more competitive in retaining their customers as a result of new regulations, while the rest are developing their individual strengths gained from their own customer experiences. The experiences of National Bank of Abu Dhabi and Abu Dhabi Commercial Bank illustrate how banks have adapted their strategies to new developments in the banking sector.

Formal financial institutions have connected only 22% of the Indonesian population. A huge potential for the financial sector still needs to be explored, and digitised lending, which combines retail banking with financial technology, should be a future solution.

Hong Kong’s economy remains sound but the Hong Kong Monetary Authority is tamping down property loans and issuance of long-term personal loans. With the stricter regulations, the challenge for Hong Kong banks is not asset quality but pricing.

Australian banks are moving towards increased digitalisation, leveraging technological advancements to ensure seamless customer experience in providing better retail banking products and services.