Singapore

The app has also partnered with Mastercard for exclusive promos.

Don’t just refer to foreign currency deposits, Singapore's regulator said.

Two wealth banking centres are also reopening.

Close to 85% of the financial industry worked from home during the circuit breaker.

Standard Chartered has appointed Marc van de Walle as its new global head of wealth management effective 6 July, according to a press note.

And Credit Suisse shrugs off oil & gas exposure.

More than 60 customers now comprise the group.

Foreign currency deposits skyrocketed to $19b (S$27b) in April.

Consumer loans were mostly affected, shrinking 0.9% MoM, OCBC said.

The downturn has exposed issues in governance and operating practices.

Majority of its 8,500 staff are working remotely.

62% expect that their mobile payment usage will increase next year.

In the last decade, Asia’s banking sector has not only led the world in global banking profit pools, assets and market capitalism but also in building new business models centred on digital innovations. Whilst the future of Asia banking is bright, most traditional banks, especially the mid and small-tier banks, are poorly equipped to seize the opportunities to keep pace and transform for the digital age. On the other hand, the ongoing health crisis is making customers go online for their banking needs while they #stayhomestaysafe, stretching the capabilities of digital services beyond its limits. While digital banking would have been a convenient option in the past, it has now become a vital lifeline. As customers’ demand for digital access and control to their finances intensifies, it has brought into question the industry readiness towards digital banking.

UOB is expected to suspend its special dividend for the fiscal year.

This leads to lower ownership cost and future-proofs the solution for new operational requirements.

High credit costs can be covered by profits.