Singapore

And two Canadian banks post better than expected results despite profit declines.

Interest rates of Enterprise Singapore financing schemes averaged 2-3%.

Axis Bank in India has seen a quarter of its loan book stop repayments.

The bank is gearing up its tech and customer-employee experience as neobanks loom.

But 51% of ASEAN banks have yet to fulfill even a quarter of ESG criteria.

And Westpac admits to money laundering breaches.

But most staff will continue to work from home.

It’s the first IPP in Bangladesh financed by international commercial financiers.

In financial services, the rise of digital banks challenges traditional banks to adopt new approaches to remain competitive.

More than half will be apprentices and specialised roles.

The platform generates a credit scorecard in just one second, based on 1.3 million features from opt-in smartphone metadata.

And Morgan Stanley agrees to pay $5m fine.

The bank expects to record 100-130bp in cumulative credit costs.

The internet economy for ASEAN is expected to grow to US$300 billion in 2025 with e-Commerce becoming its biggest sector as published in the Google and Temasek’s 2019 e-Conomy report. Consumers have adopted digital for day-to-day lifestyle and financial needs and we see that in Singapore, over 88% of Singaporeans are online and 57% have either made a purchase or paid a bill through online platforms*, according to We Are Social’s Digital 2020 Singapore report. This trend is set to accelerate especially with 5G technology implementation and consumers having greater access to a variety of digital products and services.

She was Duco's former Business Development Director and Head of Sales for APAC.

The payments provider has been forging new tech-based products and partnerships to keep up.