Asia Pacific

Standard Chartered loses CIO and CRO as reorganisation bites

Jan Verplancke is stepping down as chief information officer and group head of technology and operations at Standard Chartered, as is Richard Goulding, chief risk officer. The news of their departure comes as the banks announced further restructuring, including the closure of its institutional cash equities, equity research and equity capital markets businesses as part of a strategic plan to ditch “non-core or underperforming businesses”.

China opens up A-shares market as RMB gains traction

A landmark deal between China’s Hong Kong and Shanghai stock exchanges is set to open up unrestricted access to the China A-shares market to foreign investors for the first time, starting this month. The deal also reflects the rising internationalisation of the Chinese renminbi currency worldwide.

Case study: Exporting payments excellence

The Singapore challenge Singapore is an advanced economy that employs a variety of clearing and settlement systems. It needed to transform its payments infrastructure to offer instant interbank transfers. The core technology VocaLink could deliver a practical solution, Immediate Payments (IPS), and also offer practical support during the implementation and beyond. BCS could embed IPS […]

Hollywood Sharia Law controversy rekindles Islamic finance debate

Controversy over Sharia Law reached Hollywood recently as protesters boycotted the glamorous Beverly Hills Hotel over a tough new code introduced by the hotel’s owner, the Sheikh of Brunei. More prosaically, bankers remain divided over how best to respond to demand for Sharia-compliant banking.

Europe surging ahead in RMB internationalisation

Europe now represents 10% of total Renminbi payments in value worldwide and is leading adoption beyond Asian countries, with four European countries in the top 10, excluding China and Hong Kong, according to Swift. Overall, the RMB strengthened its position as the seventh most used global payments currency and accounted for 1.57% of global payments.

The rise of the Asian superbroker

As the global banks grapple with tides of regulation, fines, and a myriad of other post-crisis issues, local Asian institutions are tooling up and stepping in to fill the gaps.

Standard Chartered NY forced to suspend clearing following AML concerns

Standard Chartered Bank’s New York business has been ordered to suspend US dollar clearing services to retail clients of the bank in Hong Kong, following an investigation by the New York State Department which determined its transaction monitoring system does not meet anti-money laundering requirements.

Hong Kong gets set for China Connect

Firms in Hong Kong are ramping up system roll-outs in anticipation of the forthcoming Shanghai-Hong Kong Stock Connect, scheduled to go live in mid-October.
But the proposed link will face a number of problems,

Thai bank turns to real time banking

Young Asian consumers on motorcycles want to be able to start a transaction while riding and finish it at an ATM. For many, that ability is about to become a reality as ASEAN banks switch to real time core banking systems.

Standard Chartered launches Philippine mobile wallet

Standard Chartered has launched a mobile wallet in the Philippines through a partnership with Globe Telecom, in a deal that will tap into demand for mobile money in one of the world’s strongest remittances markets.

China moves cautiously towards options market launch this year

As China prepares to open an options market for the first time later this year, big changes are afoot in Asia’s biggest market. French trading technology specialist Horizon Software talks to Banking Technology about the kind of tools that will be needed to liberalise the Chinese economy.

Standard Chartered Bank and SingTel launch mobile ATM app

Standard Chartered Bank and Singaporean incumbent telecoms operator SingTel have launched a new mobile money service called Dash, in which customers can move money onto their mobile device and then use it to make payments without ever coming into a bank branch.

Collateral tops concerns at Singapore Securities Financing Conference Asia 2014

Sourcing the right collateral to cover global exposures has risen up the list of priorities for financial institutions in Asia in the past 12 months as concerns mount over a possible collateral shortfall, according to a poll conducted by the Singapore Exchange and Clearstream at the Global Securities Financing Conference Asia 2014 in Singapore.

Tisco Bank Thailand opts for FIS core banking tools

Thailand’s Tisco Bank has chosen a new core banking system from US vendor FIS, which it says will help it to provide more real time services to customers. FIS Profile, the core banking solution, is already used by five of the 13 largest banks in Thailand. Florida-based FIS says it will provide the platform as […]

2014 (2nd annual) China Supply Chain Finance Summit

2014 (2nd annual) China Supply Chain Finance Summit

This event is the only one high profile summit talking about supply china finance in China. With the scheme of “Seeking the Balance with Supply Chain Finance”, we will deeply discuss the topics like Supply Chain Finance Market Outlook and Trends for China;Collaboration in Supply Chain Finance;Products Innovation and Risk Control; Collaboration model of the whole supply chain;clearing&settlement etc.

Accenture launches Indonesian innovation centre in Jakarta

A new financial services innovation centre in Indonesia is aiming to capitalise on rising levels of mobile penetration and interest from banks and other financial services providers in new technologies and business opportunities in the country.

Japan’s TSE offers latency management tools to users

The Tokyo Stock Exchange has begun offering latency performance management as a service to users of its Arrownet network, which the exchange says will help market participants gain deeper insights into the quality of their trading and market data communications between the TSE and their own systems.

State Bank of India centralises China reporting

State Bank of India has chosen tools for its new Chinese branch in the northeastern port city of Tianjin from Wolters Kluwer, which it says will help the bank deal with China’s regulatory reporting requirements.

Etrali rolls out mobile voice recording to Japanese market

Etrali Trading Solutions has rolled out its mobile voice recording service in Japan, allowing financial institutions to meet FSA regulations in the country. Etrali’s solution is SIM-based, and is already being used in Europe and the US.

Bangkok Bank invests in mobile banking and payments

Thailand’s Bangkok Bank has installed a new mobile banking and payments platform built by technology company Fiserv, which it says will give customers better security and the bank a stronger presence on mobile devices.

Carriers sink Asia-Middle East-Africa-Europe cable

Hong Kong-based carrier services firm PCCW Global has banded together with 16 other high profile international network operators, including China Unicom, Telecom Egypt, Etisalat and Ooredoo, to construct a high capacity submarine cable system between Asia, Africa and Europe.

Aizawa Securities fuels expansion plans with Fidessa algos

Japan’s Aizawa Securities has chosen vendor Fidessa as its new proprietary and wholesale agency trading system, as the Japanese firm prepares to revamp its algo trading against the backdrop of last year’s Japan Exchange Group merger and the upcoming integration of the derivatives market in two months’ time.

Japanese mobile payments hold promise reports Celent

Japan’s evolving payments industry offers an opportunity for financial institutions and card issuers to capitalise on mobile technology and card schemes, according to a new report by analyst firm Celent.

Bank Alfalah introduces mobile money service in Pakistan

Pakistani Bank Alfalah has teamed up with operator Warid Telecom to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan.

Taiwan Futures Exchange and Eurex to launch joint venture in May

The Taiwan Futures Exchange and Eurex, Deutsche Börse’s international derivatives market, plan to launch a cross-listing link 15 May 2014. With this link, Eurex Exchange will list TAIEX index futures and options as daily expiring futures on Eurex. Derivatives on the TAIEX index are one of the most heavily traded Asian equity index contracts. Andreas […]

London calling to the Chinese renminbi

Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.

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