IBSi FinTech Journal Supplement: Banking Technology in Asia

Everyone who is anyone in the banking software space wants to do business in Asia, and for a good reason: the region is as buoyant as ever.

The established markets are getting even more sophisticated in their technology consumption (if you are in Singapore, why not try out an NFC-enabled wristband to pay for your commute, travel, shopping and eating out?). Meanwhile, new markets – such as Myanmar – emerge with funding poured into them and the appetite to modernise and adopt international best practices.

Myanmar is a place to be these days – with the World Bank and Japanese government sponsoring a plethora of projects, big and small, including in the financial services space (see our Country Focus article on p12 of the Supplement). Banking software heavyweights such as CR2, Misys and Oracle FSS can be spotted there, (quite successfully) hunting for new clients. When a country starts practically with a blank sheet of paper, all technologies are in demand.

Elsewhere, countries such as Indonesia and Vietnam continue to bring a steady stream of business. In Vietnam, the central bank is leading by example with its enterprise-wide IT overhaul, sponsored by the World Bank and underpinned by Temenos’ T24 core platform.

Indonesia has the world’s largest Muslim population, but its Islamic banking segment com- prises just 5.5 per cent of the country’s overall banking market. No wonder the Islamic banking software providers are looking at the market with hope.

In this Supplement we have brought together all the latest happenings from across the region, from the nascent fintech market of Tajikistan to its high-tech counterpart in Hong Kong and everything in between.

The latest issue of our free Banking Technology in Asia Supplement features:

Market round-up: who is doing what?

  • Standard Chartered launches mobile wallet services in Vietnam
  • Wolters Kluwer releases OneSumX for Taiwanese market
  • JMR Infotech wins Mohanokor MFI core banking software deal
  • Boost for Central Asia’s banking sector with new partnership, exchange to launch soon
  • DIB Pakistan fuels aggressive growth with Flexcube
  • Perbadanan TAIB Bank opts for Euronet’s ITM payment hub
  • Magma Fincorp selects Nucleus Software for lending solution
  • Malaysia’s Maybank and Sage team up to debut ‘free’ digital banking to Asean SMEs
  • Corporation Bank makes progress with core banking system roll-out
  • JCB and Bank Rakyat Indonesia agree card acceptance partnership
  • FIS opens innovation lab in India to boost banking access
  • NPCI planning mobile banking app as USSD system splutters
  • DBS soft launches mobile banking platform in India
  • Interpark heads up consortium aiming to start new online bank
  • Japan not rising when it comes to mobile banking

Country Focus: Myanmar – the undiscovered country

Surrounded by India, China and Thailand, the South East Asian nation of Myanmar is often overlooked in the fast-paced world of finance and technology. But in the last few years, this small nation, formerly known as Burma, has seen new developments in core banking and payments systems.

Case Study: Nippon Wealth Limited – a new sun rises in the east

Nippon Wealth Limited (NWB), a restricted licence bank, based in Hong Kong but with Japanese roots and ambitions, launched a few months ago. As a start-up vying for success it went with Temenos’ T24 to fuel its push to power and glory in Asia.

What is the IBSi FinTech Journal Supplement?

Each issue of our flagship monthly IBSi FinTech Journal includes a Supplement, dedicated to a specific area of banking technology. The Supplements are part of the IBSi FinTech Journal subscription.

IBSi FinTech Journal Supplements cover a wide range of subjects pertinent to the financial technology industry worldwide. They include detailed case studies, analysis, interviews and other feature articles.

Each publication features independently researched and compiled material, with no advertorial or contributed articles. All articles are written by IBS, and we believe that this dedication to quality is unique among publications in the banking/financial services technology space.

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