A report from Kapronasia examines how banks and financial institutions are reacting to growing financial challenges. Problem areas for financial institutions include, third party non-bank financials threatening traditional banks and institutions, trade tensions between the U.S. and China and the U.S. and Canada, interest rates and regulations.
Key findings in the report included:
- Asia Pacific’s financial services industry continues to grow as markets mature and the number of participants increases. Industry growth has led to healthy capital markets performances as well as record profits across the industry.
- Despite the performance, banks and financial institutions face increasing pressures as the markets are undergoing a massive transformation as a result of innovative new market entrants, new technologies, and ongoing market changes.
- Artificial intelligence (AI) however, continues to make an impact on the industry as AI-enabled solutions help manage wealth, interact with customers, and cross-sell products and services.
