Asia Banking Research

Jul

How is Rakuten Bank’s IPO shaping up?

Japan’s Rakuten first announced plans for an initial public offering of its online banking unit in September 2021 amid fierce competition with Amazon and as it faced steep costs from building a mobile network. 10 months later, the Japanese platform company said that it had applied to list its online…

Jul

Asia Banking Research

What went wrong at Volt?

The demise of yet another Australian neobank brings to mind Queen’s hit 1980 song, “Another One Bites the Dust.” With the abrupt collapse of Volt, which said in late June it would cease operations and return AU$100 million in customer deposits after failing to raise AU$200 million, the Australian neobanking…

Jun

Asia Banking Research

Hong Kong faces rising financial crime

Hong Kong is battling a surge in financial crime committed both online and by telephone. The uptick in fraudulent activity coincided with the city’s worst Covid-19 surge, which occurred in the first quarter of this year. At the time, Hongkongers were largely confined to their apartments; the economy was in…

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Asia Banking Research