Banking Research

Mar

Grab teams up with Japan’s largest bank

Singaporean ride-hailing giant Grab is set upon becoming a top digital bank in Asia. Over the past year, the company has raised billions from investors in a bid to fund the transformation from app-based neo-taxi service into neobank. It has inked numerous deals with financial services incumbents and applied for…

Mar

Asia Banking Research

Hong Kong’s digital banks can’t catch a break

Roughly a year ago, Hong Kong looked set to take a leading position in Asia’s nascent digital banking space. In late March 2019, the Hong Kong Monetary Authority (HKMA) awarded three digital banking licenses. It later issued five additional licenses. The eight neobanks, which include consortia led by Chinese tech…

Mar

Asia Banking Research

How will Covid-19 affect virtual banks?

The novel coronavirus outbreak is crimping global business as people avoid travel and even going out in public. The sharp contraction in business activity augurs ill prospects for the financial industry. Banks are not optimistic about their first quarter results. If the virus isn’t contained soon, the second quarter could…

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