Nimish Panchmatia says that AI is transforming banking, shifting the focus from transactional efficiency to a more human-centred approach that considers the long-term impacts on people and society.
From January 1, 2025, the bank will operate through four businesses: Hong Kong, the UK; corporate and institutional banking; and international wealth and premier banking. The Apac and Middle East units will also be combined.
Outstanding mortgage rates for individual borrowers will be cut by 0.5%, potentially helping around 50 million households, while the reserve requirement ratio (RRR) for most banks will also be cut by 0.5%.
Lawrence Goh to take on head of group technology and operations with Susan Hwee to become new head of group retail, replacing retiring Eddie Khoo who is joining UOB Vietnam as a senior adviser.
Factors including interest rates, challenging markets, return on investments, resilience and security, intertwine when banks explore generative AI use case and scalable applications.
Golomt Bank’s deputy chief executive officer, Odonbaatar Amarzaya: Golomt Bank is building on the solid foundations of its track record over nearly 30 years, striving every day for good via sustainable development while also creating new digital value.
Generative AI was a hot topic in 2023 and will be again this year. While the tech will help the market, institutions should build talent and assess the risks before scaling up.
As cases spike, the Hong Kong Monetary Authority is stepping up efforts to tackle fraud in an evolving banking landscape such as the use of the Faster Payment System.
Wang, who joins from Citibank, will lead MUFG China’s non-Japanese client coverage teams for its corporate banking portfolio, comprising local and global corporates, Chinese SOEs and financial institutional clients.