Asian Banking & Finance (October - December 2023) by Charlton Media Group

Issue No. 112 DISPLAY TO 31 DECEMBER 2023

Asian Banking & Finance

EXCEPTIONAL BANKS AND FINANCIAL INSTITUTIONS RECOGNISED AT THE 2023 ASIAN BANKING & FINANCE AWARDS

WHY THE BANK OF THE FUTURE IS NOT REALLY A BANK REVISED RULES BOLSTER KOREAN BANKS’ COMPETITION, BUT NO SILVER BULLET TO THRIVING

ADVISORY TAKES CENTRE STAGE IN DANAMON DBS’S SANJOY SEN EXPLORES DIGITAL CURRENCY, FUTURE M&A OPPORTUNITIES

ASIAN BANKING & FINANCE | Q4 2023 1

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EDITORIAL

xceptional banks and financial institutions across the region were recognised at the latest edition of the Asian Banking & Finance Wholesale Banking Awards, Retail Banking Awards, and Corporate and Investment Banking Awards. Turn to page 18 to read more about the latest tech innovations and new services launched by the region’s top banks.

Tim Charlton

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This year also saw the return of the Asian Banking & Finance Summit 2023, giving space for Singaporean bankers to meet face-to-face and discuss the latest pertinent issues shaping the industry. Get a glimpse of our insightful discussions about digital currency and M&A opportunities, featuring insights from DBS Managing Director Sanjoy Sen, on page 17. In this issue, we also interviewed ANEXT Bank’s CEO Toh Su Mei and explored her perspective on why “the bank of the future is not a bank.” Find out how this digital bank plans to meet the demands of modern banking customers on page 12. Meanwhile, Indonesia’s PT Bank Danamon shared how they have transformed their physical branches to suit the modern financial needs of customers, and address the challenges of decreasing customer visits. Their approach is detailed on page 16. Read on and enjoy!

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Can we help? Editorial Enquiries: If you have a story idea or press release, please email our news editor at abf@charltonmedia.com. To send a personal message to the editor, include the word “Tim” in the subject line. Media Partnerships: Please email abf@charltonmedia.com with “partnership” in the subject line. Subscriptions: Please email subscriptions@charltonmedia.com. Asian Banking & Finance is published by Charlton Media Group. All editorial is copyright and may not be reproduced without consent. Contributions are invited but copies of all work should be kept as Asian Banking & Finance can accept no responsibility for loss. We will however take the gains. *If you’re reading the small print you may be missing the big picture   

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Tim Charlton

Asian Banking & Finance is a proud media partner and host of the following events and expos:

CONTENTS

EVENT COVERAGE EXCEPTIONAL BANKS AND FINANCIAL INSTITUTIONS RECOGNISED AT ABF AWARDS 2023

FIRST 06 How financial institutions build customer loyalty 06 New gen picks blogs over family for money tips

SECTOR REPORT 08 PH central bank eyes direct debit, digital banks to drive digital payments ambitions

FINANCIAL INSIGHTS 10 More fines, data touted as solutions to banks’ ‘greenwashing’ epidemic

INTERVIEW 12 Why the bank of the future is not really a bank

Published quarterly by Charlton Media Group Pte Ltd 101 Cecil St. #17-09 Tong Eng Building 3 ASIAN BANKING AND FINANCE | MARCH 2019 Singapore 069533

INTERVIEW WHY THE BANK OF THE FUTURE IS NOT REALLY A BANK

COUNTRY REPORT REVISED RULES BOLSTER KOREAN BANKS’ COMPETITION, BUT NO SILVER BULLET TO THRIVING

COUNTRY REPORT 15 Revised rules bolster Korean banks’ competition, but no silver bullet to thriving

CASE STUDY 16 Danamon rolls out next-generation branches for coffee talks

EVENT COVERAGE 17 DBS’s Sanjoy Sen explores digital currency and future M&A opportunities 18 Exceptional banks and financial institutions recognised at ABF Awards 2023

For the latest banking news from Asia visit the website

www.asianbankingandfinance.net

ASIAN BANKING & FINANCE | Q4 2023 3

News from asianbankingandfinance.net Daily news from Asia

RETAIL BANKING

Singapore banks foster growth, boost employee well-being Banks in the Lion City have continued to grow for the fiscal year 2022, garnering a 3.4% YoY increase based on Asian Banking & Finance’s annual bank rankings. The bank rankings, which reflect the employment hiring situation of select banks in Singapore, had a change in methodology.

WEALTH MANAGEMENT

Maybank’s Alvin Lee on investing in an era of wealth preservation The age of cheap money is over. Likewise, investors’ priorities in where to park their wealth moving forward have also transformed in the past three years – with health and ESG as key considerations. “With macroeconomic and demographic changes, there has been a shift in investor attitudes,” said Maybank’s Alvin Lee.

& FINANCE | Q4 2023 4 ASIAN BANKING AND FINANCE | Q3 2021

DIGITAL BANKING

TG Limcaoco on how 170-year-old BPI is reinventing itself in the digital era The bank has set its sights on an ambitious goal: to be the undisputed leader in digital banking. “If we truly want to be the Philippines’ undisputed banking leader, we must ensure that each and every one of our customers has digital access to our services and products,” said Jose Teodoro “TG” Limcaoco, President and CEO of BPI.

INVESTMENT BANKING

SG banks strong and stable despite uncertain AT1 issuance market SG banks have a stronger resilience compared to their Asian counterparts, so experts say. But just how strong they are and how easily they adapt to global banking crises are occasionally put to the test. The zero write-off of Credit Suisse’s AT1 bonds presented concerns over the impact of AT1 bond losses on global banks.

RETAIL BANKING

How Maybank SG’s YES fuels tech growth of new SMEs New business owners face a plethora of hurdles before they can kickstart their business. These include garnering the necessary engagement or publicity for their products, raising capital, and even the lack of access to the appropriate business managing tools: accounting, digital marketing, and payroll.

RETAIL BANKING

Bankers face sluggish hiring market, layoffs in Hong Kong Bankers seeking a job in HK should brace themselves for obstacles as banking on human resource investments has seen a slowdown. Hiring experts revealed to Asian Banking & Finance that there is an informal hiring freeze and some layoffs as banks focus on maximising productivity rather than hiring new employees.

ASIAN BANKING & FINANCE | Q4 2023 5

FIRST the financial services industry, to design their customer engagement strategies, is that there is real pressure to deliver measurable engagement across the board,” Ellis noted. Travel, in particular, seems to have a strong correlation with encouraging customer loyalty. A survey by Collinson of 4,750 consumers in Asia Pacific found that 60% of the respondents who take 10 or more trips a year are members of twice as many loyalty programmes than those that took one or fewer trips per year.

MILLENNIALS PICK BLOGS OVER FAMILY FOR MONEY TIPS WEALTH MANAGEMENT

oung and wealthy Singaporean and Hong Kong investors place more trust in internet posts than in their own family members when seeking financial advice, according to a survey conducted by St. James’s Place Asia. When asked about their preferred sources of financial wisdom, family members only came in third, suggesting that their approach to financial decisions is “not too personal.” Financial advice websites or blogs surpassed parental advice, with 47% of the 2,000 respondents indicating a preference for online sources. The top choice for seeking financial guidance is an independent financial adviser, with 56% of respondents from both markets selecting this option. Over nine in 10, or 91% of the 1,000 respondents from Singapore, and 96% of the 1,000 respondents from Hong Kong, found financial assistance and advisory services to be highly valuable. Bank managers and staff were the fourth most frequently chosen source, cited by one in three (34%) respondents. Friends rounded out the list, with a proportion nearly equal to that of bank staff. The study also delved into the obstacles when seeking financial advice, emphasizing the role of personal connections. Young over old Notably, the study found that the percentage of the “new generation” — aged 27 to 39 with minimum annual household incomes ranging from US$51,080 (HK$400,000) to over US$191,551 (HK$1.5m), or US$51,112 (SG$70,000) and above — seeking financial advice is higher than the share of elders, or those between 50 to 69 years old. Results show that those with higher wealth levels credit their success to financial advice based on personal experience.

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2023 Asian Banking & Finance Forum, first panel session

How financial institutions build customer loyalty BANKING TECHNOLOGY

xpectations from customer loyalty rewards are seeing a massive shift today: customers are no longer satisfied with just receiving cashbacks or coupons, they want an emotional experience. “We are seeing a real change in what the younger generations expect from brands today. It is moving away from the tangible rewards, which is what we previously associate loyalty with, to more emotional, experiential benefits (for instance, travel experiences),” James Ellis, Vice President, Business Development, Asia Pacific, Collinson, told attendees of the Asian Banking & Finance Manila Forum held at Shangri-La The Fort. “This is also aligned to their social media use where they share their life moments and or experiences through channels such as TikTok and Instagram,” Ellis said. Ellis joined a panel of top industry analysts and Philippine bankers to talk about how financial institutions can deliver the best customer experience today. The consensus: a swift, measurable engagement across all services. “An important trend that we’ve identified through working with companies, particularly within

Do you as a financial institution, understand across products, what the different engagements your customers are having?

Challenges Beyond travel, customers still expect to access loyalty-related perks across all services on offer, said Anurag Mishra, Partner, Partner, Financial Services, Technology Consulting, EY. Mishra noted the challenges of building loyalty in the digital era, especially as FIs will have to balance maintaining their standards with customers’ expectations for a swift. Service. “A financial institution typically works with credit scoring methods. You have to score your customers on the fly in a minute. That’s a challenge. That’s a journey for a lot of incumbent institutions to take. And that’s not going to be an easy journey to take.” Just the ability to offer an experience is a challenge. “The big question to ask is, do you as a financial institution, understand across products, what are the different engagements your customers are having? And are you able to hashtag it into one significant experience?” Mishra noted, adding that banks face risks in screening and choosing which people can access their services. China Banking Corporation’s Executive Vice President & Head of Consumer Banking Segment, Aloiysus C. Alday Jr., also noted the rising expenses associated with building loyalty. “It is difficult to stand out. There is s so much clutter embedded, [and] it used to be so much cheaper. Now it’s becoming more expensive.” Alday added, however, that digitalisation, had made it much easier to deepen relationships with existing customers. To read the full story, go to https:// asianbankingandfinance.net/

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ASIAN BANKING & FINANCE | Q4 2023 7

SECTOR REPORT: CARDS & PAYMENTS

PH central bank eyes direct debit, digital banks to drive digital payments ambitions This follows Bangko Sentral ng Pilipinas’ earlier roll-out of QR payments and surge in e-wallet use.

BSP Deputy Governor Mamerto Tangonan during the Asian Banking & Finance Forum

he Philippines is seeking to ride the momentum of its recent digital payments surge and further widen the adoption of digital payment services, floating plans to roll-out request-to-pay services and a direct debit facility. The country is currently on track to meet its goal of converting 50% of retail payments into digital form by 2023, says Deputy Governor Mamerto Tangonan, of the Bangko Sentral ng Pilipinas (BSP). This, he said, was thanks to the “explosive” adoption of e-wallets and QR code payments. As of 2022, the share of retail payments value attributed to digital transactions surged to 42.1%, climbing from just 31.3% in 2021. With the goal basically in the bag, Tangonan–who heads BSP’s Payments and Currency Management Sector (PCMS)shared that the BSP is now looking to further revolutionise local banking and financial services through two fronts: cash agents and digital banking. “Digital banks are widening the reach of financial services throughout the country. There are six digital banks in the country. As of 2023, there are more than 5 8 ASIAN BANKING & FINANCE | Q4 2023

There was a profound shift in consumer behaviour towards digital payments, and it’s been a strong driving force

million deposits in digital banks,” Tangonan noted, speaking to attendees of the Asian Banking & Finance Forum’s Manila leg, held at Shangri-La The Fort. BSP is also further pushing for more digital and offline payments across the country. “Undeniably, there are still parts in our country that are not reached by digital payments. And yet those people also need payment services, hopefully that should be digitised,” Tangonan said. “To further advance digitalisation and fully leverage the potential benefits, the BSP–in close collaboration with the industry--is actively developing new digital payments.” Amongst pilots include requestto-pay, where a store or merchant is able to send reminders or requests for payment. The payer, then, will only need to authorise the transaction for the payment to be made. BSP is also working on a direct debit facility that will enable customers to efficiently manage recurring payments such as rentals during the monetisation, insurance premium, and credit card payments. This can be achieved by granting dealers the authorization to automatically deduct funds from the

for years to come, Tangonan noted. According to the latest BSP financial institution survey, a significant number of account holders use their accounts for payment-related transactions, higher than those who use it for savings. “There was a profound shift in consumer behavior towards digital payments, and it’s been a strong driving force,” Tangonan said, adding that the number one financial services that most people accept nowadays are payments. “This was the reversal from the observation in 2018, with a higher number of account holders using their accounts for savings, about 76%, than for payments,” he added. Setting up the rules As for BSP, Tangonan noted its role in promoting digital payments by setting up the rules of the game and ensuring open competition between players. The roll-out of two new digital payment rails– PesoNet and InstaPay– also helped drive digital payment adoption. Over 600,000 merchants have adopted and are offering the BSP’s QR code payments, QR Ph, from just 30,000 when it was first launched. E-Money Domination Tangonan also highlighted the significant growth of e-money accounts or digital wallets in the Philippines. E-money accounts have outnumbered traditional bank accounts since 2021, at about 27.5 million users two years ago. This number is expected to have grown by 2023. “This signifies a significant step in financial inclusion, with the percentage of Filipinos holding e-money accounts increasing from 8% in 2019 to 36% in 2021,” he noted, saying that e-money accounts are now the most widespread financial choice.

CMY

ASIAN BANKING & FINANCE | Q4 2023 9

FINANCIAL INSIGHTS: SUSTAINABLE FINANCE

More fines, data touted as solutions to banks’ ‘greenwashing’ epidemic

Reputational risks abound for those who drag their feet about sustainability or engage in greenwashing. ASIA PACIFIC

ow much of the sustainability initiatives reported by banks are true, and how much are conflated? The reality is it is hard to measure how prevalent greenwashing has become or even just the level of how green a bank has become, experts told Asian Banking & Finance. “I don’t think anybody really does a reliable analysis of how prevalent greenwashing is. It’s detected anecdotally by incidents,” Eugene Goyne, EY Asia-Pacific Financial Services Regulatory lead, said. “What I would say is, there’s a massive increase in the volume of sustainability disclosures coming from different perspectives.” With the increasing amount of sustainability-linked financial products and disclosures coming out, it is expected that there will be a level of mistakenly inaccurate or misleading statements, and even an element of deliberate misrepresentation or fraud. “Sustainable finance is no different in that respect to other forms of financial disclosures or product disclosures,” Goyne noted. “There’ll be a level of mistake and there’ll be a level of fraud. You see that in listed company disclosures and

[Nobody] does a reliable analysis of how prevalent greenwashing is

Eugene Goyne

The lack of quality ESG data hinders accurate measurement of sustainability efforts

10 ASIAN BANKING & FINANCE | Q4 2023

bank disclosures and asset manager disclosures. But sustainable finance isn’t any more vulnerable to that.” Goyne recognised, however, that reputational risks abound for those who drag their feet about sustainability or engage in greenwashing practices. “Trust and disclosures to the financial system are absolutely critical for the system to help society transition to a more sustainable future. Greenwashing will undermine that trust when it occurs, if it’s prominent enough, or widespread enough,” Goyne said. More promises, less action Where exact data on greenwashing could not be found, companies’ performances can be studied. A research by the Hong Kong Monetary Authority in 2022, for example, found that about one-third of corporate green bond issuers were found to have poorer environmental performance after their initial green bond issuance. Whilst this might not directly reflect the status of greenwashing in 2023, this indicates a level of greenwashing prevalence in the market, especially when there are not yet any fines introduced by the regulators in APAC, said Alan

Au, APAC ESG lead at Capco. There is no similar study conducted for banks, but there were studies that bank investments to sustainability have stagnated in one of the major markets of interest when thinking about greenification: energy. A study by Sierra Club, Fair Finance International, BankTrack, and Rainforest Action Network found that just 7% of the total financing value extended by banks to companies for energy projects were funnelled to renewable energy. “We did see that over [20162022], there is an increase in the value of financing that’s going to renewable energy. But at the same time, there’s also an increase in the value of financing that’s going to companies engaged in fossil fuels,” Ward Warmerdam, senior financial researcher for Profundo, told Asian Banking & Finance. The lack of structure A major challenge in accurately measuring and reporting sustainability efforts of financial institutions (FIs) is the lack of highquality and reliable ESG data to enable clear net-zero commitments and adequate implementation plans to align with the local decarbonisation aims, Au said. The lack of regulatory enforcement on established ESG guidelines is another challenge. There seems to be no consensus amongst regional and global regulators on how sustainability should be reported or measured. “Let’s take the example of the EU regulation, what’s called the SFDR, or the sustainable finance disclosure regulation. It requires fund managers to label funds as to what type of ESG goals they have. The labels are regarded by the industry as very confusing, and I’m not sure many consumers would understand.,” Goyne said. To read the full story, go to https:// asianbankingandfinance.net/

ASIAN BANKING & FINANCE | Q4 2023 11

CEO INTERVIEW

Why the bank of the future is not really a bank ANEXT Bank’s Toh Su Mei reveals how they reimagine banking for micro businesses.

SINGAPORE

ne year after kicking off operations as a fullfledged digital bank, ANEXT Bank CEO, Toh Su Mei shared one of her key takeaways on Singaporeans’ modern banking needs, “Nobody needs another bank in this day and age!” Pushing this premise, she added, “Which is why we were very clear from the onset on why we do what we do and how [we do it].” In the past year, ANEXT Bank has been embarking on discovering the best way to service Singapore’s underserved small and medium enterprises (SMEs). Business loans were offered for as low as US$3,700 (SG$5,000) and up to US$22,200 (SG$30,000) to meet the liquidity needs of SMEs. ANEXT is also the first bank in Singapore to offer remote virtual onboarding for business owners who are based overseas but have registered businesses in Singapore, reducing the need to travel into the city to set up shop. Toh cited their target market, the SMEs, as an inspiration and called them a reflection of what the bank strives to serve. “We serve businesses from industries and individuals that are typically not digital-first. Our youngest customer is 19 years old, whilst our oldest is 86,” Toh said, noting that this diversity in ages shows the impact of what customer-driven and tech-led financial services can make. This is also why ANEXT Bank remains optimistic about its ability to enable financial inclusion for the long term. Dwelling on this enthusiasm, Asian Banking & Finance got its CEO to open up about more interesting insights on the future of banking. How have things been on ANEXT Bank, one year on? What have you achieved over the past year? At ANEXT Bank, we have a big, hairy audacious goal to reimagine financial services for financial inclusion — we believe in establishing the essentials that stay true to our mission, and to do them well. We’re encouraged by the trust that SMEs have placed in us this past year. About 65% of SMEs who have chosen us to be part of their journey are micro businesses, whilst 33% have businesses incorporated for less than two years; [and] 30% of our customers are foreign business owners who have incorporated a business in Singapore. Our customers are also showing a 20% monthon-month increase in cross border transactions. Over six in 10 of your customers are micro businesses. Why do you think you became the bank of choice for micro businesses? Regardless of business setup, size, and vintage, there are common areas or challenges they all face when it comes to financing and banking, which is the gap we aim to fill for them — whether it’s banking directly with us or through embedded financing from our partners. We are committed to building an open ecosystem and working with financial institutions and industry partners to drive industrial transformation and even more value for these partners. The ANEXT Programme for Industry Specialists (APIs) is an example of our open approach, to improve and scale embedded finance for SMEs by making it

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ANEXT Bank CEO, Toh Su Mei

Our customers also showing a 20% month-onmonth increase in cross border transactions

SCAN FOR FULL STORY

easier for businesses to access financing through our industry collaborations. Through our initial two partners, we can serve close to 15,000 SMEs collectively, supporting them with easier and more seamless access to their financing needs. Any notable trends you observed in SG’s banking sector? The banking and finance industry, like many other industries, has seen an accelerated shift towards digitalisation, including the issuance of digital banking licenses as another indication towards championing digital-first behaviours. Small businesses account for more than 85% of cross-border e-commerce in the Asia Pacific region and digital trade is expected to further accelerate in tandem with higher consumer adoption of digital lifestyles. It’s no surprise that Singapore has a highly banked population, but studies have shown that SMEs are still underserved by the country’s banking sector. According to Deloitte, 72% of SMEs require funds to better manage their working capital and mitigate cash flow problems. At the same time, local governments and industry players are building ecosystems and digital infrastructure to support SMEs’ digitalisation. We are not here to compete with incumbents, but to provide SMEs with an additional choice to cater to different needs.

ASIAN BANKING & FINANCE | Q4 2023 13

GREEN DEAL OF THE YEAR - HONG KONG SYNDICATED LOAN OF THE YEAR - HONG KONG

OCBC’s commitment to building a low-carbon future OCBC is a bank with sustainability at its core, dedicated to “For now, and beyond”.

and teams in Hong Kong and China serving clients in Greater China.

OCBC Launched Singapore’s first large-scale ecological mangrove restoration project - OCBC Mangrove Park in Singapore on 29 October 2022, Ms Helen Wong (in the middle), Group Chief Executive Officer of OCBC, officiated at the opening

CBC’s tagline, “For now, and beyond”, perfectly encapsulates the bank’s commitment towards enduring sustainability. OCBC believes that comprehensive climate action today is the best way to drive the transition to a lowcarbon future. OCBC, an early mover in sustainable finance OCBC’s sustainable finance journey began early, having offered sustainable finance solutions and advisory since 2018. In 2019, it became the first Southeast Asian bank to stop financing new coal-fired power plants. In Hong Kong, it was an early partner in sustainable finance for many corporates, structuring the first green loans for multiple major real estate players as well as the first HKD sustainability-linked loan for Asia’s largest REIT. The bank’s ESG commitment is firmly integrated with its financing activities, and it is now well on track to cross the S$50b mark in committed sustainable finance to meet its target of S$50b by 2025. In May, OCBC unveiled its decarbonisation targets for Net Zero by 2050. Partnering with clients towards Net Zero OCBC has set ambitious, quantitative, and science-based Net Zero targets and pathways for emissions arising from its portfolio. Set across six of the Bank’s most emission-intensive sectors (Power, Oil and Gas, Real Estate, Steel, Aviation, and Shipping) and covering 42% of its corporate and commercial banking loan portfolio, these targets and pathways represent OCBC’s roadmap to Net Zero by 2050, with an interim checkpoint in 2030. In line with OCBC’s goals, it has pioneered

14 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

innovative products to partner with corporate clients in their decarbonisation journeys. In March, the bank launched the OCBC 1.5°C Loan, a sustainability-linked loan where interest margins are tied to clear carbon emissions reduction targets aligned with internationally recognised, science-based net-zero sectoral decarbonisation pathways. In July, it partnered with a major Singaporean REIT on Singapore’s first green financing solution that comprises a green loan and carbon credit, resulting in carbon neutrality for the financed asset. Mike Ng, Chief Sustainability Officer at OCBC, believes financial institutions like

We are committed to directing capital to projects that bring about meaningful change and driving the transition to a lowcarbon economy OCBC have a vital role to play in enabling the world to meet its sustainability goals. “As it stands, there aren’t sufficient resources dedicated towards meeting the monumental challenge of climate change. As a leading bank for sustainable finance across ASEAN and Greater China, we have been proactively engaging our clients to develop and invest in greener assets and helping them achieve their sustainability aspirations by offering bespoke sustainable financing solutions. We are committed to directing capital to projects that bring about meaningful change and driving the transition to a low-carbon economy,” said Ng. To meet this goal, OCBC has dedicated sustainable finance teams across the region, with a core team in Singapore serving ASEAN

Recognition for OCBC’s track record in sustainable finance Building on its previous achievements, OCBC has been recognised at the Asian Banking and Finance (ABF) Corporate and Investment Banking Awards 2023 for Green Deal of the Year – Hong Kong and Syndicated Loan of the Year – Hong Kong. The transactions behind these awards are not only impressive in their own right, but they also demonstrate the Bank’s ability to go above and beyond to deliver impactful, sustainable finance structuring. Amongst the reasons OCBC won these awards, ABF cited the bank’s creation of “Hong Kong’s first sustainable finance in the logistics industry, which directly contributes to Hong Kong’s Climate Action Plan 2050” and the visionary structuring that “enabled a major REIT to become 100% sustainably financed, a rare achievement in the property sector.” Sustainability at its core As part of its 90th anniversary commemoration in 2022, OCBC proudly supported two significant mangrove conservation projects: the OCBC Mangrove Park in Singapore and the Tebuk Mendeleng mangrove project in Malaysia. Through these projects, 18,000 mangrove trees will be grown, and they will sequester an estimated 30,000 tonnes of carbon dioxide over their lifetimes. OCBC Hong Kong also partnered with the Ocean Park Conservation Foundation Hong Kong on a Juvenile Horseshoe Crab Rearing programme. Over the course of the programme, our staff volunteers learnt to care for baby Chinese horseshoe crabs, an endangered species, for 90 days before they were released back to their natural habitat.

Mike Ng, Chief Sustainability Officer at OCBC

COUNTRY REPORT: SOUTH KOREA

Revised rules bolster Korean banks’ competition, but no silver bullet to thriving Authorities are making it easier for banks to own and buy companies overseas.

outh Korea’s recent moves to ease ownership of financial institutions will drive competitiveness amongst regional banks, but don’t expect a big shake up in the market share, analysts told Asian Banking & Finance. In July, the country’s Financial Services Commission (FSC) floated plans to ease rules in foreign ownership and even ownership of non-finance entities. Examples listed by the FSC include a local insurance company being allowed to own a foreign bank operating in an overseas market; or a credit finance business being able to acquire a rental car business in an overseas market. The FSC has also proposed easing rules on the maximum level of credit that a local financial company can extend to its foreign subsidiary for a certain period of time. Notably, domestic regional banks may now apply to expand into nationwide commercial banks, provided they meet requirements such as having sufficient financial resources. Boosting competition The proposed revisions, when passed, will also pave the way for mergers between savings banks, which will bolster their competitiveness, according to Gary Ng, senior economist at Natixis Corporate & Investment Banking. “Allowing regional banks to operate nationally should boost competition, product offerings, and innovation for SMEs and consumers,” Ng told Asian Banking & Finance. This enhanced flexibility, though, is unlikely to cause a major shakeup in the Korean banking industry. What it does is create the opportunity for regional banks to expand their operations. “Regional banks’ assets only grew 5.8% annually between 2017–2022, whilst the nationwide commercial banks enjoyed a faster growth rate of 7.8%,” Ng pointed out. “If

Allowing regional banks to operate nationally should boost competition, product offerings, and innovation for SMEs and consumers

Gary Ng

regional banks can now attract deposits with higher interest rates nationally, they can expand their operations more easily.” If the goal were to stimulate competition and cut the dominance of big players, experts are skeptical that easing the rules would change the status quo. Jinho Ryu, EY partner and Korea Banking & Capital Markets leader, said that the five nationwide banks will still remain dominant even after the FSC will have introduced the changes. “It would take time for new nationwide players to have enough impact to boost competition amongst major firms,” Ryu said, noting that five local banks make up 73% of the market share in the country. In the short term, new players who enter the market are expected to concentrate on markets that existing commercial banks do not put a lot of effort into, such as mid-low credit borrowers, precisely to avoid competition. Ng echoed

this sentiment. “More flexible arrangements do not necessarily mean the current regional banks can replace the large players easily, especially as they only comprise 11% of total banks’ assets. It shows the constraints that it is hard for them to attract large clients,” he said. The regional banks and digital banks — which make up 3.5% of total assets in South Korea — are likely to remain focused on servicing small-and-medium enterprises and households in the near future. “In addition, having a more physical presence is great, but technology is a game changer nowadays, and capital can be very mobile with competition also from virtual banks. As such, it is likely to see a large share of regional banks in the short run, but how far it will increase will depend on whether they can ultimately offer the most cost-effective or tailored solutions for their clients,” Ng said. To read the full story, go to https:// asianbankingandfinance.net/

It would take time for new nationwide players to have enough impact to boost competition amongst major firms (Photo by Daniel Bernard from Unsplash)

ASIAN BANKING & FINANCE | Q4 2023 15

CASE STUDY: DANAMON

Danamon rolls out next-generation branches for coffee talks The Indonesia-based bank seeks to open 50 advisory-centred bank branches.

reflects Medan’s business culture: open to new ideas and resilient. Danamon’s lounges can also be used by customers as a place for hosting various events. “For example, not long ago there was an event about taxes where one of our experts also spoke on that theme,” Dinata said. “There were events about food and beverages, about health, and other themes,” he added. Even though these themes are unrelated to finance, it is a purposeful gesture that meets the desires of Indonesian customers who relish learning and social gatherings. The design incorporated lounges in various corners, adorned with furniture that emanates a homely and cosy ambience (Photo courtesy of Danamon)

INDONESIA

T Bank Danamon Indonesia has launched its nextgeneration bank branch concepts, highlighting spaces for conversations between bank agents and customers, as it faces a decline in customer visits. The concept, first launched in late 2022, stems from a study conducted by the bank, which found that the role of the bank branch has evolved from simply serving basic retail banking functions. Nowadays, customers hope to find a cozy gathering place to discuss their financial goals. Danamon Chief Digital Officer Andreas Kurniawan, who was involved in the design stage, emphasised the ongoing importance of the physical presence of branches, noting that it instils a sense of trust in customers. “So many non-banking issues, for example regarding children’s education, what brand of car to buy, regarding their business, are discussed at the branch. So, when we see a pattern like that, we create a branch that is comfortable for long conversations, with soundproofed meeting rooms and lounges,” said Kurniawan in an interview with Asian Banking & Finance. 16 ASIAN BANKING & FINANCE | Q4 2023

Customers have the opportunity to promote their products within our branches

Eka Dinata

Andreas Kurniawan

Then, routine transactions such as deposits, withdrawals, intrabank transfers, and complaints, on the other hand, have been moved to Danamon’s digital channels, such as our D-Bank PRO app. The nextgeneration branch concept reflects the bank’s vision: to care and help millions achieve prosperity. Full engagement Eka Dinata, Branch Network Head at Danamon, also shared insights into how Danamon carefully cultivated the atmosphere of their branches. The design incorporated lounges in various corners, adorned with furniture that emanates a homely and cosy ambience reminiscent of being at one’s own residence. “For example, the Putri Hijau branch office, Medan, has been designed to be a cosy gathering place for Danamon customers. Inside there is a hospitality point equipped with local Mandailing coffee, a coworking lounge that can be used for both work and transactions, event space to hold activities to various types of meeting rooms equipped with supporting facilities that make customers feel like… it’s their second home,” said Dinata. This design

Promoting products Equally captivating is Danamon’s inclusion of a showcase area within their branches, dedicated to displaying both partner and customer products. Dinata elaborated on this aspect, noting, “Customers have the opportunity to promote their products within our branches.” Highlighting the use of community lounges by the very customers or local entrepreneurs for education, seminars or sharing sessions, Kurniawan recalled, “Customers openly offered piano lessons by placing their keyboards in the showcase area and giving special discounts for other customers.” After all, the branch exists in a community. “So, for people who are not yet customers, we consider them as part of us,” Kurniawan affirmed. At present, Danamon has launched next-generation branches in Indonesia, located in Medan Putri Hijau, Pondok Indah Mall Jakarta, Kelapa Gading Jakarta, Muara Karang Jakarta, and Danau Sunter Jakarta. “We will see by the end of this year; we aim to have a total of 50 next-generation branches.” Kurniawan said. To read the full story, go to https:// asianbankingandfinance.net/

EVENT COVERAGE: ABF SUMMIT

DBS’s Sanjoy Sen explores digital currency and future M&A opportunities Sen also discussed DBS’s recent integration of Citi Taiwan’s assets in just one weekend.

customers became DBS customers, all 3.5 million card holders will get new plastics,” Sen said. Typically, the sold bank’s accounts are transferred to the buyer. However, it would take a year or two for the technology transformation to be completed. For instance, an account from a business line that has been sold would move to the buyer, but it would still be managed by Citibank under a transaction services agreement. “In our case, we don’t believe in that. We did all in one shot, everything moved over one weekend,” Sen reiterated.

Asian Banking & Finance’s editor-in-chief, Tim Charlton with DBS Managing Director, Sanjoy Sen

SINGAPORE

he Development Bank of Singapore (DBS) is open for both the impending entrance of digital currencies and other further mergers and acquisitions (M&A) – opportunities that come streaming following its Citi Taiwan integration. In a speaking session moderated by Asian Banking & Finance’s editor-in-chief, Tim Charlton, DBS Managing Director, Sanjoy Sen affirmed that as Singapore’s largest bank by assets, DBS is prepared for the various digital transformations taking place in the industry. “We have spent years and years, and billions of dollars re-architecting our core banking,” Sen, who is also the group head of consumer banking at DBS, said at the Asian Banking & Finance Summit 2023 held at Sofitel Singapore City Centre last 8 September. Sen stressed the inherent nature of DBS as a technology-enabled bank, and its awareness of the necessity to craft a digital product from a customer’s perspective. “How do we have the best customer journey? How do we have the best app? How do we ensure that customers can open an account in five clicks?” Sen asked during the event

For one weekend we moved the entire Citibank database — so by Monday morning, all the branches have rebranded

attended by industry stakeholders. “That thing is what we have spent a lot of time and investment in, to make us like any other state-of-the-art fintech company,” he pointed out. Citi Taiwan integration Sen shared how DBS was able to integrate Citi Taiwan’s consumer assets into DBS in just one weekend. The move propelled DBS to become Taiwan’s biggest foreign bank by assets, with a nearly 40% share in the local credit cards market, and 3 million active credit cards. Before the integration, DBS only had 700,000 cards in Taiwan. Sen noted that it was a huge piece of work moving it all in just one weekend, but the payoff was worth it: Citi Taiwan customers only had to wait one weekend to become DBS customers. “We spent one year creating the requisite technology stack to be able to port the entire Citibank consumer database, so that it could all happen in one step. For one weekend we moved the entire Citibank database — so Saturday evening we shut down the entire Citibank. By Monday morning, all the branches have rebranded. All Citibank

Acquisition strategy Asked what DBS may be setting its sights on, in terms of future acquisitions, Sen hinted that the next opportunity may come from the financial technology sector. “Many of these players are looking to get acquired,” he said. Many fintech players came from a world where they were amassing investments to grow; but now, that game is over, Sen asserted. These companies came from a time when they can rely on investors giving them money for growth even without a clear path to profitability. It could even be a digital bank — in Hong Kong, that is. “Six years back, Hong Kong gave licenses to nine digital banks and today, more than half of them are up for sale,” Sen revealed. Even before the Citi Taiwan acquisition and integration, DBS had already made M&A moves across the region: first, buying a bank in India with 550 branches; then a minority stake in a bank in China. DBS is looking for three key qualities in any future company they may seek to acquire. “I would say there are three things. One is that there has to be synergy. When you add two plus two, it has to become five. [Also], how we drive a common culture of inclusiveness?” Sen said, as if challenging the summit audience. To read the full event coverage, go to https://asianbankingandfinance.net/ ASIAN BANKING & FINANCE | Q4 2023 17

EVENT: ASIAN BANKING & FINANCE AWARDS

Exceptional banks and financial institutions recognised at ABF Awards 2023

he banking and finance industry today is undergoing a significant transformation driven by technology and evolving customer expectations. The industry is witnessing increased collaboration between banks and fintech startups, fostering innovation and expanding access to financial services. As a result, the banking and finance industry is becoming more inclusive, efficient, and responsive to the changing needs of individuals and businesses. To honour banks and financial institutions for their outstanding performance, innovation, and excellence, Asian Banking & Finance has named the winners for the 2023 edition of the Wholesale Banking Awards, Retail Banking Awards, and Corporate and Investment Banking Awards. Winners of the awards programmes, all organised by the Asian Banking &

Finance Magazine, were honoured at an Awards Dinner held on 25 July 2023, at Marina Bay Sands in Singapore. This year’s entries were evaluated by an esteemed panel of industry experts consisting of: • Nam Soon Liew, Regional Managing Partner, ASEAN, Ernst & Young • Ho Kok Yong, Audit Partner, Chief Strategy & Operations Officer, Audit & Assurance, Deloitte • John Dovaston, Financial Services Leader South East Asia Consulting and Co-Leader Consulting Indonesia, PwC • Antony Ruddenklau, Partner, Head of Financial Services Advisory, Global Co-Leader, Fintech, KPMG Singapore • Edy Widjaja, Partner & Leader, South East Asia Financial Services Practice, Bain & Co. Congratulations to this year’s awardees!

WHOLESALE BANKING AWARDS

CB Bank PCL Myanmar Domestic Trade Finance Bank of the Year Myanmar Domestic Cash Management Bank of the Year

Abu Dhabi Commercial Bank UAE Domestic SME Partnership Initiative of the Year UAE Domestic Customer Service Initiative of the Year Arab African International Bank Egypt Domestic Trade Finance Bank of the Year Bangkok Bank Public Company Limited Thailand Domestic Trade Finance Bank of the Year Bank for Investment and Development of Vietnam JSC (BIDV) Vietnam Domestic Derivatives Initiative of the Year Vietnam Domestic FDI Bank of the Year Bank Muscat SAOG Oman Domestic Project Finance Bank of the Year Bank of Ayudhya Plc. (Krungsri) Thailand Domestic Technology & Operations Bank of the Year

CIMB Bank Malaysia Domestic Sustainability Initiative of the Year CIMB Singapore Singapore International SME Partnership Initiative Bank of the Year Singapore International Cash Management Bank of the Year Citi Hong Kong International Project Finance Bank of the Year Commercial Bank of Ceylon PLC Sri Lanka Domestic Trade Finance Bank of the Year Commercial Bank of Ceylon PLC Bangladesh International Trade Finance Bank of the Year Commercial Bank of Dubai UAE Domestic Mobile App Initiative of the Year

Bank of China (Hong Kong) Limited Hong Kong Domestic Cash Management Bank of the Year

CTBC Bank Taiwan Domestic Project Finance Bank of the Year Taiwan Domestic Foreign Exchange Bank of the Year

Bank of Communications (Hong Kong) Limited Hong Kong International Green Finance Initiative of the Year

DBS Bank Ltd. Singapore Domestic Technology & Operations Bank of the Year Singapore Domestic Digital Transformation Bank of the Year

Bank of Communications co., Ltd. Hong Kong Branch Hong Kong International Cash Management Bank of the Year

Eurasian Bank Kazakhstan Domestic Digital Transformation Bank of the Year

Bank of the Philippine Islands Philippines Domestic Foreign Exchange Bank of the Year

Far Eastern International Bank Taiwan Domestic Green Finance Initiative of the Year

Bank SinoPac Taiwan Domestic Mobile App Initiative of the Year

First Abu Dhabi Bank UAE Domestic Cash Management Bank of the Year UAE Domestic Trade Finance Bank of the Year

Banque Misr Egypt Domestic Cash Management Bank of the Year Egypt Domestic Foreign Exchange Bank of the Year

Gulf International Bank BSC Bahrain Domestic Cash Management Bank of the Year

BDO Unibank, Inc. Philippines Domestic Health & Wellness Bank of the Year Philippines Domestic Sustainable Finance Initiative of the Year

Habib Bank Limited Pakistan Domestic Cash Management Bank of the Year Pakistan Domestic Trade Finance Bank of the Year Pakistan Domestic Project Finance Bank of the Year

BPI Capital Corporation Philippines Domestic Project Finance Bank of the Year

Hang Seng Bank Limited Hong Kong Domestic Trade Finance Bank of the Year China International Cash Management Bank of the Year

Cathay United Bank Co., Ltd. Taiwan Domestic Cash Management Bank of the Year Taiwan Domestic Trade Finance Bank of the Year 18 ASIAN BANKING & FINANCE | Q4 2023

HSBC Sri Lanka International Sustainable Finance Initiative of the Year

ICICI Bank India Domestic Trade Finance Bank of the Year India Domestic Foreign Exchange Bank of the Year

Turk Ekonomi Bankasi A.S. Turkey Domestic Cash Management Bank of the Year

IDBI Bank Ltd India Domestic Liquidity Management Initiative of the Year

United Overseas Bank (Malaysia) Bhd Malaysia International Cash Management Bank of the Year Malaysia International Trade Finance Bank of the Year

IDFC FIRST Bank Limited India Domestic Digital Transformation Bank of the Year

United Overseas Bank Limited Brunei International Project Finance Bank of the Year

ING Bank N.V. South Korea International Trade Finance Bank of the Year

UOB Thailand Thailand International Green Finance Initiative of the Year

J Trust Royal Bank Plc. Cambodia Domestic Trade Finance Bank of the Year

Commercial Bank of Ceylon PLC Bangladesh International Trade Finance Bank of the Year

KASIKORNBANK PCL Thailand Domestic Cash Management Bank of the Year Thailand Domestic Digital Payment Initiative of the Year

Vietnam Maritime Commercial Joint Stock Bank (MSB) Vietnam Domestic SME Partnership Initiative Bank of the Year

Mashreq Bank UAE Domestic Risk Management Initiative of the Year UAE Domestic Digital Transformation Bank of the Year Maybank Investment Bank Malaysia Domestic Project Finance Bank of the Year National Development Bank Plc Sri Lanka Domestic Project Finance Bank of the Year Nepal SBI Bank Limited Nepal Domestic Technology & Operations Bank of the Year Nepal Domestic Mobile Banking Initiative of the Year OCBC Bank Singapore Domestic Trade Finance Bank of the Year Singapore Domestic Cash Management Bank of the Year OCBC Wing Hang Bank (China) Limited China International Trade Finance Bank of the Year PT. Bank OCBC NISP Tbk. Indonesia International Cash Management Bank of the Year PT Bank CIMB Niaga Tbk Indonesia Domestic Project Finance Bank of the Year Indonesia Domestic Sustainable Finance Initiative of the Year PT Bank Mandiri (Persero) Tbk. Indonesia Domestic Trade Finance Bank of the Year Indonesia Domestic Cash Management Bank of the Year Punjab National Bank India Domestic Technology & Operations Bank of the Year India Domestic Health & Wellness Bank of the Year

United Arab Bank UAE Domestic Online Banking Initiative of the Year

RETAIL BANKING AWARDS Abu Dhabi Commercial Bank SME Bank of the Year - UAE New SME Lending Product of the Year - UAE Advanced Bank of Asia Limited (ABA Bank) Domestic Retail Bank of the Year - Cambodia Affin Bank Berhad Mortgage and Home Loan Product of the Year - Malaysia Airtel Payments Bank Digital Consumer Banking Initiative of the Year - India Employer Award of the Year - Bronze Al Rajhi Banking & Investment Corporation (Malaysia) Bhd Virtual Bank of the Year - Malaysia Alliance Bank Malaysia Berhad New Consumer Lending Product of the Year - Malaysia Financial Inclusion Initiative of the Year - Malaysia AmBank Group Branch Innovation of the Year - Gold Mobile Banking & Payment Initiative of the Year - Malaysia Ardshinbank CJSC Domestic Retail Bank of the Year - Armenia

RHB Banking Group Malaysia Domestic Foreign Exchange Bank of the Year

Asialink Finance Corporation Finance Company of the Year - Philippines SME Financial Inclusion Initiative of the Year - Philippines

Rizal Commercial Banking Corporation Philippines Domestic Trade Finance Bank of the Year Philippines Domestic Cash Management Bank of the Year

Axis Bank Limited Domestic Retail Bank of the Year - India Digital Transformation of the Year - India

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) Vietnam Domestic Technology & Operations Bank of the Year

Ayeyarwaddy Farmers Development Bank Remittance Company of the Year - Myanmar

Saigon-Hanoi Commercial JS Bank - Social Impact Finance Initiative Baiduri Bank Domestic Retail Bank of the Year - Brunei Vietnam Domestic Social Impact Finance Initiative of the Year Saudi National Bank Saudi Arabia Domestic Cash Management Bank of the Year

Bank Aladin Syariah Islamic Banking Initiative of the Year - Indonesia

Standard Chartered Bank Nepal Limited Nepal International Trade Finance Bank of the Year

Bank of Ayudhya Public Company Limited Millennial Product Initiative of the Year - Thailand Financial Inclusion Initiative of the Year - Thailand AI & Machine Learning Initiative of the Year - Thailand Mobile Banking & Payment Initiative of the Year - Thailand

Taishin International Bank Taiwan Domestic Technology & Operations Bank of the Year

ASIAN BANKING & FINANCE | Q4 2023 19

EVENT: ASIAN BANKING & FINANCE AWARDS Bank of China (Hong Kong) SME Bank of the Year - Hong Kong Digital Business Banking Initiative of the Year - Hong Kong Mobile Banking & Payment Initiative of the Year - Hong Kong Digital Transformation of the Year - Hong Kong Bank of the Philippine Islands ESG Program of the Year - Silver Bank SinoPac Branch Innovation of the Year - Silver AI & Machine Learning Initiative of the Year - Taiwan Analytics Initiative of the Year - Taiwan Mobile Banking & Payment Initiative of the Year - Taiwan BDO Foundation Financial Inclusion Initiative of the Year - Philippines BDO Private Bank Private Bank of the Year - Philippines BIDV SME Bank of the Year - Vietnam Cambodia Public Bank SME Bank of the Year - Cambodia Chip Mong Bank SME Financial Inclusion Initiative of the Year - Cambodia Cathay United Bank Domestic Retail Bank of the Year - Taiwan Insurance Product Innovation of the Year - Taiwan

First Commercial Bank SME Bank of the Year - Taiwan Digital Business Banking Initiative of the Year - Taiwan GoTyme Bank Corporation Debit Card Initiative of the Year - Philippines Digital Wallet Initiative of the Year - Philippines Government Housing Bank, Thailand Mortgage and Home Loan Product of the Year - Thailand Habib Bank Limited Analytics Initiative of the Year - Pakistan Digital Business Banking Initiative of the Year - Pakistan Digital Consumer Banking Initiative of the Year - Pakistan Helicap SME Financial Inclusion Initiative of the Year - Singapore HNB Finance PLC Marketing & Brand Initiative of the Year - Sri Lanka Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) Sustainability Initiative of the Year - Vietnam Hong Leong Bank Malaysia SME Bank of the Year - Malaysia Hong Leong Finance ASEAN Finance Company of the Year

Cebuana Lhuillier Rural Bank, Inc. Rural/Cooperative Bank of the Year - Philippines

HSBC Financial Inclusion Initiative of the Year - Hong Kong Investment Product Innovation of the Year - Hong Kong Marketing & Brand Initiative of the Year - Hong Kong Strategic Partnership of the Year - Hong Kong Wealth Management Platform of the Year - Hong Kong Analytics Initiative of the Year - Hong Kong

Chang Hwa Commercial Bank Banking for Women Initiative of the Year - Taiwan

HSBC PayMe Millennial Product Initiative of the Year - Hong Kong

CIMB Thai Bank Public Company Limited Wealth Management Platform of the Year - Thailand Analytics Initiative of the Year - Thailand

HSBC Bangladesh International Retail Bank of the Year - Bangladesh Marketing & Brand Initiative of the Year - Bangladesh

Commercial Bank of Ceylon PLC Digital Consumer Banking Initiative of the Year - Sri Lanka SME Bank of the Year - Sri Lanka

HSBC Bank (Vietnam) Ltd. International Retail Bank of the Year - Vietnam Credit Card Initiative of the Year - Vietnam

CIMB Bank Berhad SME Digital Innovation of the Year - Malaysia

HSBC Bank Australia Limited Consumer Finance Product of the Year - Australia Credit Card Initiative of the Year - Australia New Consumer Lending Product of the Year - Australia

CB Bank SME Bank of the Year - Myanmar

CTBC Bank Strategic Partnership of the Year - Taiwan Credit Card Initiative of the Year - Taiwan DNSE Securities Investment Product Innovation of the Year - Vietnam Online Securities Platform of the Year - Vietnam E.SUN Bank Retirement Solutions of the Year - Taiwan EMIRATES NBD Domestic Retail Bank of the Year - UAE Analytics Initiative of the Year - UAE

HSBC China International Retail Bank of the Year - Mainland China AI & Machine Learning Initiative of the Year - Mainland China HSBC India International Retail Bank of the Year - India HSBC Philippines International Retail Bank of the Year - Philippines Wealth Management Platform of the Year - Philippines

Eurasian Bank Domestic Retail Bank of the Year - Kazakhstan

HSBC Singapore Digital Transformation of the Year - Singapore Mortgage and Home Loan Product of the Year - Singapore Strategic Partnership of the Year - Singapore

Fam Start-up Banking Initiative of the Year - India

HSBC Sri Lanka International Retail Bank of the Year - Sri Lanka

20 ASIAN BANKING & FINANCE | Q4 2023

Hugosave (Atlas Consolidated Pte Ltd) Consumer Finance Product of the Year - Singapore Financial Inclusion Initiative of the Year - Singapore Kasikorn Global Payment Co., Ltd. Strategic Partnership of the Year - Thailand KASIKORNBANK PCL Consumer Finance Product of the Year - Thailand Digital Wallet Initiative of the Year - Thailand KBZ Bank Domestic Retail Bank of the Year - Myanmar Core Banking System Initiative of the Year - Myanmar Krungsri Auto under Bank of Ayudhya PLC. Automobile Lending Initiative of the Year - Thailand Malayan Banking Berhad Marketing & Brand Initiative of the Year - Malaysia Mashreq Service Innovation of the Year - UAE Digital Consumer Banking Initiative of the Year - UAE New Consumer Lending Product of the Year - UAE Wealth Management Platform of the Year - UAE

OCBC Securities Customer Service Initiative Award - Singapore Oman Arab Bank Domestic Retail Bank of the Year - Oman SME Payment Solutions of the Year - Oman Oriental Bank Start-up Banking Initiative of the Year - Cambodia Pera Hub Fintech Digital Innovation of the Year - Philippines PrimeCredit Limited Finance Company of the Year - Hong Kong PT Bank CIMB Niaga Tbk Banking for Women Initiative of the Year - Indonesia Digital Consumer Banking Initiative of the Year - Indonesia PT Bank CTBC Indonesia Consumer Finance Product of the Year - Indonesia PT Bank HSBC Indonesia ESG Program of the Year - Silver Digital Business Banking Initiative of the Year- Indonesia

Maya Virtual Bank of the Year - Philippines

PT Bank Mandiri (Persero) Tbk Mobile Banking & Payment Initiative of the Year - Indonesia New Consumer Lending Product of the Year - Indonesia

Maybank Digital Wallet Initiative of the Year - Malaysia

PT Bank Tabungan Negara (Persero) Tbk Wealth Management Platform of the Year - Indonesia

Maybank Cambodia International Retail Bank of the Year - Cambodia

KoinWorks SME Financial Inclusion Initiative of the Year - Indonesia

Maybank Philippines, Inc. Strategic Partnership of the Year - Philippines

RAK Bank Mortgage and Home Loan Product of the Year - UAE Fraud Initiative of the Year - UAE

Meezan Bank Domestic Retail Bank of the Year - Pakistan AI & Machine Learning Initiative of the Year - Pakistan Data Governance Initiative of the Year - Pakistan Mega International Commercial Bank Consumer Finance Product of the Year - Taiwan Military Commercial Joint Stock Bank (MB Bank) Mobile Banking & Payment Initiative of the Year - Vietnam Mox Bank New Consumer Lending Product of the Year - Hong Kong Nam A Bank Open Banking Initiative of the Year - Vietnam Risk Initiative of the Year - Vietnam National Development Bank PLC Domestic Retail Bank of the Year - Sri Lanka Banking for Women Initiative of the Year - Sri Lanka Nepal SBI Bank Limited SME Bank of the Year - Nepal Digital Business Banking Initiative of the Year - Nepal

RAKislamic Islamic Banking Initiative of the Year - UAE Rizal Commercial Banking Corporation Remittance Company of the Year - Philippines SME Bank of the Year - Philippines Marketing & Brand Initiative of the Year - Philippines RCBC Bankard Services Corporation Credit Card Initiative of the Year - Philippines RHB Banking Group Domestic Retail Bank of the Year - Malaysia Millennial Product Initiative of the Year - Malaysia Sacombank SME Digital Innovation of the Year - Vietnam Saigon-Hanoi Commercial Joint Stock Bank Strategic Partnership of the Year - Vietnam Banking for Women Initiative of the Year - Vietnam SATHAPANA Limited Finance Company of the Year - Myanmar

NeuXP Service Innovation of the Year - Malaysia

Security Bank Corporation New Consumer Lending Product of the Year - Philippines

OCBC Bank ASEAN SME Bank of the Year

Shwe Rural and Urban Development Bank Ltd. Service Innovation of the Year - Myanmar

OCBC NISP SME Bank of the Year - Indonesia

Social Islami Bank Limited Financial Inclusion Initiative of the Year - Bangladesh ASIAN BANKING & FINANCE | Q4 2023 21

EVENT: ASIAN BANKING & FINANCE AWARDS Standard Chartered Bank (Taiwan) Limited International Retail Bank of the Year - Taiwan Digital Consumer Banking Initiative of the Year - Taiwan Investment Product Innovation of the Year - Taiwan Standard Chartered Bank (Singapore) Limited International Retail Bank of the Year - Singapore Online Securities Platform of the Year - Singapore Structured Products Platform of the Year - Hong Kong Wealth Management Platform of the Year - Singapore Investment Product Innovation of the Year - Singapore New Consumer Lending Product of the Year - Singapore Standard Chartered Securities (B) Sdn Bhd Wealth Management Platform of the Year - Brunei Standard Chartered Bank (Hong Kong) Limited ESG Program of the Year - Gold International Retail Bank of the Year - Hong Kong Employer Award of the Year - Gold Statrys SME Payment Solutions of the Year - Hong Kong Syfe Wealth Management Fintech of the Year - Singapore Taishin International Bank Financial Inclusion Initiative of the Year - Taiwan New Consumer Lending Product of the Year - Taiwan Techcombank Domestic Retail Bank of the Year - Vietnam External Social Initiative of the Year - Vietnam SME Payment Solutions of the Year - Vietnam The Bank of East Asia, Limited Domestic Retail Bank of the Year - Hong Kong Digital Consumer Banking Initiative of the Year - Hong Kong Thunes Payment Infrastructure Platform of the Year - Singapore TNEX Virtual Bank of the Year - Vietnam Consumer Finance Product of the Year - Vietnam

UOB Thailand Employer Award of the Year - Silver International Retail Bank of the Year - Thailand Vietcombank Remittance Company Remittance Company of the Year - Vietnam PVcomBank Marketing & Brand Initiative of the Year - Vietnam Digital Transformation of the Year - Vietnam Vietnam Technological and Commercial Joint Stock Bank Digital Consumer Banking Initiative of the Year - Vietnam WeLab Bank Virtual Bank of the Year - Hong Kong Yuanta Commercial Bank Open Banking Initiative of the Year - Taiwan ZA Bank Debit Card Initiative of the Year - Hong Kong

CORPORATE AND INVESTMENT BANKING AWARDS Axis Capital Corporate & Investment Bank of the Year - India Securities House of the Year - India BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM Corporate Client Initiative of the Year - Vietnam Bank Muscat SAOG Corporate & Investment Bank of the Year - Oman Debt Deal of the Year - Oman Bank of Ayudhya PCL Innovative Deal of the Year - Thailand Bank of Ayudhya Public Company Limited Corporate Client Initiative of the Year - Thailand

Trust Bank Singapore Virtual Bank of the Year - Singapore Digital Consumer Banking Initiative of the Year - Singapore

Bank Rakyat Green Deal of the Year - Indonesia

Ujjivan Small Finance Bank Financial Inclusion Initiative of the Year - India

BDO Capital Corporate & Investment Bank of the Year - Philippines Mergers and Acquisitions Deal of the Year - Philippines Project Infrastructure Finance Deal of the Year - Philippines

Union Bank of the Philippines Branch Innovation of the Year - Bronze Domestic Retail Bank of the Year - Philippines Digital Business Banking Initiative of the Year - Philippines Digital Transformation of the Year - Philippines Mobile Banking & Payment Initiative of the Year - Philippines United Bank Limited Mobile Banking & Payment Initiative of the Year - Pakistan UNO Digital Bank Open Banking Initiative of the Year - Philippines United Overseas Bank Limited Domestic Retail Bank of the Year - Singapore Banking for Women Initiative of the Year - Singapore Debit Card Initiative of the Year - Singapore Fraud Initiative of the Year - Singapore Health and Wellness Initiative of the Year - Singapore Analytics Initiative of the Year - Singapore Mobile Banking & Payment Initiative of the Year - Singapore UOB Malaysia International Retail Bank of the Year - Malaysia 22 ASIAN BANKING & FINANCE | Q4 2023

BPI Capital Corporation Innovative Deal of the Year - Philippines Green Deal of the Year - Philippines BRI Danareksa Sekuritas Securities House of the Year - Indonesia Bualuang Securities Public Company Limited Corporate & Investment Bank of the Year - Thailand Securities House of the Year - Thailand China Bank Capital Corporation Debt Deal of the Year - Philippines CIMB Equity Deal of the Year - Malaysia Mergers and Acquisitions Deal of the Year - Malaysia CIMB Singapore Syndicated Loan of the Year - Singapore Innovative Deal of the Year - Singapore

Commercial Bank of Ceylon PLC Debt Deal of the Year - Sri Lanka Commercial International Bank Egypt Green Deal of the Year - Egypt Project Infrastructure Finance Deal of the Year - Egypt CTBC Bank Corporate & Investment Bank of the Year - Taiwan Green Deal of the Year - Taiwan

PT Bank Negara Indonesia (Persero) Tbk Debt Deal of the Year - Indonesia Mergers and Acquisitions Deal of the Year - Indonesia Project Infrastructure Finance Deal of the Year - Indonesia PT BNI Sekuritas Innovative Deal of the Year - Indonesia QInvest LLC Corporate & Investment Bank of the Year - Qatar

Habib Bank Limited Corporate & Investment Bank of the Year - Pakistan Equity Deal of the Year - Pakistan Mergers and Acquisitions Deal of the Year - Pakistan

RAKBANK Corporate Client Initiative of the Year - United Arab Emirates

Halyk Bank Corporate & Investment Bank of the Year - Kazakhstan

RHB Investment Bank Berhad Project Infrastructure Finance Deal of the Year - Malaysia Debt Deal of the Year - Malaysia

HSBC Asset Management Innovation of the Year - Singapore ICICI Bank Technology & Operations Initiative of the Year - India ICICI Securities Limited Innovative Deal of the Year - India Mergers and Acquisitions Deal of the Year - India JS Bank Limited Green Deal of the Year - Pakistan MALAYAN BANKING BERHAD, SINGAPORE (Maybank Singapore) Corporate & Investment Bank of the Year - Singapore Green Deal of the Year - Singapore Maybank Investment Bank Berhad Project Infrastructure Finance Deal of the Year - Malaysia Corporate & Investment Bank of the Year - Malaysia Syndicated Loan of the Year - Malaysia Mergers and Acquisitions Deal of the Year - Malaysia

RCBC Capital Corporation Innovative Deal of the Year - Philippines

Social Development Bank Corporate Client Initiative of the Year - Saudi Arabia Taipei Fubon Commercial Bank Co., Ltd. Innovative Deal of the Year - Taiwan Syndicated Loan of the Year - Taiwan Mergers and Acquisitions Deal of the Year - Taiwan Tasaheel Microfinance Sustainability Bond of the Year - Egypt The Siam Commercial Bank PCL (SCB) Debt Deal of the Year - Thailand Green Deal of the Year - Thailand Project Infrastructure Finance Deal of the Year - Thailand Vietnam Joint Stock Commercial Bank For Industry And Trade (VietinBank) Project Infrastructure Finance Deal of the Year - Vietnam

Meezan Bank Innovative Deal of the Year - Pakistan Project Infrastructure Finance Deal of the Year - Pakistan Nanyang Commercial Bank, Limited Debt Deal of the Year - Hong Kong Offshore Distribution Initiative of the Year - Hong Kong NATIONAL DEVELOPMENT BANK PLC Corporate Client Initiative of the Year - Sri Lanka NDB Investment Bank Limited Corporate & Investment Bank of the Year - Sri Lanka

Abu Dhabi Commercial Bank

Nepal Investment Mega Bank Ltd. Mergers and Acquisitions Deal of the Year - Nepal NewParadigm Capital Markets Innovative Deal of the Year - Malaysia OCBC Bank Green Deal of the Year - Hong Kong Syndicated Loan of the Year - Hong Kong PNB Capital and Investment Corporation Syndicated Loan of the Year - Philippines PT Bank CIMB Niaga Tbk Corporate & Investment Bank of the Year - Indonesia Corporate Client Initiative of the Year - Indonesia Syndicated Loan of the Year - Indonesia

Affin Bank Berhad

Al Rajhi Banking & Investment Corporation (Malaysia) Bhd ASIAN BANKING & FINANCE | Q4 2023 23

EVENT: ASIAN BANKING & FINANCE AWARDS

Alliance Bank Malaysia Berhad

Asialink Finance Corporation

Bank Aladin Syariah

Bank Mandiri

BDO Unibank, Inc.

Cathay United Bank

CIMB Thai Bank Public Company Limited

Government Housing Bank, Thailand 24 ASIAN BANKING & FINANCE | Q4 2023

DNSE Securities

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)

Ayeyarwaddy Farmers Development Bank

Baiduri Bank

Bank SinoPac

Cebuana Lhuillier Rural Bank, Inc.

First Commercial Bank

Hong Leong Bank Malaysia

CIMB Bank Berhad

GoTyme Bank Corporation

HSBC Bangladesh

HSBC Hong Kong

HSBC Singapore

KBZ Bank

KASIKORNBANK PCL

Maya

PT Bank Tabungan Negara (Persero) Tbk - BTN Prioritas

SATHAPANA Limited

Nam A Bank

Mashreq

OCBC Bank

RCBC Bankard Services Corporation

Security Bank Corporation

RHB Banking Group

Shwe Rural and Urban Development Bank Ltd. ASIAN BANKING & FINANCE | Q4 2023 25

EVENT: ASIAN BANKING & FINANCE AWARDS

Standard Chartered Bank (Hong Kong) Limited

Standard Chartered Bank (Singapore) Limited

Social Islami Bank Limited

Trust Bank Singapore

Standard Chartered Bank (Taiwan) Limited

United Overseas Bank Limited

UOB Thailand

Union Bank of the Philippines

Abu Dhabi Commercial Bank

CIMB Singapore 26 ASIAN BANKING & FINANCE | Q4 2023

Bank of Communications (Hong Kong) Limited

DBS Bank

WeLab Bank

Bank SinoPac

Cathay United Bank

Hang Seng Bank Limited

ING

OCBC Bank

RCBC

United Overseas Bank Limited

HSBC

OCBC Bank

Social Development Bank

PT Bank CIMB Niaga Tbk

PT Bank Mandiri (Persero) Tbk.

Taishin International Bank

RHB Bank Berhad

United Overseas Bank (Malaysia) Bhd

BDO Capital

CIMB Singapore

Maybank Singapore

NewParadigm Capital Markets

PT Bank CIMB Niaga Tbk

Taipei Fubon Commercial Bank

CIBA: PT Bank Negara Indonesia (Persero) Tbk and BNI Sekuritas

Vietnam Joint Stock Commercial Bank For Industry And Trade (VietinBank) ASIAN BANKING & FINANCE | Q4 2023 27

INTERNATIONAL RETAIL BANK OF THE YEAR - SINGAPORE

Standard Chartered Singapore unveils enhanced SC Mobile app for cutting-edge digital banking The bank focuses on personalisation, leveraging AI and client collaboration through the SC Inner Circle.

Standard Chartered Singapore was honoured at the ABF Retail Banking Awards 2023

tandard Chartered Singapore, a leader in digital banking, has launched the updated SC Mobile. It is an all-inone app designed to offer a new standard of digital banking for its clients, making it the better app for saving, spending, and growing your money. As the digital era is fast evolving, fintech and the API marketplace are bound to be highly involved, in fact, they are key contributors to enhanced digital interactions. Whilst we continuously invest in our tech infrastructure and innovation, we find that there are good partnership opportunities to leverage the expertise of partners who are specialised, good at what they do and agile to make use of the latest technologies available out there. The bank also values the importance of delivering the best experience for our clients. The three main pillars which hold the core framework of an ideal digital experience include making digital banking personal, smarter, faster, and intuitive, allowing banking to be more personal through AI by delivering personalised content and recommendations as clients scroll through the mobile app, and through highly engaging co-creation with clients. Banking is smarter and faster With a smarter and faster banking experience, less time is spent on tasks such as login, bill payment and investment

28 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

product application. For example, quick funds transfer is one of the top digital banking activities – with the PayNow button shown on home screen, you can easily transfer funds to your friends or organisations at a quicker speed, a time reduction of more than 50%. The experience is also more intuitive with enhanced budget management tools that allow clients to set and track budgets against spending. Receive insights about your spending behaviour and view your spending transactions broken down into categories. By having a comprehensive and wholesome view of your transactions, this feature can help you better gauge and plan your finances in the long term. SC Mobile app upgrade: A personalised banking experience There is a greater expectation for banks to deliver more instant and personalised convenience of banking on the go at clients’ fingertips. With more than 80% of our clients using our online services, we want to deliver instant and personalised services. Our client experience journey has been automated and today, 100% of service requests can be fulfilled by digital channels. Giving an example

of personalisation through AI, imagine you have just paid for a ride-hailing trip using your SC credit card. Our AI-powered journey will share relevant content such as how you can receive a voucher to offset your next ride-hailing trip. We co-create and redesign better banking experiences on our digital platforms with our customers by introducing the SC Inner Circle. Clients are the heart of what we do, and customer insights and feedback are important in helping us elevate the digital experience. The Inner Circle was formed by engaging an exclusive group of active customers to co-create with. Through one-on-one discussions, focus groups and surveys, our clients expressed their preferences when using the SC Mobile app. For example, one of the feedback items we received was being able to see a holistic account holding over transactions upon login. We heard their views and made that UI change. By gaining insights from our customers on digital platforms, this is an example of how even in a digitally-led era, we keep in touch with what really matters – which is our clients.

We co-create and redesign better banking experiences on our digital platforms with our customers by introducing the SC Inner Circle

Standard Chartered leverages tech, strong customer relationships, and ESG commitments With a focus on digital transformation and strategic partnerships, it delivers seamless financial solutions. Its integration of ESG also reflects its commitment to sustainable finance and responsible practices. international banking services.

Standard Chartered Hong Kong office

n the fast-paced and dynamic world of retail banking, excelling requires a relentless commitment to understanding and anticipating the ever-evolving needs of customers whilst leveraging innovative technologies to deliver seamless, personalised, and secure financial solutions. By fostering a customer-centric culture, empowering employees with continuous training, and nurturing strong partnerships within the industry, a successful retail banking institution can consistently provide exceptional service, drive sustainable growth, and build enduring trust with its diverse customer base. Standard Chartered Bank (Hong Kong) Limited has thrived in this regard and continues to aspire to be the leading international wealth manager and the preferred affluent brand. It had also been named International Retail Bank of the Year - Hong Kong, as well as given the Employer Award of the Year - Gold, and ESG Program of the Year - Gold award at the Asian Banking & Finance Awards. “Winning awards in the ESG Program of the Year, International Bank of the Year, and Employer Award of the Year categories at the Asian Banking & Finance Awards is a recognition of Standard Chartered Hong Kong’s commitment to sustainability, client centricity, and employee well-being, which are all core components of our overall strategy. These wins align with the bank’s overall values and vision for a sustainable future in several ways,” the company stated.

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Seizing opportunities in Greater China The bank hinges its strategic priorities on two principles: grow affluent and build wealth continuums. “Our combination of wealth-led proposition, digital solutions, and dedicated service model gives us a unique advantage in meeting the needs of an increasing number of High Networth Individuals across Hong Kong and China,” the company stated. Standard Chartered Hong Kong also sees to it that it is adapting to changing client behaviour and increasing its digital footprint by scaling up personal banking transactions via its digital-first and partnership-led model. Amongst its key partnership in this endeavour are Alipay HK and Cathay Pacific. Alipay HK is the first mobile wallet in Hong Kong with over three million members covering various merchants, whilst Cathay Pacific operates Asia’s leading travel and lifestyle rewards programme with around 12 million members (2.4 million members base in HK and Macau), which provide access to an extensive network of brands, hotels, airline companies, and restaurants. Additionally, Standard Chartered Hong Kong is ramping up efforts to seize the opportunities that can be offered in Greater Bay Area (GBA) and has opened its first GBA banking centre, in order to provide clients with a full range of cross-boundary wealth management and

Leveraging technology to enhance digital banking, building strong customer relationships The bank showcases its dedication to leveraging technology to enhance the digital banking experience for its customers. By continuously upgrading its digital platform and offering new services focused on automation, digitisation, and simplification, the bank ensures a convenient and accessible banking experience for clients. With a strong commitment to digital transformation, clients can now access advisory services through remote channels for complex transactions or conduct DIY banking 24/7. The bank’s achievements are evident in the significant growth of its digital FX trade client base and the increasing adoption of its advanced digital capabilities. Meanwhile,Standard Chartered Hong Kong’s strategies for building and maintaining strong customer relationships in the competitive retail banking market of Hong Kong are built on making processes faster and more accessible. By optimising its branch network and introducing the Green Branch, which offers customers a unique paperless banking experience. Through Standard Chartered Hong Kong’s eConciere, clients can likewise learn about digital banking services and receive warm tips for digital capabilities. The bank’s efforts to revamp traditional banking practices and create an innovative, customer-centric approach demonstrate its commitment to offering a versatile and

ESG PROGRAM OF THE YEAR - GOLD INTERNATIONAL RETAIL BANK OF THE YEAR - HONG KONG EMPLOYER AWARD OF THE YEAR - GOLD efficient banking experience that combines both digital and physical branches. Driving diversity, inclusion, and culture change At the core of Standard Chartered Hong Kong’s success lies its focus on creating an inclusive environment where every colleague can thrive. The bank has implemented several key initiatives to achieve this goal, such as partnering with external bodies to drive diversity and inclusion initiatives, sharpening the focus on employee well-being across physical, mental, social, and financial aspects, and empowering female talent for leadership roles through structured development programs. Furthermore, the bank ensures equal pay for equal work and remains dedicated to the communities it serves, as seen through its iconic community initiatives like the Standard Chartered Hong Kong Marathon and Arts in the Park. The bank’s culture transformation initiative related to performance management has been impactful as well. By removing performance ratings for individuals and encouraging more frequent and impactful career conversations, Standard Chartered Hong Kong promotes a culture of continuous feedback and ambitious goal-setting. This shift has resulted in a significant increase in colleagues receiving feedback, fostering collaboration, innovation, and overall employee performance. In a highly competitive industry like banking, the bank has taken strategic measures to attract and retain top talent. By widening its talent pool through non-banking talent recruitment and hiring overseas talent for key positions, the bank ensures a diverse and skilled workforce. Meanwhile, to retain talent, the bank invests in employee training and upskilling, focuses on engagement through various activities, and continuously seeks feedback through employee engagement surveys.

Standard Chartered Hong Kong Marathon

“Our ongoing efforts to invest in our people, create a workplace culture that values diversity and inclusion, and engage with our communities reflect our unwavering commitment to making a positive difference. We are proud of the progress we have made so far and are excited about the opportunities that lie ahead,” the company stressed. Integrating ESG into operations and decision-making As part of its commitment to sustainability and responsible business practices, Standard Chartered Hong Kong integrates

Standard Chartered Hong Kong is ramping up efforts to seize the opportunities that can be offered in Greater Bay Area and has opened its first Greater Bay Area (GBA) banking centre, in order to provide clients with a full range of cross-boundary wealth management and international banking services ESG considerations into its operations and decision-making processes. First and foremost, the bank’s leading sustainable finance franchise supports clients in achieving their Sustainable Development Goals (SDGs) by offering a wide range of sustainable finance solutions. These solutions benefit both corporate and retail clients, promoting sustainable development, economic growth, and job creation. The bank’s commitment to sustainable investment products is evident, with an expanding range available across 16 markets in Asia, Africa, and the Middle East. The bank also actively gives back to the

community through signature programmes and staff volunteering. With a focus on promoting a healthy lifestyle, empowering young people, and nurturing future-fit FinTech talent, Standard Chartered Hong Kong’s community initiatives have positively impacted over 180,000 beneficiaries in Hong Kong alone. Moreover, over 3,660 staff members have dedicated their time as volunteers to demonstrate their love and care for the community. Mobilising funding for green finance Integrating ESG considerations into its operations and decision-making processes, Standard Chartered Hong Kong has strategically included ESG criteria within its Sustainability Pillars. The bank’s ambitious focus on sustainability is driven by its ‘Stands,’ which tackle climate change, inequality, and unfair aspects of globalisation. These sustainability commitments are deeply embedded across the bank’s business, supported by robust governance from the Board, Management Team, and various sub-committees. With a clear focus on the United Nations Sustainable Development Goals (SDGs), the bank employs tools such as the Sustainability Philosophy, Position Statements, Supplier Charter, and a list of Prohibited Activities to ensure sustainability is ingrained in its decision-making. These ESG efforts resulted in several notable achievements for Standard Chartered Hong Kong. As a key green/ sustainable asset hub within the Group, Hong Kong has witnessed significant growth in Sustainable Finance Assets, with a particular focus on Green Assets. The bank has also committed to achieving net zero emissions from its operations and embracing renewable energy sources by 2025, showcasing its dedication to environmental responsibility. Looking ahead, Standard Chartered Hong Kong remains firmly committed to its ESG goals. With long-term ambitions in place, the bank is determined to tackle climate change and reduce carbon emissions whilst mobilising significant funding of US$300b for green and transition finance. Additionally, the bank is set to end legacy direct coal financing, contributing to a more sustainable and equitable future for everyone and the planet. As a leader in employer excellence and ESG commitment, Standard Chartered Hong Kong continues to inspire positive change within the industry and beyond, striving to uphold its brand promise of being here for good. ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 31

Standard Chartered Bank’s focus on delivering the best solutions pays off at ABF Retail Banking Awards Standard Chartered Bank brought home six major wins for its many innovative solutions focused on improving client experience.

Standard Chartered Bank wins 6 awards

tandard Chartered Bank Wealth Management’s commitment to delivering best-in-class solutions, customer experience, and advice has been recognised at the recently held prestigious Asian Banking & Finance (ABF) Retail Banking Awards 2023, where the bank won a total of six major awards. These awards include Wealth Management Platform of the Year - Singapore, Online Securities Platform of the Year - Singapore, Structured Products Platform of the Year - Hong Kong, New Consumer Lending Product of the Year - Singapore, Investment Product Innovation of the Year - Singapore, and Wealth Management Platform of the Year - Brunei. The bank has been investing heavily in technology and talent to enhance its platform and service, to provide a best-inclass differentiated value proposition for clients. A key focus has been on delivering wealth propositions digitally and delivering

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digital experiences with a human touch, which is becoming increasingly critical to the best-in-class client experience. The bank’s myRM app allows clients to connect to and communicate with their relationship managers (RMs) and the bank digitally, enhancing clients’ accessibility to their RMs, improving time to market for transactions, lowering costs through a streamlined servicing model, and addressing technical obsolescence risks with the integration of cloud services. Enhanced client experience via improving user journeys Standard Chartered in Singapore has launched online equity capabilities for clients, providing convenient trading access to equity markets across global exchanges for both clients and RMs. Clients can trade via any web-enabled device, such as their smartphone or tablet, and the app is equipped

with relevant tools to facilitate investment decisions. Clients have been delighted by this new offering and the flexibility it provides for their investing activities. Another digital solution delivering outstanding service is the wealth lending service OneOD OneClick, which is integrated into the bank’s existing digital Foreign Exchange (FX) trading platform. This solution empowers RMs to book FX trades on behalf of their clients using their lending facilities. This has reduced the turnaround time needed to perform a loan switch transaction from two days to less than a minute, delivering an enormous amount of efficiency to the platform. The delivery of this service was extremely wellreceived by clients, resulting in a tripling in the volume of loan switch trades within the first six months of implementation. During this same period, revenue generated by the trades more than doubled.

WEALTH MANAGEMENT PLATFORM OF THE YEAR - SINGAPORE ONLINE SECURITIES PLATFORM OF THE YEAR - SINGAPORE STRUCTURED PRODUCTS PLATFORM OF THE YEAR - HONG KONG NEW CONSUMER LENDING PRODUCT OF THE YEAR - SINGAPORE INVESTMENT PRODUCT INNOVATION OF THE YEAR - SINGAPORE WEALTH MANAGEMENT PLATFORM OF THE YEAR - BRUNEI

Standard Chartered Bank is proud of the achievements it has made as it continually enhances its digital capabilities, wealth platform, offerings, and client experience Additionally, Hong Kong’s retail professional investors (PI) can now fully benefit from Standard Chartered’s automated structured notes platform. The platform allows automated pricing, term sheet and risk disclosure document generation, real-time pre-trade credit checks and straight-through processing across operations, and a risk and regulatory reporting platform. These market-leading features empower RMs to focus on wealth planning and reduce their administrative workload. They are now able to deliver quality advice and product ideas quicker and more consistently to clients. This creates massive benefits for clients, who can now respond to market opportunities more quickly. PI clients in Hong Kong have been very receptive to the new platform. The bank saw a 400% increase in the number of tranches traded in Q1 2023 year-on-year. Meanwhile, Banca myInsure has contributed towards a 360˚ conversation covering all life goals with the client and being able to take informed decisions at key stages during the planning process. This makes the entire engagement less transaction driven

and aids the Bank to stay ahead of any changing requirements. Standard Chartered Bank’s (China) launch of remote sales features in 2022 has deepened its outreach with customers in a key market particularly during the peak of the pandemic. The remote sales offering being predicated on a “digitalfirst” approach has consolidated the Bank’s digital interactions delivering clients an experience that is superior to branch based engagements. Effectively, SC China makes use of enhancements such as e-sign, fulfilments, closure of sale with a possibility of cross-sell based on client needs etc. leveraging the use of a secure and resilient platform. Through the platform, RMs can now better access the full list of their clients and filter or sort them based on a range of criteria. Within a month of the digital capability launch in Singapore, it has recorded a 78% adoption rate from RMs, and 60% of total instructions have been submitted digitally through the myRM platform. The tool can now be leveraged to request clients for secure, fast, and easy digital acceptance of orders. Standard Chartered in Singapore has also

launched an Online Mutual Funds (OMF) platform for mobile, which is not only its first wealth management direct-to-client application on the cloud but also forms a solid base for easily and efficiently scaling this platform to other markets. The OMF platform provides clients with a hassle-free experience end-to-end, along with a 360-degree view of their mutual fund portfolio and its performance, as well as the entire mutual funds offering at their fingertips. It is also entirely customisable, enabling businesses to tap into market opportunities with a significantly improved turnaround time. The OMF platform has recorded a 75% uptick in transactional volumes within the first three months of the launch, with platform costs down by double, and has also added new channels. Standard Chartered Bank is proud of the achievements it has made as it continually enhances its digital capabilities, wealth platform, offerings, and client experience. The bank’s enhanced advisory framework – SC Wealth Select, along with other proprietary tools, is helping Standard Chartered Bank’s clients to grow their wealth and deliver on their goals.

Standard Chartered Bank at the ABF Retail Banking Awards

ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 33

HEALTH AND WELLNESS INITIATIVE OF THE YEAR - SINGAPORE ANALYTICS INITIATIVE OF THE YEAR - SINGAPORE

UOB leads the way in being right by their customers Beyond banking services, UOB offers attractive wellness programmes for customers and improves their experience at branches via a data-driven customer feedback platform.

Wellness activities offered to customers with Wellness@UOB

OB was recognised for its dedication towards doing right by their customers, scoring wins for its unique and innovative industry-first wellness initiative, Wellness@UOB, as well as its real-time customer experience (CX) platform. Wellness@UOB, which clinched the Health and Wellness Initiative of the Year - Singapore, was launched in 2022 to imbue and enhance the banking customer experience with a focus on their holistic wellness. Beyond financial wellness, the initiative aims to support the physical, emotional, and mental wellness of customers, improve customer engagement and satisfaction, and build meaningful and longer-lasting relationships with them. This demonstrates UOB’s commitment to doing right by our customers to support them on the journey to achieve holistic wellness. Through this initiative, UOB collaborates closely with specialised and reputable partners in the wellness ecosystem to offer attractive wellness programmes and activities, including: an industry-first health screening service provided in bank branches; daily wellness activity booths offering complimentary services; monthly wellness events at the branches; and wellness surveys to collect insights on customers’ needs and interests, amongst others. UOB’s Wellness Initiatives A total of six UOB branches were

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the following initiatives: • Flexible Work Arrangements; • comprehensive medical care; • access to counselling hotlines; • wellness activities under the Bank’s ‘Mental Wellness Days’ programme; • shortened working hours on Fridays; and • an employee clubhouse in Singapore where colleagues may rest and bond with one another. Driven by its commitment towards improving customer experience at branches, UOB has also been collecting customer feedback via a real-time CX platform. Unique QR codes are available at each branch and visible at every counter and cubicle. Customers can scan the QR code, rate their branch experience, pay someone a compliment, or raise a complaint. From there, the branch receives customer feedback on their dashboard in real time. The feedback is then processed using data and text analytics to provide actionable summaries of the branch’s customer experience rating, identify areas for improvement, and determine how to ensure continual customer satisfaction. ABF Retail Banking Awards salutes exceptional industry leaders who have introduced cutting-edge products, services, and solutions that have made a positive impact on their customers.

transformed in 2022 to offer wellness spaces, activity booths, and events. This is part of UOB’s ongoing branch transformation to evolve bank branches beyond transactional locations to destinations for personalised services focused on customers’ holistic wellness. It also enhances the bank’s omnichannel approach by adding a personal touch to inperson interaction, in addition to the bank’s convenient digital touchpoints. At the same time, UOB has also created specialised roles for Wellness Advocates, who are bank employees specially trained to manage wellness programmes at UOB branches. Besides customers, UOB also cares for its own people by adopting a holistic wellness approach towards staff wellness, covering four Wellness Pillars – mental, physical, financial, and intellectual wellness. To help colleagues lead more fulfilling personal Benny Chan, Head of Channels (Singapore), and professional lives, Group Channels and Digitalisation, UOB colleagues get to enjoy

“Health, wealth and wellness are inextricably linked, and we have taken the lead in guiding our customers towards better financial, physical, emotional and mental health. Health is wealth, and the key to achieving both is through holistic wellness.” – Benny Chan, Head of Channels (Singapore), Group Channels and Digitalisation, UOB

Experience Wellness@UOB Beyond caring for the financial well-being of our customers, we also seek to empower them to take charge of their overall wellness. This is why we redefined banking with a suite of curated offerings designed to also support our customers on their journey towards better physical, mental and emotional wellness. Better wellness, better life with UOB. Scan to discover

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HEALTH AND WELLNESS INITIATIVE OF THE YEAR - SINGAPORE ANALYTICS INITIATIVE OF THE YEAR - SINGAPORE DOMESTIC RETAIL BANK OF THE YEAR - SINGAPORE BANKING FOR WOMEN INITIATIVE OF THE YEAR - SINGAPORE MOBILE BANKING & PAYMENT INITIATIVE OF THE YEAR - SINGAPORE FRAUD INITIATIVE OF THE YEAR - SINGAPORE DEBIT CARD INITIATIVE OF THE YEAR - SINGAPORE

Putting customers first is in UOB’s DNA

UOB is revolutionising banking with its commitment to an omnichannel experience, strategic acquisitions, and AI-driven personalisation.

OB’s leadership in Singapore is evident, as seen through its sustainable and stable financial performance that is positioned for continued long-term growth. This is reinforced by its marketleading performance and achievements led by its Cards, Wealth, Deposits and Secured Loans businesses. Just last year, UOB brought forth a sharpened brand purpose – to build the future of ASEAN, for the people and businesses within, and connecting with, ASEAN. The Bank rolled out a brand revitalisation campaign, reaffirming its brand promise and commitment to a truly personalised banking experience for customers via an omnichannel approach. An expanding franchise that gives customers more of what they love With the acquisition of Citigroup’s retail businesses in Indonesia, Thailand, Malaysia and Vietnam, UOB doubled its retail customer base. More importantly, this acquisition presented an immediate scale and opportunity as to how the bank can engage customers digitally. As part of the transition, UOB prioritised digital capability enhancements to facilitate a seamless and positive experience for the onboarding of Citigroup customers, most of whom are digitally active. Having an increased presence in the four key ASEAN markets has also paved the way for UOB’s enlarged base of customers across the region to enjoy even more perks and privileges suited to their unique lifestyles and needs via partnerships with renowned domestic and global brands. UOB cardholders in ASEAN can look forward to exciting cross-border offerings made possible through partnerships with top brands in travel, dining and retail across the region: New partnership highlights include a world-first partnership with foremost wine rating authority Robert Parker, where UOB cardholders in Singapore, Indonesia, Malaysia, Thailand and Vietnam can look forward to exclusive wine pairing dinners and gala dinners served by MICHELIN-starred chefs as well as curated wine masterclasses for different levels of connoisseurs. This is Robert Parker’s first-ever partnership with a financial institution, with its regional reach a pioneering approach for the company as well. This partnership furthers the Bank’s customer propositions in the dining space,

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a perfect complement to UOB’s earlier announced partnership with The MICHELIN Guide in Thailand and Malaysia. Following the announcement of its strategic partnership with local luxury purveyor Club 21 last year, UOB will be collaborating with Britain’s foremost designer Paul Smith in the latter’s first ever collaboration with a financial institution to elevate its offering in the lifestyle arena. Paul Smith’s signature designs will be reflected on merchandise exclusive to UOB cardholders in spend-and-get campaigns, and a chance to own a one-of- kind All-Electric MINI PS Bespoke edition car when they spend on UOB Cards. Just five of these MINIs in the world! Plus, UOB’s one-stop online travel portal, the Travel Insider, will bolster its range of curated deals offering more than 1,000 deals worldwide more tie-ups with major malls, duty free franchises and restaurant chains.

Leveraging AI and machine learning to drive customer centricity and personalisation The core of UOB’s omni-channel strategy is serving its clients based on how they prefer to be engaged. This means a greater anticipation of their needs and seeking out deeper insights to better understand their goals in order to help them achieve them. It also means putting customers first, giving them access to expert advice digitally 24/7 or in-person when they need it. Enabling this strategy is UOB TMRW, the Bank’s all-in-one banking app that is built around customers and their needs. UOB TMRW focuses on making banking simple and engaging for customers, whether they are applying for a credit card or savings account, investing or performing day to day transactions and payments. Delivering a truly personalised customer journey with relevant prompts and insights, UOB TMRW also gives customers access to Mighty FX, where they can get great exchange rates on foreign currency conversions for travel, online

shopping or investments.

Through the UOB TMRW app, customers get personalised AI-driven insights created around their transactional habits and preferences, offering them relevant recommendations and nudging them to make better financial decisions. Customers also get to enjoy UOB Rewards+, Singapore’s biggest cards rewards programme offering exclusive deals, cashback, coupons and rewards all year round. served through the UOB TMRW app. Besides being able to bank on the go, UOB TMRW app also gives customers access to UOB SimpleInvest, where they can choose from four curated portfolios based on various goals and risk appetites. Customers can also tap on insights and research from the UOB Private Bank Chief Investment Office (CIO) with the Income and Growth portfolios. UOB’s sustained commitment to our customers and markets for the long-term is evident in the numerous awards the Bank has won, several for consecutive years. These include the Asian Banking and Finance Awards 2023’s Domestic Retail Bank of the Year – Singapore (winner for five consecutive years), Banking for Women Initiative of the Year (winner for four consecutive years) and Mobile Banking and Payment Initiative for the Year – Singapore (winner for two consecutive years) featuring Singapore’s most-loved app, UOB TMRW. This commitment to continuously do right by the customer is what sets UOB apart, to be the Best Domestic Retail Bank in Singapore.

UOB’s leadership in Singapore is evident, as seen through its sustainable and stable financial performance that is positioned for continued longterm growth

ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 37

THAILAND INTERNATIONAL GREEN FINANCE INITIATIVE OF THE YEAR

UOB Thailand green financing drives market expansion for EV manufacturer Collaborative partnership demonstrates UOB’s leadership in sustainable trade finance solutions.

he public is now increasingly concerned about the environmental and social impact of how they live, work and play. They are also now paying attention to the impact of their investments, in addition to achieving financial returns. Moreover, investors are holding companies accountable for contributing to sustainable development, including mitigating negative environmental effects, and UOB Thailand supports sustainability initiatives ensuring social well-being. This is what UOB Thailand, Asia’s EVs in the country, both BYD, REVER and leading bank, has observed in the their local distributors are newly established past years and is where they direct a huge companies in the Thai market. This makes amount of their focus. In this regard, it has it difficult to raise capital and a challenge publicly indicated its commitment and for obtaining financing from the banks. targets. Furthermore, the launch of REVER’s market It has based its net zero targets on regional plan was only two months from the first pathways. Whilst being guided by the meeting with the bank and their distributors. science in setting targets and aligning with As such, they needed a bank that can global net zero models, the Bank has stayed ensure a smooth acquisition of REVER’s pragmatic and where possible, extracted distributorship and minimal disruption to regional pathways that represent the fair existing business model; sufficient financing contributions of its key markets. for both REVER and their distributors; and “Our sustainability journey aligns with a speed to market. clear roadmap and robust targets, and we take pride in engaging our stakeholders, Ensuring sustainable investing measuring our progress, and refining our approach to building a more sustainable practices is part of our fiduciary world for ourselves and future generations,” duty to our customers and we said Mr Tan Choon Hin, President and Chief will continue to roll out more Executive Officer at UOB Thailand. sustainable investment products Under this approach, UOB Thailand to our customers across the has developed a comprehensive suite region of sustainable finance frameworks for its wholesale banking clients. These UOB Thailand proposed a unique suite frameworks, which have been assured by of solutions to support REVER’s entry into trusted second-party opinion providers, the Thai EV market whilst addressing their are designed to support clients on their challenges and requirements. sustainability journey. Such strategy was Amongst these solutions include providing utilised in its partnership with electric vehicle a Letter of Credit and Trust Receipt facility (EV) manufacturer REVER Automotive to REVER to support the EV car import flow Company Limited, run by the third generation from BYD China; granting of a trade facility to of Siam Motor Group. each distributor to support the import flows of EV cards from REVER; and facilitating the Tailored Financial Solution handling of car registration documents such REVER has secured a five-year exclusive as tax invoice, vehicle registration document distributorship agreement with BYD Auto and receipts to streamline the process for Industry Company, one of the world’s largest REVER and distributors. producers of electric cars, to import them “By streamlining financial processes, to Thailand. This agreement grants REVER a optimising cash flow, and fostering high priority over other distributors in selling seamless distributor relationships, our BYD EV cars in the Thai market. solution not only meets REVER’s immediate Whilst Siam Motor Group’s entry into the financing requirements but also drives EV market suggests a promising future for

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sustainable growth for their business. UOB’s dedication to excellence and innovative approach is what distinguishes our solution,” said Mr Tan. Driving Sustainable Financing The financing solution improved REVER’s cash holdings and working capital efficiencies by monetising their receivables without using their own funds. Additionally, the programme supports the growth of REVER’s distributors by offering competitive financing packages, allowing them to access sufficient facilities to support REVER’s business growth with minimal disruptions. REVER Vice CEO Pratarnporn Phornprapha mentioned that UOB was one of their first supporters who shared their mission that the EV nation will begin. She commended the bank for covering the entire supply chain, including charging stations and other players involved in the market, which is essential to REVER. Outside of the partnership, UOB Thailand funded the promotion of EV in the Thai market under the Smart City framework with over THB3b. It has also led other sustainability projects such as supporting an electric utilities company with THB3.3b green bond, a wind farm company with THB2.7b, and a steel company with THB970m for solar portfolio finance. In 2022, it also launched an ESGthemed multi-asset fund, developed by a third-party product provider, in Thailand, Singapore and China. This fund enables retail customers to invest in various sustainability themes within a single product. “Ensuring sustainable investing practices is part of our fiduciary duty to our customers and we will continue to roll out more sustainable investment products to our customers across the region,” Mr Tan. The bank’s successful partnership with REVER was also recognised by ABF Wholesale Banking Awards 2023, as it bagged the Thailand International Green Finance Initiative of the Year. The prestigious awards programme honours banks and financial institutions that have demonstrated exceptional performance and have made significant contributions to the corporate and investment banking industry.

EMPLOYER AWARD OF THE YEAR - SILVER INTERNATIONAL RETAIL BANK OF THE YEAR - THAILAND

UOB expanded their consumer banking businesses to Thailand

Enhancing a Resilient Bank with One UOB UOB Thailand’s Emphasis on Unity in the Workforce

OB Thailand recently won the Employer Award of the Year - Silver Award and International Retail Bank of the Year - Thailand Award at the 2023 Asian Banking & Finance Retail Banking Awards. These accolades were primarily attributed to their recent acquisition of consumer banking businesses across four countries and their steadfast commitment to fortifying the One UOB philosophy In January 2022, UOB made a strategic move by acquiring Citigroup’s consumer banking businesses in four countries, including Thailand. This transition concluded in November 2022, with full integration anticipated to take place in 2024. One UOB Philosophy The acquisition significantly expanded UOB’s footprint in the ASEAN retail banking sector, augmenting its customer base to over 2.5 million individuals. With expanded touchpoints and various partner networks, UOB offers an extensive range of products, services and benefits to their growing clientele. Employing an omnichannel approach, UOB harnessed their enlarged base of customers and partner network to enhance accessibility, convenience and customer engagement However, this acquisition posed a

considerable integration challenge. The bank tackled this challenge by championing the One UOB philosophy through the UOB Way. This involved inspiring the shared purpose, embracing common core values and adhering to a unified people’s philosophy. UOB achieved this through HR-arranged sessions, equipping senior management and people managers to fulfil their roles and confidently communicate with their teams.

The bank’s dedication to the One UOB philosophy, coupled with strategic decision-making, positions them on the path to becoming the preeminent bank in employee pride Seamless integration drives productivity success In a collaborative effort, ensuring the seamless integration of their employees and customers took precedence. At the country level, the Bank set up numerous workstreams meticulously designed to ensure hassle-free transition for both customers and employees. What this process entails is a stark focus on organisation and benefit alignment, employee integration, and the design of change management and onboarding

procedures. By addressing the anxieties related to job security during integration, the Bank succeeded in maintaining a high level of productivity and performance. Thanks to these efforts, the observed attrition rate after integration was significantly less than the market average. Consistent communication and regular meetings between the regional office and country management provided employees with assurances, accountability and updates regarding progress, milestones, project timelines and the bank’s direction. Feedback-driven employee excellence Aside from the new town hall series, a post-town hall survey allowed employees to voice their concerns and questions which were compiled in an FAQ package accessible to everyone As one of the Asia’s leading banks, UOB Thailand prides itself as one of the best employers in the industry. Through a relentless focus on gathering feedback and making necessary adjustments to initiatives, the bank has successfully elevated employee experience, directly translating to a significant improvement in overall performance. Facing the formidable challenge of integration head-on, UOB Thailand continues its journey towards building superior employee experiences and engagement. The Bank’s dedication to the One UOB philosophy, coupled with strategic decision-making, positions them on the path to becoming the preeminent bank in employee pride. ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 39

INTERNATIONAL RETAIL BANK OF THE YEAR - MAINLAND CHINA AI & MACHINE LEARNING INITIATIVE OF THE YEAR - MAINLAND CHINA

HSBC offers holistic wealth management approach to tap the mainland China wealth market HSBC is committed to contributing to the development of China’s wealth management industry by sharing its global wealth expertise and best practices, and by developing talents.

SBC’s achievements in mainland China across the Group’s wealth businesses are shaped by the strengths of its comprehensive wealth management matrix integrating the channels, products, services and technology of HSBC subsidiaries which bring more value to customers. To accelerate expansion of HSBC’s wealth business in mainland China, HSBC Bank (China) Company Limited (HSBC China) announced in October that it has entered into an agreement to acquire Citi’ s retail wealth management portfolio in mainland China. The portfolio comprises c.US$3.6bn in assets and deposits (as of August 2023), and the associated wealth customers across 11 major cities. HSBC’s Milestones in China HSBC has pursued a combination of organic and inorganic initiatives to scale up its capabilities and deepen coverage of its mainland China wealth customers, with a particular focus on the affluent and emerging affluent sectors. These include the acquisition of the remaining 50% stake in HSBC Life China for full ownership, the launch of Global Private Banking across six cities in mainland China, and the ongoing buildout of a team of more than 1,400 Pinnacle mobile wealth planners. Earlier this year, HSBC became the first financial institution in mainland China to hold licences for both insurance brokerage and fund sales to capture opportunities in China’s RMB 28.8trillion1 market. Trista Sun, Head of Wealth and Personal Banking, HSBC China, said: “China’s wealth market remained resilient, recording an average annual growth rate of 9.8% over 2018-20222. The short term market volatility and industry adjustment have triggered many Chinese wealth owners and investors to rethink their future portfolio management strategy, recognising the importance of risk management and benefits of asset diversification.” HSBC China has been recognised for its outstanding achievements and leadership in mainland China’s wealth market, winning the International Retail Bank of the Year for the seventh time consecutively from the ABF Retail Banking Awards. Since HSBC China expanded its Global

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HSBC continues to empower its capabilities with technology like AI and machine learning to take client services and conversations to a new level Private Banking business in May 2022, the HNW segment focused business has extended footprint to six Mainland cities, added more than 100 staff, and established key proposition pillars, including legacy planning services covering family trust advisory, risk planning, education and philanthropy advisory collaborating with

Trista Sun, Head of Wealth and Personal Banking, HSBC China

partners. Under HSBC’s Premier 3.0, the bank introduced the Premier Elite service platform, catering to high-value customers with exclusive wealth management services.

mindset, the bank launched the new International 3.0 proposition in March to connect Chinese customers with more international opportunities, and continue to enhance HSBC International Education Services to better support Chinese families with international education pursuit. At the digital front, HSBC continues to empower its capabilities with technology like AI and machine learning to take client services and conversations to a new level. The bank has developed new tools and system to assist relationship managers in identifying and fulfilling customer needs more efficiently. HSBC’s commitment to digital empowerment is also evident through the adoption of mobile app, enabling a full array of transactional banking and investment activities for private banking and wealth clients in the tech savvy market. HSBC China has won the AI & Machine Learning Initiative of the Year at the ABF Retail Banking Awards 2023, highlighting its commitment to innovation and exceptional contributions to China’s banking landscape.China’s wealth management is a significant long-term growth opportunity for financial institutions. For the entire wealth management industry, including brokers and mutual fund managers, the total Assets Under Management already exceed RMB 100 trillion – about the same size as China’s GDP in 20203. It presents massive opportunities for global wealth managers. HSBC is consolidating its deep roots here through continued investments across the wide range of financial services.

International Expansion and Wealth Offerings The bank’s international network, connectivity, and capabilities in wealth management solutions enable it to offer exclusive crossborder services opportunities to international customers. To create more value for retail customers with international According to Asset Management Association of China, the total asset under management of mutual funds in mainland China was RMB28.8 trillion, as of end of July 2023. GlobalData’s Wealth Markets Analytics 3 The Rise of Asian Wealth, HSBC Global Research (August 2022) 1

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ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 41

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ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 45

INDONESIA DOMESTIC CASH MANAGEMENT BANK OF THE YEAR

Maximising wholesale transactions by providing an integrated digital super platform Kopra by Mandiri Bank Mandiri has harnessed digital technology’s transformative potential to meet Indonesia’s surging demand for financial services.

The Kopra Mobile application encourages productivity regardless of location

igital financial services have had a substantial impact on Indonesia, combining with the existing mobile phone and internet usage to meet the country’s increasing appetite for financial services. Digital technology will continue to transform the banking landscape in Indonesia. Bank Mandiri is fully aware that digital transformation has become one of the most discussed topics amongst business leaders and experts. This is due to the fact that COVID-19 has forced people to reduce physical mobility to prevent infection by the virus and shift to digital solutions for customers. Even after the pandemic has shown a significant recovery, people are still leaning towards digitalisation, which shows that digital solutions have been an inseparable factor for customers. Bank Mandiri consistently provides comprehensive solutions for all aspects of the wholesale customer’s business ecosystem that includes trade, payment, collection, liquidity, and value chain financing. To respond to the need for digital transformation in customer’s business processes, in 2021, Bank Mandiri launched Kopra by Mandiri, a digital super platform for business owners and corporations to conduct their business activities seamlessly. Bank Mandiri’s commitment to providing customers with innovative solutions and services is proven by its recognition as the Indonesia Domestic Cash

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Management Bank of the Year at the ABF Wholesale Banking Awards 2023. Transforming banking solutions seamlessly Kopra by Mandiri offers three solution variants, which are Kopra Portal, Kopra Host to Host, and Kopra Partnership. As of June 2023, Kopra by Mandiri has been used by ~123,000 customers with more than USD 615 billion transactions value and 497 million transactions volume. “Kopra Portal is a web-based and application-based solution of Kopra by Mandiri that is designed to make seamless access for customers to access their transaction banking needs from cash management [to] trade financing, supply chain management, and many [others] through one single access,” said Dini Isnarti, Senior Vice President of Bank Mandiri. Enhancing business mobility with Kopra Mobile App Considering the increasing physical mobility of customers, who are more actively moving from one place to another, the ability to use devices such as computers or laptops is limited. This condition sparked the idea to provide a solution for customers where they

could easily transact without having to worry that their financial activities would be delayed. The Kopra Mobile Application is presented to answer this situation. Kopra Mobile Application is a mobile version of Bank Mandiri’s Wholesale Digital Super Platform that was launched in October 2022. It comes with various features for customers, such as a consolidated financial dashboard, cash management transaction approval combined with an authentication device through Mandiri Mobile Token, and a validity check of bank guarantee issued by Bank Mandiri. “This application allows existing Kopra users to enjoy easy access and seamless experience in conducting their business anytime and anywhere in one hand so that they can always be productive on the go,” added Dini. Ultimately, through Kopra Mobile Application, Bank Mandiri encourages its customers to always be productive wherever they are, so they can experience the ease and simplicity of accessing their business activities through the Kopra Mobile Application without any obstacles.

Bank Mandiri consistently provides comprehensive solutions for all aspects of the wholesale customer’s business ecosystem that includes trade, payment, collection, liquidity, and value chain financing

BRANCH INNOVATION OF THE YEAR - SILVER TAIWAN DOMESTIC MOBILE APP INITIATIVE OF THE YEAR AI & MACHINE LEARNING INITIATIVE OF THE YEAR - TAIWAN MOBILE BANKING & PAYMENT INITIATIVE OF THE YEAR - TAIWAN ANALYTICS INITIATIVE OF THE YEAR - TAIWAN

Bank SinoPac spearheads digital transformation and embraces diversity in the banking industry Bank SinoPac stands out as it introduced a wave of digital advancements reshaping banking experiences.

ross-regional overview and multicurrency integration The easy APP is the best solution for Banks SinoPac’s customers to easily manage their cross-border assets with just one application. Upon logging into the easy APP, customers can view their total balance of savings and fixed deposits in various currencies, exchange rates for different currencies, and relevant account information for different regions. Additionally, the bank provides multi-currency designated transfer and non-designated transfer functions that can be easily verified through biometric identification. To enhance users experience, easy APP supports four languages and a brief search function to minimise missing transactions. In the future, easy APP will launch an online account opening and online loan function in Vietnam. By downloading an easy APP and having the necessary documents ready, customers can enjoy a wide range of convenient financial services provided by Bank SinoPac. DACARD app stands for Daily App Creating Amazing Rich Delights DACARD app is expected to be the leading app in the market in terms of bill payment services and credit card management. To solve customers’ pain points in the bills payment experience, the DACARD app is the first app which integrates two major platforms, FISC and EFCS, to offer more than 50 items of utility bills. DACARD app creates a convenient one-stop service for customers to deal with bill payments. To offer abundant credit card transaction functions, the DACARD app has classified credit cards information clearly and individually. To increase the flexibility of credit card usage, users can apply for consumption, bill installment, and credit limit adjustment through the DACARD app. Besides billing and card service, DACARD app will join the Taiwan Pay service of FISC, which is one of the biggest electronic payment apps in Taiwan, in the third quarter of 2023. To provide more convenient e-payment services where customers can scan the QR code and pay the life consumption payment quickly. As a result, all daily expenses of customers can be closely connected with DACARD app. Win-win situation for DAWHO and customers Bank SinoPac’s digital account DAWHO

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has transformed the way customers find information and interact with their banks by leveraging predictive models such as product recommendation, high-contribution customers predict, and customer churn predict models. The bank’s approach provides personalised recommendations for products and services that cater to each customer’s unique needs without bombarding them with excessive advertisements. Additionally, DAWHO can predict future customer value, consumption behaviour, and potential loss, which allows DAWHO to develop exclusive marketing and customer retention strategies for different customer segments. DAWHO speeds up the marketing process by 40% and increases the accuracy rate by more than 1.86 times. Whilst improving marketing accuracy, it also reduces communication costs and achieves a win-win situation for the bank and customers. M360 - Automated Marketing Management System To effectively process customer data and improve marketing efficiency, Bank SinoPac has established an automated marketing management system called the M360 system, which means 360-degree comprehensive marketing. The M360 system links the management mechanisms in stages such as data collection, Artificial Intelligence (AI) model assistance, list distribution, and performance tracking to form a marketing control centre. The M360 system helps to extract more valuable data and improve marketing efficiency, thereby achieving better marketing results. Through the M360 system, customers can receive more accurate marketing messages,

increasing their willingness to participate in marketing and improving their satisfaction with consumption. The automated workflow process also enables marketing personnel to focus more on developing and optimising marketing strategies. M360 not only significantly reduces manual working hours and improves marketing results but also lowers costs and increases marketing ROI. Bank SinoPac firmly believes that with the support of the M360 system, it will be better equipped to address market challenges, elevate customer satisfaction, and increase its market share. Flip your palms, embrace a better life Bank SinoPac is committed to providing customers with the best experience and enhancing internal controls through digital solutions. Its palm vein recognition feature won the Branch Innovation of the Year Silver Award at this year’s Asian Banking Finance Awards. The palm vein can replace signatures, seals, and financial cards with high-precision recognition. It allows customers to complete documentation at the branch counter in just 10 seconds by using palm vein verification, resulting in increasing counter efficiency by 85%. Furthermore, customers can also perform withdrawals, transfers, as well as balance inquiries at ATMs equipped with palm vein recognition, ensuring both security and convenience. Moreover, Bank SinoPac has integrated palm vein recognition into the internal management authorisation process, simplifying the complex process of entering four combinations of passwords and strengthening internal control mechanisms.

The bank’s approach provides personalised recommendations for products and services that cater to each customer’s unique needs

Bank SinoPac team at the Asian Banking & Finance Awards

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Cebuana Lhuillier Bank bridging financial gap through revolutionary banking The Philippines’ most dynamic rural bank continues its commitment to financial inclusion as it enters its 25th year

The bank won in the Rural/Cooperative Bank of the Year category

ata from the Bangko Sentral ng Pilipinas (BSP) showed that there are more than 15 million account holders in the Philippines by the end of 2022, with 42% of these accounts under Cebuana Lhuiller Bank’s revolutionary Micro Savings product. Similarly, Micro Savings accounts for 33% of the total deposit liability of PHP11.96B. Since its launch in 2019, this product has transformed the savings landscape for Filipinos, providing accessible and convenient saving options. In collaboration with its parent company, Cebuana Lhuillier, the Bank identified and addressed usual barriers to saving through the micro-savings product. The launch of this product marked the beginning of Cebuana Lhuillier Bank’s journey toward becoming a leading innovator in rural banking. Starting in Cavite, the bank now has 6 branches

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across the country including Calatagan, Cebu, Davao, Makati City, and Nasugbu. In addition, more than seven million account holders have taken their first step towards financial security. Innovative Banking for Every Filipino Jean Henri Lhuillier, Cebuana Lhuillier Bank Vice Chairman and Cebuana Lhuillier President & CEO, underscores the bank’s growth serves as a win towards financial inclusion. He notes, “The origins of the bank can be traced to our desire to provide reliable and convenient access to micro financial services that best speak to the needs of every Filipino, especially those with limited access to their financial needs. As the bank continued its way to be one of the most innovative in the banking industry, all these innovations were done with our Ka-Cebuanas in mind.” Dennis Valdes, President of Cebuana

Lhuillier Bank, champions the bank’s bullish approach as a modern rural bank that constantly pushes the envelope in the local rural banking industry. “Cebuana Lhuillier Bank has been at the forefront of pushing for financial inclusion amongst our kababayans, especially in rural communities and far-flung locations in the Philippines,” said Valdes. “Because we believe that the first step towards financial inclusion is ensuring that every Filipino should have the means to safe and accessible banking, we started our push with Cebuana Lhuillier Micro Savings and by making use of a cash agency partner that gives us a significant and reliable footprint nationwide.” As the Bank enters its 25th year, it stays focused on its bullish outlook in changing the way it delivers its services to Filipinos, especially those with limited

RURAL/COOPERATIVE BANK OF THE YEAR - PHILIPPINES

Cebuana Lhuillier Bank has been at the forefront of pushing for financial inclusion amongst our kababayans, especially in rural communities and far-flung locations in the Philippines means, and push them towards their own means to be financially included. A Legacy of Trust and Accessibility in Banking Cebuana Lhuillier Bank has achieved various digital milestones that enhance its services and reach. These include the introduction of the eCebuana app, enabling smooth online money transfers. Partnering with BancNet, UnionPay, Instapay, and PesoNet has expanded the bank’s card network and enhanced online fund transfers. The bank also embraced QR technology, after being tapped by BSP for the pilot launch of QR PH in 2022. Additionally, the introduction of the Teachers Loan product demonstrates the bank’s efforts to diversify its offerings, catering to the financial needs of the Department of Education personnel.

“The journey of the bank towards being an industry leader for financial inclusion does not stop with the wins we have accumulated in the past. Winning and setting milestones are good, but as a bank, we are working on our legacy of being the partner of choice for the ordinary Filipinos are looking for other more accessible options to save,” Valdes added. Cebuana Lhuillier Bank’s achievements have been recognised in the local and international banking industry, with three consecutive wins from 2021 to 2023 as Rural/Cooperative Bank of the Year at the Asian Banking & Finance (ABF) Awards. This recognition, alongside their innovative micro savings product and technology-driven customer service, gained them recognition and trust from the BSP and solidified their reputation as an industry leader.

Dennis Valdes, President, Cebuana Lhuillier Bank

Dennis Valdes, President, Cebuana Bank wins at the Asian Banking & Finance Awards Cebuana Lhuillier Bank bags threeLhuillier consecutive

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UAE DOMESTIC ONLINE BANKING INITIATIVE OF THE YEAR

United Arab Bank (UAB) wins the Asian Banking & Finance Wholesale Banking Award United Arab Bank (UAB) achieves a remarkable milestone by winning the esteemed ‘UAE Domestic Online Banking Initiative of the Year Award’ at a special ceremony held in Singapore. effortlessly from anywhere, at any time. The platform’s all-inclusive Account Management tools allow customers with a holistic perspective to monitor their trade limit utilisation and customise reports for enhanced financial insights. Additionally, UAB Trading Services enable seamless transaction management without the need to visit a physical branch, thus ensuring ease and efficiency for their esteemed clients. Furthermore, the bank takes immense pride in providing a comprehensive array of trade products, encompassing Documentary Letters of Credit, Bank Guarantees, Financing against Trust Receipts, and Documentary Collections. These offerings are designed to effectively address the diverse and evolving needs of their esteemed customers.

United Arab Bank CEO Shirish Bhide

he achievement of UAB in winning this prestigious award stands as a testament to the remarkable progress made in the realm of digital banking. Spearheaded by the CEO Shirish Bhide and driven by the dedicated team at UAB, this journey towards innovative banking solutions has reached new heights, with the recent recognition further attesting to their commitment to excellence. UAB’s journey into digital banking was honored with the esteemed award, reflecting the culmination of hard work and dedication of the entire team. This honor underscores the bank’s unwavering dedication to its relentless pursuit of providing cutting-edge solutions to its esteemed customers. The UAB Trade Online Banking Platform has revolutionised the way their customers manage their financial activities, offering unparalleled convenience and security. With a wide range of exceptional features and products, this platform empowers their customers to take charge of their finances

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Commitment to Innovation and CustomerCentricity Commenting on the Bank’s achievement, CEO at United Arab Bank, Shirish Bhide, stated, “This recognition underscores our unwavering commitment to innovation, customer-centricity, and technological excellence. At UAB, we firmly believe that digital transformation is not just a strategic choice but an essential element in today’s rapidly evolving financial landscape. Our award-winning Trade Online Banking Platform is a testament to our relentless pursuit of providing cutting-edge solutions that empower our clients to seamlessly navigate the complexities of global trade. As we move forward, we remain committed to delivering innovative solutions that elevate the banking experience, fuel economic progress, and contribute to the prosperity of the UAE and beyond.” He added, “Customer service lies at the heart of all of our initiatives. Awards such as this motivate us to keep enhancing our products and services and providing our customers with more innovative solutions.”

The UAB’s Chief Executive acknowledges that this prestigious award would not have been possible without the unwavering trust and continued support of the bank’s esteemed customers. Their loyalty and engagement have been instrumental in inspiring the team to continually exceed expectations and deliver exceptional banking experiences. We would also like to thank our dedicated employees for their exceptional work and our shareholders and board for their continued support. Fostering Innovation and Creativity at UAB In a short span of time, under Shirish Bhide’s leadership, UAB has firmly established itself as a leading solutions provider for the growing commercial and industrial bases across the seven emirates of the UAE. With a comprehensive range of Wholesale and Retail Banking, Trade Finance, Islamic Banking, and Treasury services, the bank is moving forward to be the preferred choice among major corporate clientele. The bank succeeded to foster a collaborative work environment that cultivates creativity and promotes innovative thinking. This culture has empowered the team to transcend conventional limits, paving the way for pioneering solutions that cater to the diverse needs of the bank’s clientele. Since its establishment in the UAE in 1975, United Arab Bank (UAB) has grown to operate across all Emirates of UAE, providing tailor-made financial services in both Wholesale and Retail Banking. The bank’s exclusive products, such as Documentary Letter of Credit, Bank Guarantee, Finance Against Trust Receipt, and Documentary Collection, cater to the diverse needs of customers, further solidifying its position as a customercentric financial institution.

At UAB, we firmly believe that digital transformation is not just a strategic choice but an essential element in today’s rapidly evolving financial landscape

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SINGAPORE INTERNATIONAL SME PARTNERSHIP INITIATIVE BANK OF THE YEAR SINGAPORE INTERNATIONAL CASH MANAGEMENT BANK OF THE YEAR

5 Key Factors to Consider When Choosing Your Business Bank Account CIMB explores the selection process for finding the perfect companions in the long run.

s an entrepreneur or business leader, you’re taking an idea, a dream, and working to bring it to life, and that is commendable in itself. But to transform this vision into a thriving business, you need a strong financial foundation – and that starts with choosing the right bank account for your company. CIMB shares considerations in choosing the right bank for your company In this article, we explore five key considerations when opening a business bank level. account in Singapore, and how CIMB’s • Fall-below fee: If your balance dips award-winning solutions can be the perfect below a stipulated minimum level set by companions in the long run. the bank, you might incur this fee. • Telegraphic Transfer (TT) fee: For 1. BANK’S REPUTATION businesses involved in international Business banking, due to its intricate nature, trade or operations, this fee, charged often requires a more comprehensive for transmitting money between banks support system. Banks that have built a good across borders, is especially crucial. standing likely possess the experience to • Fast And Secure Transfers (FAST): address customer inquiries efficiently and Ensure you’re aware of any charges professionally. associated with real-time intra-country Furthermore, banks that have built a bank transfers. respectable presence often strive to keep up with the evolving commercial landscape. CIMB goes beyond the traditional They remain attuned to the changing needs from customers and the business sector, scope of banking by providing innovating their offerings accordingly. businesses with value-added 2. INTEREST-BEARING FEATURE services An interest-bearing business bank account is more than a repository for your company’s earnings; it’s an opportunity for your funds • PAYNOW: This fee pertains to instant to grow. transfers using mobile numbers or Over time, interest on their balance can unique identification numbers within the accumulate into a substantial sum, serving same country. as an additional revenue stream that can • General Interbank Recurring Order be reinvested in the company or act as a (GIRO): A charge for setting up or making financial buffer during challenging periods. regular, automated bill payments to However, it is vital to balance the benefits service providers. of interest earnings against any associated 4. TRANSACTION AND WITHDRAWAL fees and account requirements. An account LIMITS with high-interest rates but stringent Transaction limits can also apply to various conditions or high fees might negate the types of transactions, including FAST, GIRO, advantages. Payroll processing, and TT. 3. FEES For businesses with high transaction Common fees associated with a business volumes, the limits and fees can have a bank account can vary, but they are a critical significant impact. If your business regularly aspect to consider when choosing where to sends large payments, being constrained manage your money. Here are the common by transaction limits could slow down your fees that you should look out for: operations, delay payments to suppliers, or • Monthly fee: This is a standard charge disrupt your cash flow management. that banks impose on your account 5. ADDITIONAL BENEFITS every month, irrespective of your usage With the above considered, any extra benefits

54 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

can be the final deciding factor when zeroing in on your choice of business bank account. Take a look at the following examples provided by CIMB: • SGD-MYR exchange rate CIMB offers a guarantee of the best exchange rates for SGD to MYR transactions. This feature is not just a cost-saving measure; it brings predictability and stability to your international transactions, allowing you to plan your finances more effectively. • Beyond banking CIMB goes beyond the traditional scope of banking by providing businesses with valueadded services in accounting, taxation, financial reporting, digital consultancy, and more. These offerings allow business owners to access a network of industry experts and consultants through CIMB’s partnerships. • Shariah-compliant option The phrase ‘Shariah-compliant’ in Islamic Finance indicates that a financial offering or service aligns with the principles of Shariah (Islamic Law). At CIMB Bank, we understand the diverse needs and requirements of businesses regionally, and we provide Shariah-compliant options to ensure business continuity yet complying with Islamic ethical standards. OPEN YOUR BUSINESS BANK ACCOUNT WITH CIMB We invite you to explore how our business bank accounts can become integral tools in your company’s success story. Apply online on cimb.sg/sme-abf or scan the QR code to open your business bank account today.

Deposit Insurance Scheme Singapore dollar deposits of non-bank depositors, and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme, are insured by the Singapore Deposit Insurance Corporation for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

CIMB BUSINESS BANKING

We make what matters to you most, simpler. Which is why we curate products such as our CIMB BusinessGo current account, where you can earn 2.88%* p.a. on your entire deposit balances and pay zero* fees for Telegraphic Transfers worldwide. All this while connecting you to our exclusive partners' services that go beyond banking to help move your business forward.

MOVING FORWARD WITH YOU * T&Cs apply. SGD Deposits are insured up to S$75k by SDIC. CIMB Bank Berhad 197201001799 (13491-P)

ASIAN BANKING & FINANCE | Q4 2023 55

NEW CONSUMER LENDING PRODUCT OF THE YEAR - MALAYSIA FINANCIAL INCLUSION INITIATIVE OF THE YEAR - MALAYSIA

Alliance Bank revolutionises SME banking for the future with digital solution Alliance Digital SME has completely redefined the SME customer experience by replacing traditional branch interactions with a cutting-edge digital platform.

mbracing digital solutions for banking transactions has ushered in a new era of convenience, efficiency, and empowerment for customers. By seamlessly integrating technology into everyday financial activities, banks have empowered individuals and businesses to transact, manage accounts, and access services from the comfort of their devices. This digital revolution has not only eradicated geographical barriers but has also streamlined processes, reduced wait times, and enhanced security. With user-friendly interfaces, real-time accessibility, and robust security measures, digital banking solutions have unlocked unparalleled ease and accessibility, shaping a future where banking adapts to people’s lives, not the other way around. In a world where convenience and efficiency reign supreme, Alliance Bank has stepped forward as a pioneer in transforming the SME banking landscape with its remarkable initiative - Alliance Digital SME. Recognised with the Financial Inclusion Initiative of the Year - Malaysia award at the Asian Banking & Finance Retail Banking Awards 2023, this groundbreaking platform has redefined the SME customer experience, providing unmatched convenience, security, and personalised support. Elevating SME banking through digital innovation Alliance Digital SME has ushered in a new era of SME banking by seamlessly transitioning traditional face-to-face interactions with relationship managers to a state-of-the-art digital platform. The motivation behind shifting transactions to Alliance Digital SME came as the bank wanted to provide a safe and secure way for SME clients to fulfil their banking needs remotely during the COVID-19

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pandemic. “The impact of this shift has been significant. Today, 96% of all banking customers that used to be done over the counter are now done digitally. This has allowed customers to have the flexibility to apply for a digital loan anytime, anywhere via their mobile device,” the firm noted. Amidst the shift to digital, relationship managers still continue to provide assistance so that customers can receive personalised support. This paradigm shift has empowered SME customers to perform their banking transactions with unprecedented ease, eradicating the need for physical branch visits. The bank’s maxim of “bringing the bank to you” has been fully realised, with customers now able to engage in secure banking activities at their fingertips.

Alliance Digital SME has redefined the landscape of SME banking by blending technology and personalised service in an unprecedented manner One of the key features of Alliance Digital SME is its virtual interview feature, which enables remote video calls for comprehensive assessments of digital loan applications. Gone are the days of waiting in queues and navigating complex paperwork; SME customers can now apply for loans anytime, anywhere, directly from their mobile devices. This digital transformation not only provides unparalleled convenience but also streamlines the loan application process, accelerating business growth opportunities. Alliance Bank reiterates its commitment to safety and security, having meticulously incorporated robust measures to ensure the integrity of customer interactions and compliance procedures during remote video calls. A secure and encrypted video conferencing platform adhering to stringent industry standards guarantees

the protection of sensitive customer information. Multi-factor authentication, consent and disclosure processes, data privacy protocols, and regular security assessments also combine to create a strong shield against unauthorised access and fraud attempts. Maintaining the human touch In a world where digital transformation can sometimes feel cold and impersonal, Alliance Bank has preserved the invaluable role of Relationship Managers in its Digital SME services. By assigning dedicated Relationship Managers to each customer, virtual interviews and site visits for account openings are seamlessly facilitated via tablet. This ensures that the human connection remains intact, elevating the customer experience, all without having the customer go to a physical branch. Alliance Bank’s commitment to customer-centricity also shines through its support for SMEs. By embedding compliance procedures, risk profiling, and customer checks into the remote video call and visit journey, the bank safeguards a safe and secure banking environment. This empowerment enables entrepreneurs to dedicate their time to what truly matters. Alliance Digital SME has redefined the landscape of SME banking by blending technology and personalised service in an unprecedented manner. The shift from traditional banking methods to a digitised platform has not only elevated the customer experience but also empowered businesses to flourish in a fast-paced world. Integrating technology into banking transactions offers unprecedented convenience, efficiency, and empowerment. As a recipient of the Financial Inclusion Initiative of the Year - Malaysia award at the Asian Banking & Finance Retail Banking Awards 2023, Alliance Bank is at the forefront of redefining SME banking. Its innovative approach blends technology and personalised service to shape a brighter and more inclusive banking landscape, fostering a more efficient and enriching relationship between customers and their financial institutions.

ASIAN BANKING & FINANCE | Q4 2023 57

SME BANK OF THE YEAR - MALAYSIA

Taking Ownership of Customers’ Growth Key to Hong Leong Bank’s SME Banking Strategy HLB’s commitment to SMEs and strong growth in its loan portfolio were recognised by Asian Banking & Finance.

n 2021, Small and Medium-sized Enterprises (SME) contributed to 37.4% of Malaysia’s GDP, amounting to a total value-add of RM518.1b. In the future, SMEs will remain vital for driving the economy. To ensure their longevity and economic growth, financial institutions must foster strong partnerships and support SMEs. In line with this, Hong Leong Bank’s (HLB or the Bank) continuous dedication to growing and supporting SMEs in Malaysia has recently led the Bank to be named SME Bank of the Year by Asian Banking & Finance (ABF) at the recent Retail Banking Awards 2023 for the second consecutive year. Seamless Banking Experience HLB’s win is a testament to its dedicated focus on SME banking. In the past financial year, the Bank has seen its overall SME loan/ financing portfolio grow 16% year-on-year (YoY) to RM30.1b, attributed to its strong commitment to deploying new technologies to provide customers with a seamless banking experience. Kevin Lam, Group Managing Director and CEO of HLB commented that the award reflected the Bank’s commitment to a customer-centric, community-focused strategy, one that compels the Bank to take ownership of its customers’ growth and development. “We are truly honoured to be acknowledged by Asian Banking & Finance, which reaffirms our steadfast commitment to embed ourselves in the business ecosystem and be valuable partners to our SME customers. At HLB, we believe

Kevin Lam, Group Managing Director & CEO of HLB

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HLB representatives were present to receive their award at the Retail Banking Awards 2023. (From left: Andy Yeoh, Head of Sales and Business Development, SME Banking; Kevin Ng, Head of SME Banking; Daniel Mun Kok Leong, Head of SME Business Transformation)

that everything we do revolves around the customer, remaining true to our “Built Around You” brand promise. We see our customers’ success as a reflection of our own growth, and we strive to not only provide personalised support to SMEs, but also take ownership of their development.”

At HLB, we believe that everything we do revolves around the customer, remaining true to our “Built Around You” brand promise

Building Strong Partnerships HLB’s strong and mutually beneficial relationships with SMEs are evident through successful collaborations with key players in various industries. Notably, its partnership with the Malaysia Motorcycle & Scooter Dealers Association (MMSDA) stands out. Together, they established the Motorcycle Dealers Programme (MDP), a tailored financial program that provides up to RM5m of clean working capital financing for Auto Loan Packages and digital business solutions. Since its inception, the MDP has welcomed 240 dealers, and over the past 3 years, it has grown impressively by 25%, from RM113m to RM449m in value. By May 2022, the program’s total loans reached RM591m, marking an exceptional 150% increase. Kevin Ng, Head of SME Banking at HLB commented on the Bank’s commitment to

building long-lasting partnerships and providing support to SMEs. “As a bank with a strong entrepreneurship heritage, we take pride in having a deep understanding and insight into the challenges that SMEs face in growing their business, thanks in part to a strong team of Community Business Managers (CBM) and Cash, Trade & FX (CTFX) specialists embedded among the SME business community nationwide. We believe that as a financial institution, we are in a prime position to partner with our SME customers in futureproofing their operations with innovation, sustainability, and a comprehensive expansion blueprint”. Strengthening the SME Ecosystem Besides that, HLB collaborates with industry partners like SME Association of Malaysia (SME Malaysia) and the Small and Medium Enterprises Association (SAMENTA) to provide SMEs with business knowledge, networking opportunities, and innovative solutions. HLB maintains a longstanding partnership with SME Malaysia, actively participating in their nationwide roadshows to promote digitalisation and SME banking services throughout the country. Most recently, the Bank also hosted an exclusive edition of the HLB Sustainability Roundtable in collaboration with SAMENTA, where industry experts gave their insights and advice on implementing green supply chains and other ESG considerations into SME operations.

ASIAN BANKING & FINANCE | Q4 2023 59

SERVICE INNOVATION OF THE YEAR - MYANMAR

Empowering Myanmar with Shwe Bank’s Premier service and transformative path Committed to excellence and expansion, the bank aspires to triple assets and solidify its position as a trusted and leading institution in Myanmar’s banking landscape.

Moo Sun, CEO of Shwe Bank

hwe Bank began its journey on 11 January 2016, evolving significantly from a traditional bank to a globalstandard institution within two years, transforming its structure, culture, and operations. Supported by shareholders and guided by its board, the bank is poised to excel and serve Myanmar. The bank prioritises rural and suburban areas, offering tailor-made services to a diverse customer base. It underscores good governance, efficient service delivery, international standards, and a strong focus on digitalisation and sustainability. In its business operations, it places the utmost emphasis on the following: Good governance, prioritising effective governance practices to ensure transparency, accountability, and responsible decisionmaking; Quick turnaround and great service, committed to delivering efficient service with a service-level agreement (SLA) and maintaining high levels of customer satisfaction; International business practices, adopting international best practices to enhance the quality of its operations and services; and Digitalisation and Sustainability, as operations are characterised by a strong focus on digitalisation, sustainability, and building trust amongst all stakeholders. Shwe Bank’s Premier Banking Shwe Bank proudly introduces its Premier

Banking Service, launched in Yangon, Myanmar on 26 October 2022. Despite the challenges posed by the macroeconomic landscape, Shwe Bank made the bold decision to establish this service as a crucial customer retention strategy and a stepping stone towards future wealth management offerings. Reserved exclusively for highly valued customers, Shwe Bank’s Premier Banking delivers a personalised experience built on trust, understanding, and enhanced relationship management. Its goal is to help the bank’s customers achieve their financial aspirations. The principles that define Shwe Bank’s premier banking service are as follows: Tailored attention is provided to each premier customer, addressing their unique needs and financial goals. Aiming for utmost convenience, the bank ensures seamless accessibility to its services for premier clients. These customers enjoy appealing returns on deposit products and experience lowered fees for banking services. Exclusive entry to the Shwe Premier Lounge, complete with its opulent amenities, is granted to premier patrons. The bank also values and acknowledges the loyalty of its premier clients, presenting a selection of lifestyle benefits crafted to elevate their banking journey. Since the launch of Shwe Bank’s Premier Banking Service six months ago, it has achieved remarkable success. Over 150

We constantly seek groundbreaking solutions and advanced technologies to enhance our services, empower our customers, and stay ahead of the curve 60 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

premier customers have entrusted the bank with their deposits, contributing significantly to Shwe Bank’s overall deposit portfolio. This stable source of funds strengthens its position in the market. Continually striving for improvement, Shwe Bank is actively enhancing its premier service offerings, with a focus on customer convenience and lifestyle benefits. It is also exploring opportunities to expand its Premier Banking Service to other major cities in Myanmar, ensuring that more clients and customers can access these exclusive privileges. The launch of Premier Banking Service represents another milestone for Shwe Bank as it strives to provide personalised and internationally recognised banking services to customers. This achievement showcases the firm’s ability, as a modest bank, to remain relevant and carve out a niche in the competitive market through proactive strategies, creative ideas, and effective teamwork. Service Innovation of The Year 2023 Shwe Bank bagged the Service Innovation of the Year - Myanmar category win at the recently held Asian Banking and Finance Awards for the recent launch of its Premier Banking service in October 2022. “We strive to redefine the boundaries of innovation in the banking industry. We constantly seek groundbreaking solutions and advanced technologies to enhance our services, empower our customers, and stay ahead of the curve. Being acknowledged as the recipient of the ‘Service Innovation of the Year - Myanmar Award’ is a testament to the hard work and dedication of our team,” said Moo Sun, CEO of Shwe Bank. In conclusion, through Shwe Bank’s ongoing transformation, commitment to excellence, and operating within a sustainable and responsible business model it aims to become a leading and trusted bank in Myanmar, recognised for its superior customer experience and contribution to the nation’s development. By adhering to these principles, the firm aims to triple its assets over the next three years and become one of the top five banks in Myanmar.

ASIAN BANKING & FINANCE | Q4 2023 61

WEALTH MANAGEMENT PLATFORM OF THE YEAR - INDONESIA

BTN Prioritas Sets New Standards in Priority Banking Tailored exclusively for its customers, PLUS offers personalised features like wealth management benefits, loyalty rewards, concierge services, and more.

BTN Prioritas at the ABF Corporate & Investment Banking Awards 2023

o translate “Defining Your Priority” as the unique value proposition of BTN Prioritas, in February 2022, BTN Prioritas launched PLUS by BTN Prioritas, a mobile-friendly website-based membership designed exclusively for BTN Prioritas customers. With PLUS, BTN Prioritas tries to increase customer engagement and loyalty, as well as make differentiation within the priority banking market. The big idea of PLUS by BTN Prioritas is that customers can freely choose the benefits and privileges that suit their preferences because this is the true definition of priority, it’s when one can select and determine the meaning of freedom by themselves. Elevating banking with exclusive wealth management, privileges PLUS by BTN Prioritas can be accessed through www.definingyourpriority.com and comes with six main features, namely wealth management offers, loyalty reward options, banking privilege, BTN Prioritas concierge service, membership coupons, and special day gifts. Membership levels PLUS by BTN Prioritas are differentiated based on the customer’s assets under management at BTN Prioritas, as follows: Gold (IDR500 million to <IDR2 billion), Platinum (IDR2 billion to <IDR5 billion), Titanium (IDR5 billion to <IDR10 billion), and Prime (>IDR10 billion). The first feature, wealth management offers, provides special benefits and other special offers for customers who

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want to invest in Bank BTN. The second feature, choices of loyalty reward, offers a wide variety of loyalty rewards to meet customer needs. The third feature, birthday or festive gifts, provides customers celebrating birthdays or religious holidays with a variety of gift options. The fourth feature is BTN Prioritas concierge service, which offers concierge service for the convenience and comfort of domestic and international airport transfer reservations, airport lounges, medical checkups, and concierge service (reservations and information) related to lifestyle, wellness, and travel. The fifth feature is banking privilege, which provides special benefits for the convenience and comfort of customers transacting at the bank such as free safe deposit box fees, free transaction fees on BTN Mobile, tax consultation Services, meeting room reservations at branch offices, and invitations to attend special events from BTN Prioritas. Finally, the sixth is membership coupons for customers to enjoy sports hobbies such as golfing, hotel memberships, and selected restaurants. Revolutionising rewards and experiences With PLUS by BTN Prioritas, customers will

get an exceptional experience, specifically the ease and convenience of the redemption process through web-based services, so that they can access PLUS by BTN Prioritas and redeem rewards from anywhere and anytime. One of the breakthrough features of PLUS by BTN Prioritas is that BTN Prioritas is becoming the first bank to provide airport lounge services without using a Debit Card but only by scanning the QR Code at the registration desk of the airport lounge and then showing the booking code to the lounge staff. With this method, BTN Prioritas customers can enter the airport lounge in less than 60 seconds. Since its launch until 30 June 2023, PLUS by BTN Prioritas had 13,870 customers who visited a site and 37,982 redeemed benefits through PLUS by BTN Prioritas. BTN Prioritas currently manages 34,000 customers with total assets under management of IDR42.3t as of 30 June 30 2023. In 2023, PLUS by BTN Prioritas will undergo several new developments in its features and services to further adapt to the needs of customers and technological developments in the market.

With PLUS by BTN Prioritas, customers will get an exceptional experience, specifically the ease and convenience of the redemption process through web-based services

CMY

Understanding Brings Us Closer

With our reliable transaction banking services, we are committed to supporting you in cash management and trade finance to achieve your financial goals of optimizing working capital cycle and enhancing treasury efficiency.

Hong Kong Domestic Cash Management Bank of the year

Corporate Customer Service Hotline: (852) 3988 2288 | www.bochk.com

The above product(s) and service(s) provided by Bank of China (Hong Kong) Limited are subject to the relevant terms and conditions.

ASIAN BANKING & FINANCE | Q4 2023 63

DIGITAL BUSINESS BANKING INITIATIVE OF THE YEAR - TAIWAN

First Commercial Bank: Spearheading innovation in finance for over a century

Looking ahead, First Commercial Bank continues to champion innovation, aiming to lead in the digital finance realm and provide seamless, intelligent financial solutions.

business development modules, connects internal and external real-time corporate information, and builds the FFGIS. It actively implements the FFGIS in all domestic branches to optimise existing business promotion processes and assist branches in developing new corporate customers.

First Commercial Bank receives its award at the Asian Banking & Finance Retail Banking Awards

irst Commercial Bank has been operating in Taiwan for over 120 years, since 1899. It has always adhered to the business philosophy of “Customer First, Service Foremost,” aiming to create more value for its customers and provide them with the most satisfactory financial services. Currently, the firm has 188 domestic branches and 31 foreign branches, three offices, one subsidiary bank, and eight subsidiary branches overseas, moving towards becoming an active regional bank in Asia. Whilst actively engaged in digital transformation, First Commercial Bank focuses on technological applications and data-driven decision-making. It received accolades for its First Financial Geographic Intelligent System (FFGIS) and iLEO, winning the Digital Business Banking Initiative of the Year - Taiwan and SME Bank of the Year Taiwan awards, showcasing its outstanding innovative capabilities in the digital domain.

First Financial Geographic Intelligent System As a leader in digital banking, First Commercial Bank combines qualitative and quantitative data for corporate loans, utilising address positioning, geographic information system, and integrating internal and external business information along with three major data analysis patents to establish two business development modules: “Intelligent (GIS) dispatching” and “Customer information search management map platform.” The former module assists the head office in allocating the list of potential customers automatically so as to enhance the branches’ promotion willingness, whilst the latter improves the efficiency of developing clients for branches by locating corporate clients in the nearby area and integrating big data analysis patent models with internal and external information. First Commercial Bank combines three patented technologies with two major

First Commercial Bank will continue to uphold innovation and lead the development of digital finance 64 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

iLEO Additionally, First Commercial Bank’s digital financial brand, iLEO, has received multiple awards. In addition to the SME Bank of the Year - Taiwan at ABF Retail Banking Awards 2023, iLEO was also recognised as one of the most popular brands of The National Brand Yushan Award 2023 in Taiwan. iLEO continues to uphold its core values of “Simple, Innovation and Thoughtfulness,” earnestly listening to user feedback and optimising user experiences. To nurture more creative energy, the iLEO team has also established the iLEO Lab, encouraging cross-departmental members to leverage their imagination and develop distinctive features such as “Anti-peeping Watch” and “Bluetooth Verify” through emerging technologies, strengthening information security. Now, First Commercial Bank ranks first amongst government share banks in terms of digital account openings, and its app has received the highest ratings in mobile banking evaluations on both the App Store and Google Play in Taiwan, earning praise from digital customers. In the future, First Commercial Bank will continue to uphold innovation and lead the development of digital finance, providing customers with more convenient and intelligent financial services.

First Commercial Bank’s trophies at the Asian Banking & Finance Retail Banking Awards 2023

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DEBT DEAL OF THE YEAR - HONG KONG OFFSHORE DISTRIBUTION INITIATIVE OF THE YEAR - HONG KONG

Nanyang Commercial Bank fosters growth, innovation in the evolving banking landscape Nanyang Commercial Bank, Limited (NCB) leverages strategic collaborations, customer-centricity, and prudent risk management to stay relevant in the dynamic banking sector.

t is evident that customer needs in the banking sector are constantly evolving. As businesses face dynamic economic landscapes, technological advancements, and shifting regulatory environments, they seek comprehensive financial solutions tailored to their unique requirements. Today’s clients demand more than traditional banking services. Meeting these changing customer needs requires banks to stay agile, customer-centric, and proactive in offering sophisticated financial products and services that empower businesses to thrive in an everchanging market. NCB has demonstrated its commitment to staying relevant in the dynamic and competitive banking industry since its founding in 1949. Over the years, NCB has evolved and adapted to meet the changing needs of its customers and the market. The bank has upheld the principles of “CustomerOriented and Courteous Service” and “Reputation First and Service-Driven,” which have helped establish a strong foothold in Hong Kong and serve customers globally. NCB’s strategic goal of being a customeroriented, technology-driven bank combined with cross-border, investment, and commercial banking has enabled it to provide convenient, efficient, and professional banking services through diversified channels. With 33 branches in Hong Kong and a wholly owned subsidiary, Nanyang Commercial Bank (China) Limited, or NCB (China), which is headquartered in Shanghai with 39 branches in Mainland China, NCB leverages its cross-border presence to offer enhanced services to customers and capture opportunities in the dynamic Chinese market. Business transformation through collaboration The bank’s acquisition by Cinda in 2016 marked a significant turning point in its development. NCB benefits from Cinda’s strong financial platform, liquidity, and funding capacity, which have fortified its growth and business diversification. The synergies between NCB’s banking business and Cinda’s asset management business have created a cycle of coverage, allowing NCB to leverage Cinda’s brand recognition and clientele to expand its customer base, attract high net worth customers, and develop innovative financial products. NCB also taps into Cinda’s extensive business network in various provinces, autonomous regions,

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and municipalities in China, assisting in the expansion of its onshore and offshore business networks. The collaboration further extends to support NCB’s management and operational teams, especially since Cinda’s management has significant experience working in financial institutions, regulatory bodies, and commercial banks. NCB also strengthens its intermediary businesses through cross-selling efforts with Cinda, thanks to Cinda’s wide range of licences for providing financial services and high product development capabilities. “With strong support from Cinda through sharing its experience in risk identification, risk disposal, and risk management, NCB is expected to enhance its assets disposal mechanism and improve its own risk management capabilities,” NCB stated. NCB’s strong presence in Hong Kong and Mainland China already places it in a unique and advantageous position. In 1982, it set up a branch in the Shenzhen Special Economic Zone, making it the first foreign bank branch in Mainland China since the founding of the People’s Republic of China. NCB (China) was then launched in December 2007 to further expand the bank’s development in the Mainland.

We establish a distinctive brand for cross-border financial business and big asset management business through highly-efficient collaboration “Meanwhile, we establish a distinctive brand for cross-border financial business and big asset management business through highly-efficient collaboration in order to become a commercial banking group in Mainland China and Hong Kong – encompassing the qualities of integrated, international, and modernised – with the capability to provide in-depth integrated cross-border financial services,” NCB added. Maintaining trust through prudent risk management To maintain trust in the market, NCB places a strong emphasis on prudent risk management. The bank has a risk management culture and a clear risk management plan in place to ensure the effective identification, disposal, and management of risks. Utilising Cinda’s expertise, NCB

Nanyang Commercial Bank

optimises returns and efficiency in asset management. The bank consistently revises its risk management policies in response to market shifts. With a skilled team and a Risk Management Committee, NCB diligently oversees credit, liquidity, and market risks. Employing the “Three Lines of Defence” strategy, NCB establishes a strong operational risk framework, ensuring organisational resilience and enhanced risk control. Moving forward, NCB aims to strengthen its traditional banking by centering on clients and creating a unique cross-border financial services brand. By collaborating efficiently with Cinda, NCB seeks to be a global banking group offering integrated financial services in Mainland China and Hong Kong. NCB’s achievements have not gone unnoticed, as evidenced by its recent recognition at the ABF Corporate and Investment Banking Awards. Winning the categories of Debt Deal of the Year - Hong Kong and Offshore Distribution Initiative of the Year - Hong Kong is a testament to the bank’s dedication to excellence and innovation in the financial industry. These accolades showcase NCB’s continued commitment to delivering outstanding financial solutions and services to its customers, solidifying its position as a leading player in the banking sector.

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FINANCE COMPANY OF THE YEAR - PHILIPPINES SME FINANCIAL INCLUSION INITIATIVE OF THE YEAR - PHILIPPINES

A Trailblazer in Financial Inclusivity: Asialink Finance Corporation’s Impactful Journey Despite challenges, Asialink’s resilience and strategic vision have solidified its position as a beacon of financial excellence, fostering economic growth, and inclusion in the Philippines. II and Robert B. Jordan Jr. have recognised the significance of embracing technology to enhance operational efficiency and customer experience. Asialink Finance Corporation’s investment in digital transformation has revolutionised its service delivery and expanded its outreach. Through user-friendly digital platforms, the company has made financial services more accessible to a broader spectrum of the population, bridging the gap between urban and rural communities.

Asialink Finance Corporation Chairman Ruben Y. Lugtu II (left) and CEO Robert B. Jordan

n the dynamic and competitive landscape of the Philippines’ financial industry, exemplary leadership and strategic vision are crucial to achieving success. Ruben Y. Lugtu II, the Chairman, and Robert B. Jordan Jr., the CEO of Asialink Finance Corporation, have exemplified these qualities, propelling the company to new heights and earning prestigious accolades like “Financing Company of the Year” and “SME Financial Inclusion Initiative of the Year.” Asialink Finance Corporation - A Beacon of Financial Excellence Founded in 1997, Asialink Finance Corporation has emerged as a pioneer in the non-bank financial sector, catering to the diverse needs of individuals and enterprises across the Philippines. Under the combined stewardship of Ruben Y. Lugtu II, Robert B. Jordan Jr., the company has cultivated a customer-centric approach, embracing innovation and technology to drive financial inclusion and accessibility. Financing Company of the Year - Philippines The “Financing Company of the Year” award serves as a testament to the remarkable achievements of Ruben Y. Lugtu II and Robert B. Jordan Jr. as leaders of Asialink Finance Corporation. Their strategic foresight and diligent execution have propelled the company to unparalleled success in an ever-

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evolving industry. By focusing on customer needs, expanding nationwide reach, and fostering strong relationships with partners, Asialink has been able to set itself apart from competitors and achieve this prestigious recognition. SME Financial Inclusion Initiative of the Year - Philippines The growth and prosperity of small and medium-sized enterprises (SMEs) are vital to the Philippines’ economic success. Asialink Finance Corporation’s commitment to fostering SME development and financial inclusion has been exemplary. The “SME Financial Inclusion Initiative of the Year” award reflects Ruben Y. Lugtu II and Robert B. Jordan Jr.’s dedication to providing innovative financial solutions to SMEs, empowering them to thrive in a competitive market. Asialink Finance Corporation introduced tailored loan programs and financial solutions designed to cater specifically to the needs of SMEs. Embracing Digital Transformation In the era of digital disruption, Ruben Y. Lugtu

Impact on the Philippine Financial Landscape Asialink Finance Corporation’s remarkable achievements have had a profound impact on the Philippine financial landscape. Their commitment to financial inclusion has contributed to reducing the gap between the financially excluded population and mainstream financial services. By reaching out to underserved communities and providing them with access to credit and financial resources, the company has played a crucial role in fostering economic growth in the country. Asialink, through the years Ruben Y. Lugtu II and Robert B. Jordan Jr’s leadership as Chairman and CEO, respectively, of Asialink Finance Corporation has transformed the company into a champion of financial inclusion and prosperity in the Philippines. Their strategic vision, commitment to customer-centricity, and dedication to SME empowerment have been pivotal in winning the “Financing Company of the Year” and “SME Financial Inclusion Initiative of the Year” awards. By embracing digital transformation and fostering impactful partnerships, Asialink Finance Corporation continues to thrive under their guidance and the impact of their endeavours will undoubtedly be felt across the Philippines, empowering businesses and individuals alike and contributing to the nation’s economic prosperity.

By focusing on customer needs, expanding nationwide reach, and fostering strong relationships with partners, Asialink has been able to set itself apart from competitors

ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 69

NEW CONSUMER LENDING PRODUCT OF THE YEAR - PHILIPPINES

Security Bank Corporation wins New Consumer Lending Product of the Year - Philippines It was honoured for the revamp of its Complete Cashback Platinum Credit Card.

ecurity Bank Corporation took home the New Consumer Lending Product of the Year - Philippines category win at the recently held Asian Banking and Finance Awards for the revamp of its Complete Cashback Platinum Credit Card – which provides a best-in-class value proposition through guaranteed rebates across major everyday spend.

The award solidifies Security Bank’s thrust to be the most customer-centric bank in the Philippines by providing highly relevant financial solutions that enable customers to get more of what they deserve 70 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

The recognition is a testament to the strength & impact of the product, and the leadership of its variant in the industry. The award solidifies Security Bank’s thrust to be the most customer-centric bank in the Philippines by providing highly relevant financial solutions that enable customers to get more of what they deserve. The Security Bank Complete Cashback Platinum Mastercard is set apart by the savings it gives through a tiered rebate structure (5-4-3-2- 1%) across major everyday spend categories: 5% rebate on groceries, 4% rebate on gas, 3% rebate on utilities, 2% rebate on dining, and 1% rebate on shopping. The benefits don’t end at rebates. Cardholders are also entitled to a range of exclusive shopping and dining deals, as

well as access to the Marhaba Lounge at NAIA Terminals 1 and 3 at a preferential rate when they travel. The product saw a significantly high card activation and usage rate amongst new cardholders and previously carded customers compared to other card variants prior to launch. In its first month, the product achieved remarkable acquisition volume and continued to record sustained growth months after. The new credit card now has the third highest acquisition count across all products despite being a new product. To apply for this award-winning product, visit the official Security Bank website at www.securitybank.com or visit a Security Bank branch near you.

Own Your Dream House with Lower Monthly Instalment for the First 5 Years

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Affin Bank Berhad 197501003274 (25046-T)

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Affin Islamic Bank Berhad 200501027372 (709506-V)

SOUTH KOREA INTERNATIONAL TRADE FINANCE BANK OF THE YEAR

The ING difference: Partnering with you in your growth ambitions ING is helping its clients grow their businesses in the region and beyond.

Anju Abrol (second from left) CEO and head of Wholesale Banking APAC, ING, receives the trophy at the Asian Banking and Finance Awards 2023 dinner on 25 July 2023. Together with her are, from left: Ho Kok Yong from the judging panel and Deloitte; Hyung-Yon Park of ING Korea; and Chaw Ming Quek of ING APAC

NG is a global bank with a strong European base. Its more than 59,000 employees offer retail and wholesale banking services to customers in over 40 countries. The bank’s purpose is to empower people to stay a step ahead in life and in business. Its products include savings, payments, investments, loans, and mortgages in most of its retail markets. For ING’s wholesale banking clients, the firm provides specialised lending, tailored corporate finance, debt, and equity market solutions, sustainable finance solutions, payments & cash management, and trade and treasury services. Customer experience is what differentiates ING, and it is continuously innovating to improve. ING also partners with others to bring disruptive ideas to the market faster. ING in Asia Pacific In Asia Pacific, ING offers wholesale banking across 11 markets, namely Australia, China, Hong Kong SAR, India, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan, and Vietnam. It offers both retail and wholesale banking services in Australia. The ING difference lies in the firm’s global reach with local experts, as no matter where its clients are in the world, ING’s network of experts offers a seamless local experience

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with a global view. It is also made up of sector experts - those within the organisation know their stuff, and their clients trust them to deliver tailored solutions to meet their needs. With the company’s focus on sustainability, ING is not just a green thought leader, it also works hand-in-hand with clients to address some of the more pressing issues in the world today.

No matter where its clients are in the world, ING’s network of experts offers a seamless local experience with a global view

ING in South Korea: 30 years of experience and counting ING first started operating in South Korea in 1991 and later opened a securities branch in 2016 to expand its capabilities. It is the largest international bank in South Korea offering trade finance services, particularly in the receivables finance space. The services it offers include trade loans, receivable financing and guarantees for

corporates, Letters of Credit refinancing, and Banker’s Acceptance finance for banks, as well as unfunded guarantees for nonbank financial institutions. Additionally, ING specialises in providing customised solutions for complex deals in an area where products have been commoditised. It does so through in-depth product knowledge and local expertise, for instance in the green energy space, and longstanding client relationships with major Korean corporations. Client needs are increasingly sophisticated; and thus, deep sector knowledge is required to meet those needs. Sustainability Pioneers ING remains a global leader in sustainable finance, where it is a pioneer in structuring the first-ever sustainability-linked loan for Philips in 2017. It has closed several landmark sustainability deals in South Korea, including Asia’s first social-covered bond for Korea Housing Finance Corporation (KHFC) in 2018. More recently, in 2022, it has achieved a volume of over €100b in sustainable finance mobilised globally, which puts it well on its way towards the goal of €125 billion annually by 2025.

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Under-served &

Un-served Population Unlock

A Leading Financial Institution in

Myanmar,

providing

affordable

and sustainable ﬁnancial services

under-served

un-served

population since 2015, especially

living

rural

areas,

promoting rural economy.

300,000+

Number of Branches

84%

and

your ﬁnancial dreams with SATHAPANA Limited empowering your business with Loans and Savings to grow to next level!

Number of Clients

Rural Clients Participation

78%

Women Clients Participation

S AT H A PA N A M A K E S Y O U R L I F E B E T T E R . info@sathapana.com.mm

www.sathapana.com.mm ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 73

DOMESTIC RETAIL BANK OF THE YEAR - MYANMAR CORE BANKING SYSTEM INITIATIVE OF THE YEAR - MYANMAR

KBZ Bank: Serving Myanmar through Innovation, Inclusion, and Service Excellence As Myanmar’s largest private bank, KBZ Bank focuses on meeting diverse needs through its initiatives, including a mobile-first approach and the KBZPay mobile wallet.

yanmar’s banking sector has been experiencing remarkable transformation in recent years, driven by a mobile-first population and private banks focused on meeting their needs through innovation and financial inclusion. As Myanmar’s largest private bank, KBZ Bank has been spearheading transformative initiatives that improve the essential services provided to the people, communities, and businesses of the country. In April 2023, KBZ Bank completed its core banking system upgrade to bolster further its commitment to enhancing the banking experience for all. In recognition of the bank’s ongoing digital transformation efforts to boost innovation and efficiency across its operations, it was awarded the Asian Banking & Finance Core Banking System Initiative of the Year - Myanmar award this year. KBZ Bank is focused on providing access to financial services to everyone in the country - regardless of location. With a 40% market share and the largest branch network in Myanmar, KBZ Bank’s reach is unparalleled. Innovation around its digital services, such as its mobile wallet, KBZPay, has been central to this nationwide coverage. The platform has more than 12 million customers, representing about onethird of the adult population in Myanmar. From unbanked to empowered in Myanmar With its extensive reach, range of financial services, and innovative KBZPay platform, KBZ Bank has revolutionised finance across the country by facilitating the highest volume of transactions and making everyday financial activities accessible to a broader segment of the population. However, it’s not just the numbers that define the bank’s success but the positive impact it has on ordinary citizens and small businesses throughout the nation. The bank’s dedicated efforts to promote financial inclusion have significantly contributed to improving the quality of life for the people of Myanmar. Through the widespread adoption of KBZPay, unbanked communities throughout Myanmar have become integrated into the country’s financial system, empowering t hem to conduct

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day-to-day transactions with ease and efficiency, from lending and peer-to-peer transfers to bill payments and mobile topups. This progress has brought essential financial services to formerly underserved communities, providing them with newfound opportunities for growth and financial security. KBZ Bank is focused on providing products and services for the specific needs of individuals and businesses in Myanmar. For individuals, the bank provides inclusive and affordable banking products and services tailored to meet their unique financial needs and aspirations. Meanwhile, for businesses, KBZ Bank plays a vital role in supporting economic development through a wide array of specialised banking products and services such as payroll management, actively engaging with SMEs to provide them with the necessary financial support and expertise for longterm growth. “We are committed to driving positive change and transformation in Myanmar’s

Our belief in the power of innovation, inclusion, and exceptional service is what fuels our continuous efforts to make banking accessible for all financial landscape,” said U Zaw Lin Aung, CEO of KBZ Bank. “Our belief in the power of innovation, inclusion, and exceptional service is what fuels our continuous efforts to make banking accessible for all, from unbanked individuals to ambitious SME owners. The recognition of our core banking system upgrade reinforces our dedication to serving the people, communities, and businesses of Myanmar.” Enhancing banking experience and customer service By investing in world-class technology and innovative products, KBZ Bank aims to simplify the banking experience, reduce everyday banking challenges, and improve overall customer service. The core banking system upgrade, built on advanced Oracle technology, represents KBZ Bank’s determination to stay at

U Zaw Lin Aung, CEO of KBZ Bank

the forefront of Myanmar’s financial services industry. This upgrade enhances operational efficiencies, compliance, and risk management functionalities, ultimately leading to improved customer experiences through cutting-edge digital banking services. “We have set in motion our plans to improve all aspects of customer service, from providing access to globalstandard digital banking services and addressing gaps in the customer journey to optimising workflow and streamlining processes so that frontline employees can serve customers more efficiently,” added U Zaw Lin Aung. As KBZ Bank forges ahead in its twin mission of achieving 100% financial inclusion and becoming Southeast Asia’s leading bank in customer service by 2024, it will continue to empower the people, communities, and businesses of Myanmar through its drive to embed the highest standards throughout the country’s financial sector.

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TAIWAN DOMESTIC GREEN FINANCE INITIATIVE OF THE YEAR

Far Eastern International Bank, a rising powerhouse in Asia It won the Taiwan Domestic Green Finance Initiative of the Year at the ABF Wholesale Banking Awards 2023.

ar Eastern International Bank (FEIB), having been awarded three times by Asian Banking and Finance Magazine (ABF), has just been recognised with the Taiwan Domestic Green Finance Initiative of the Year at the ABF Wholesale Banking Awards 2023 for the Qingshui Geothermal Power Plant specialising in natural geothermal power generation. FEIB demonstrates the innovative thinking of green finance, continues to expand the scope of ESG credit facility, leverages its financial influence, and actively supports the net zero transformation with 4 managerial dimensions of “sustainable industry”, “sustainable enterprise”, “green loan” and “ sustainability linked loan”. Upon the new framework definition, the ESG-related outstanding loans in 2022 have reached US$1.3b approximately.

Qingshui Geothermal Power Plant

The “One-Bank, One-Team” Approach Far Eastern is a boutique commercial bank headquartered in Taiwan. Over the past decade, the bank has gradually emerged from a mid-sized domestic player to a regional-based frontier institution specializing in structured and leveraged finance for Asian corporates and financial institutions seeking overseas funding and more diversified bank communities. To provide customised and tailored financial services for the all-round needs of corporate customers, FEIB continues to expand its overseas platforms to integrate business resources in Taiwan, Mainland China, Hong Kong and the Asia-Pacific region. The cross-border services have uplifted the bank to play an important role as a professional corporate finance provider with many significant cross-border projects such as MLAB, structured financing, and capital market deals. “We operate our bank as “One-bank, Oneteam” approach,” quoted by the corporate banking head of Far Eastern, Steve Chi. “That is why we can always provide our customers the right financing solutions at a speed with no parallel.”

Far Eastern Int’l Bank Address: 18F, No 207, Sec 2, Tun Hwa S Rd., Taipei, Taiwan Website: www.feib.com.tw

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We operate our bank as “One-bank, One-team” approach

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MORTGAGE AND HOME LOAN PRODUCT OF THE YEAR - THAILAND

GHBank Mortgage Solutions: Delivering sustainable financial services and promoting financial inclusion GHBank leverages in mortgage solutions and cutting-edge technology to empower Thai individuals, not only in achieving homeownership but also in preserving and securing their cherished homes for the long term. broader economy of Thailand. It’s just as important to help Thai people secure their homes as it is to facilitate home loan services for them.

Government Housing Bank in Thailand

It’s just as important to help Thai people secure their homes as it is to facilitate home loan services for them

overnment Housing Bank, Thailand The Government Housing Bank (GHBank) has been established for seven decades with the principal mission of facilitating homeownership for more Thai citizens. Currently, the bank is determinedly pursuing a goal to become the best housing bank in Thailand by 2025, with a strategic focus on home mortgage products as a means of achieving this goal. GHBank maintains its position as the number one market share holder in the home loan market. It continues to play a crucial role in supporting the government’s policy of assisting the public in achieving homeownership and driving the economy through the real estate sector. GHBank offers a comprehensive range of mortgage solutions, categorised into two distinct segments: Business Solutions and Social Solutions. The Business Solution caters to customers with middle to high income levels, providing tailored mortgage packages to meet their diverse needs. On the other hand, the Social Solution is specifically designed to assist customers with low incomes, ensuring that they too have access to home loan products, promoting financial inclusion.

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‘Baan Laan Lang’ (Million Homes Project): A Mortgage Product for Financial Inclusion Amongst low-income segmented mortgage solutions is “Baan Laan Lang (Million Homes Project),” a home loan product that has been created specifically for low-income individuals and first-time homebuyers who wish to purchase a house valued at THB1.5m (US$ 43,900) or less. The objective of this product is to cater to an underprivileged market segment that is often neglected by other financial institutions. “Baan Laan Lang” provides access to affordable financing options, thereby enabling previously unserved individuals to realise their dream of homeownership. “Baan Laan Lang” had a total loan value of approximately THB20b (US$ 58m) in 2022, with a lower non-performing loan rate than the bank’s average rate. This product accounted for a substantial portion of GHB’s new loans, amounting to 38% of the overall loan portfolio and 22% of the new home loans granted in Thailand in 2022 for the low-income segment (mortgage value per account of less than 1.5 million or US$ 44,500). As a result, “Baan Laan Lang” has had a significant impact on both the organisational profit of GHB as well as the

Ensuring homeownership amidst challenging times Apart from providing mortgage solutions to Thai people, GHBank recognises the importance of assisting its customers in securing their homes during periods of financial hardship. Amidst the challenging circumstances brought about by the COVID-19 pandemic, GHBank reasserted its commitment to its mission of facilitating homeownership for Thai citizens. Leveraging its core competencies and advanced technology, the bank worked diligently to help customers retain their cherished homes and navigate through the crisis successfully. To achieve this objective, GHBank implemented over 20 measures designed to aid loan customers adversely affected by the pandemic. These measures offered flexible options to customers, allowing them to choose from various supportive arrangements based on their repayment ability. Options included partial payments of 25%, 50%, or 75%, as well as the possibility to suspend repayments temporarily. Furthermore, GHBank harnessed its expertise in digital technology to empower its customers to access and apply for these measures conveniently through a mobile application named “GHB BFRIEND.” This application was purposefully created and launched to facilitate the process of applying for the aforementioned measures. Notably, the application continues to serve as a platform for customers to request debt suspension if they are facing repayment hardship. Through the implementation of these tailored solutions and the mobile application, GHBank showcased its commitment to enhancing customers’ financial well-being and facilitating homeownership opportunities for the people of Thailand.

CREDIT CARD INITIATIVE OF THE YEAR - PHILIPPINES

Bringing credit cards experience to the next level Addressing limitations of payment only at accredited merchants, UnliPay enables real-time, secure transfers from credit card to local bank accounts or e-wallets.

ward-winning RCBC Credit Cards introduced a newfound way to strengthen cardholders’ purchasing power whilst supporting home-based and local businesses as the country moves towards a cashless society. Running out of cash or the unavailability of credit card payment options can be rough, both for the cardholder and the payee. To get the funds needed, cardholders often opt to make a cash advance via the ATM using a Cash Advance PIN. Typically, cash advance limits are much lower than the entire credit limit of a credit card. Unlocking limitless credit card payments and transfers RCBC Credit Cards addressed this limitation that credit card payments can only be made at accredited merchants by introducing the UnliPay feature in the RCBC App. This allowed RCBC Credit Cardholders to pay and transfer money securely and in real-time to any local bank account or e-wallet using their available credit card limit. Cardholders can use UnliPay to pay their rent and association

dues, utility bills, taxes, doctor’s fees, online purchases, and more. This is especially relevant with the rise of micro-entrepreneurs, small businesses, and online sellers. RCBC Credit Cardholders can order from any seller online or pay for professional services using their credit cards, even if the seller or payment provider does not have a payment gateway. The seller just has to provide his account or wallet name

UnliPay enhanced the RCBC Credit Cardholders’ purchasing power, providing them with the required funds at the time they are needed and number to the payor or cardholder, and payments are received as fast as in real-time. UnliPay enhanced the RCBC Credit Cardholders’ purchasing power, providing them with the required funds at the time they are needed, almost instantly, conveniently, and safely. Cardholders just need to log in to the

RCBC Credit Cards’ First Vice President & Marketing and Corporate Communications Group Head – Ma. Angela C. Mirasol (centre) and Vice President & Business Development Group Head – Ricardo M. Reynoso (rightmost) at the Asian Banking & Finance Awards 2023.

80 ASIAN BANKINGAND & FINANCE 2023 ASIAN BANKING FINANCE| Q4 | DECEMBER Q3 2021 2019

RCBC Credit Cards’ President & CEO Arniel Vincent B. Ong

RCBC App and complete the UnliPay transaction in just a few taps. Once the confirmation is provided, the amount gets transferred to the Destination Account in real time. Transforming credit card convenience with flexible payment options UnliPay also provides greater flexibility. Cardholders can opt to pay UnliPay transactions for up to 36 months in installments with a very minimal add-on rate, so they won’t need to worry about paying for them in one go. As such, RCBC Credit Cards’ President & CEO Arniel Vincent B. Ong said that the bank is keen to take their cardholder’s relationship with their RCBC Credit Card a notch higher by building innovative digital solutions. “We don’t want our credit cards to be just their shopping companion; we want to provide them with much-needed financial flexibility whenever and wherever they need it, without the burden of heavy interest rates”, he said. RCBC Credit Card’s UnliPay has been awarded the Credit Card Initiative of the Year - Philippines by the Asian Banking & Finance Awards 2023, held last 25 July 2023, at the Marina Bay Sands Expo & Convention Centre in Singapore. UnliPay also received the Outstanding Digital CX Award at the recent Digital CX Awards 2023 by The Digital Banker.

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FOREIGN EXCHANGE RHB Live FX @ Reﬂex

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Mashreqbank PSC is regulated by the Central Bank of the United Arab Emirates 86 ASIAN BANKING & FINANCE | Q4 2023

T&C Apply.

Leading the way to a sustainable future and nation-building projects to committed to building a bright future for all Filipinos. Together, let us invest in a better tomorrow.

ASIAN BANKING & FINANCE | Q4 2023 87

Hang Seng Business Integrated Account Open your company account fully online via desktop or mobile in as fast as 3 days1,2 Welcome offers worth more than HK$88,888 for essential banking services and Business e-Banking!

Hang Seng offers a range of financial solutions which fit different industries, with a strong branch network and diverse digital solutions to comprehensively support your business needs!

Scan the QR code to learn more Enquiry Hotline: +852 2198 8022 Remarks: 1. To enjoy remote account opening service, the applicant’s connected party(ies) must hold a Hong Kong or mainland China’s Resident Identity Card. Also, the applicant’s connected party(ies) has / have to be physically located in Hong Kong or mainland China when submitting the application, completing digital ID verification and e-Sign successfully. The eligibility of applicants for remote account opening is subject to the final and absolute discretion of Hang Seng Bank Limited. 2. For application with all connected party(ies) who are HKID holders and located in Hong Kong, the Business Integrated Account can be opened in as fast as 3 business days for the Biz Virtual+ Account / 5 business days for the Integrated Business Solutions Account upon completing Digital ID Verification and e-Sign by the aforementioned connected party(ies). Customer(s) will receive a SMS notification for e-Sign after the (1) satisfactory review of the documents submitted, (2) successful completion of digital ID verification and (3) completion of Know Your Customer (“KYC”) call(s). For customers requiring a face-to-face appointment at Business Banking Center(s) (if applicable), an appointment will be arranged based on the latest availability. Terms and conditions apply to the services and offers. Disclaimer The content of this page is intended to be provided to people in Hong Kong, and the products and services mentioned therein are only available to areas that can be legally provided at that time, and are not intended to provide the above content to anyone who lives in or resides in areas 88 ASIAN BANKING & FINANCE | Q4where 2023 the distribution of the aforementioned content is prohibited or restricted.

2023

SUSTAINABILITY INITIATIVE OF THE YEAR - VIETNAM HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK (HDBANK)

CONGRATULATIONS TO HDBANK ON WINNING ASIAN BANKING AND FINANCE RETAIL BANKING AWARDS 2023 Over 30 years of establishment and expansion, with a solid foundation and sustainable development, HDBank continues reaching out to the world. HDBank has strong financial resources, offering a diverse range of financial services for individuals, corporate customers and investors. In accordance with the strategic goal of becoming a leading bank in retail and SMEs built on modern technology platform, HDBank implemented a strong digital transformation in banking operations, applying technologies in products and services with an aim of serving millions of customers in the orientation of becoming a Happy Digital Bank. Throughout many years, HDBank has been committed to its mission “Committed to your best returns” to our Customers, Shareholders and the Society and earned many outstanding achievements, also being recognized by many prestigious domestic and international organizations, leaving an impressive mark on the Vietnam financial market and becoming a trusted brand among customers.

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PVCOMBANK

10 YEARS

ANNIVERSARY

90 ASIAN BANKING & FINANCE | Q4 2023

1900 5555 92 PVcomBank.com.vn

PVcomBank - A member of Petrovietnam

ASIAN BANKING ASIAN ASIAN BANKING AND BANKING FINANCE AND & FINANCE FINANCE | DECEMBER || Q4 Q3 2023 2021 2020 91

Vietcombank Remittace, a leading remittance provider in Vietnam, has been awarded 'Remittance Company of the Year – Vietnam' in the Asian Banking & Finance Retail Banking Awards 2023.

平面廣告宣傳稿樣式如下:

VIETCOMBANK REMITTANCE (VCBR) 13-13Bis Ky Dong St, Ward 9, District 3, Ho Chi Minh City, Vietnam Website: vcbr.com.vn Hotline: 1900 545 515 - info@vcbr.com.vn

Winner for three consecutive years since 2021. Banking for Women Initiative of the Year – Taiwan Thank you for trusting Chang Hwa Commercial Bank as women’s best support when having their own business. With three consecutive years of being awarded Banking for Women Initiative of the Year – Taiwan, we will continue to serve and provide better products for women.

Banking for Women Initiative of the Year - Taiwan Chang Hwa Commercial Bank

BE YOUR BEST PARTNER 92 ASIAN BANKING & FINANCE | Q4 2023

WE CREATE VALUE FOR YOU We earn your trust, and do our best to always be worthy of it. As a multi-awarded, wholly-owned subsidiary and the investment banking arm of BPI, we help your business maximize its potential and meet its goals. We offer a full suite of services, handled by our team of seasoned professionals, to help you achieve your ﬁnancial objectives. Learn more at www.bpi.com.ph

Philippine Domestic Project Finance Bank of the Year Asian Banking & Finance Wholesale Banking Awards 2023

BPI Capital Corporation: 23F Ayala Triangle Gardens Tower 2, Paseo de Roxas Cor. Makati Avenue, Makati 1226, Metro Manila, Philippines. Telephone: (632) 8580-0888 loc. 15108 • Email: bpicapital@bpi.com.ph Bank of the Philippine Islands is regulated by Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph

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Bank Syariah Masa Depan

Reach your future goals with Aladin: Ala Impian, saving account with competitive return and Mudharabah contract, allows you to create 20 individual deposit account Ala Donasi, our Sharia donation features to expedite your acts of kindness aladinbank.id

www

www.aladinbank.id

PT Bank Aladin Syariah Tbk is a banking institution registered and supervised by the Financial Services Authority and is a participant of The Indonesian Deposit Insurance Corporation (LPS)

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