Banks are forward-looking, leaving the pandemic behind and helping clients to expand in the region by digitising operations and embarking on sustainability journeys

Alipay emerges as the best platform, driven by its impressive performance in coverage, connectivity and ecosystem, while GCash excels in customer base, usage and engagement, and Wise scores on performance

CaixaBank in Spain and South American bank Itau Unibanco topped this year’s inaugural Global Retail Bank Ranking

Growing transaction volumes are pushing Indian banks to rethink technology architecture to integrate cloud and data capabilities to meet growing transaction volumes. Indian fintechs and digital players see consumer growth, but also increased expectations and competition.

Digital wallets are driving a transformation of financial services around the world. The gross transaction value of all platforms in Southeast Asia grew by 9% in 2021. E-commerce is believed to be leading the charge, with the compound annual growth rate for digital wallets set to grow by 17% until 2025.

Asia Pacific banking sector delivered better-than-expected profitability and reduced NPLs in FY2021.The strongest banks in China, Hong Kong, Japan, Macau, Malaysia and Singapore ranked among the top 10 strongest banks in the region

Saudi National Bank, the third largest bank in the Middle East and Africa, achieved solid profitability. National Bank of Egypt overtook Standard Bank Group as the largest bank in Africa and it fared well in asset quality, capitalisation and liquidity

Regulators in African countries are exploring the role of open banking in financial services. This push is reflected by the diverse opportunities that open banking can provide to financial services and end-customers.

Asia Pacific banks saw asset growth slow down to 7.9% in FY2021 from 10.7% in FY2020, while 85% of banks posted higher net profit, reflecting economic recovery from the COVID-19 pandemic