CorporateInstitutional

Banks in the Asia-Pacific region are pushing boundaries with bank-to-enterprise API connections, AI-powered insights, and the integration of generative AI (GenAI) as a driver of efficiency.

Taiwan’s CTBC Bank leads with direct bank-to-enterprise API connections for seamless enterprise resource planning  transactions, an app that is friendly for SMEs to use for paperless operations, and real-time foreign exchange hedging. This year, CTBC plans to launch supply chain finance software on the SAP Global Store and has developed its AI-powered EI6 enterprise intelligence platform for proactive financial consulting, positioning the bank as a strategic partner beyond traditional banking.

Following suit in digital innovation, Singapore’s DBS has demonstrated leadership in the SME sector. Streamlined onboarding facilitates expedited account opening, while GenAI has reduced know-your-customer (KYC) processing time by 33%. AI-powered personalization has increased outward payments by 29% and boosted balances in current accounts and savings accounts.

Strategic partnerships, such as One-Click Payroll, have increased new customer acquisition by 35%, according to DBS reports. The DBS RAPID API suite has handled 900 million corporate API calls so far, with usage in Hong Kong increasing by 17% in 2024. DBS also uses an AI-powered Digital Twin Customer Service Officer and is testing Joy, a GenAI bot that focuses on technologically advanced customer service and efficiency.

Mirroring this commitment to advanced technology, Bankee Social Bank is Taiwan’s foremost cryptocurrency-friendly banking institution, overseeing over 90% of Taiwan’s virtual-asset cash flows. Bankee combines Web 3.0 and AI, establishing global benchmarks in fraud prevention with its 4D Full-Dimensional AI Intelligent Anti-Fraud System, which has prevented over 300 million New Taiwan dollars (about US$9.8 million) in fraudulent transactions, with a 98.7% accuracy rate.

Founded by Far Eastern International Bank, Bankee operates on a sharing economy paradigm, engaging customers in product development and profit distribution. It functions as both a bank-as-a-platform (BaaP) and bank-as-a-service (BaaS), fostering a comprehensive financial ecosystem through strategic partnerships and open APIs aimed at augmenting its digital customer base.

Banks across Western Europe are reimagining financial services by blending traditional strengths with fintech-inspired innovations, creating more integrated, digital-first, and customer-centric experiences.

Traditional banks and agile neobanks in Western Europe are creating an integrated and personalized banking experience that emphasizes cocreation, extensive digital upgrades, and native digital efficiencies.

Portugal’s Millennium bcp has focused on cocreation with SMEs to develop a platform that simplifies complex processes and enhances accessibility, aligning with the broader trend toward a seamless, integrated, and personalized banking experience. Its success in digital transformation, recognized by high satisfaction scores, showcases how established banks are adopting a fintech-like approach to meet client needs. Turkey’s Isbank has also simplified and significantly upgraded its digital services, offering fully digital onboarding and a revamped super-app.

The banks prioritize an intuitive and efficient digital experience. Isbank leads in open banking and introducing comprehensive digital treasury and cash management tools. While Millennium bcp emphasizes integrating external services for billing and taxes, Isbank focuses on AI-powered cash flow forecasting and real-time account surveillance.

Spain’s BBVA prioritizes embedded finance, with dedicated teams driving growth in its partner network and customer acquisition. Specialized teams handle partnership origination, development, and support by identifying platforms, codeveloping integrated solutions, and driving usage. After launch, partner-relationship managers oversee quality, performance, and compliance while also identifying new use cases. This comprehensive approach has enabled rapid scaling of the bank’s embedded finance footprint, delivering contextual financial services within trusted platforms.

BBVA’s embedded finance capabilities stand out through API-based solutions that address clients’ operational needs and can be delivered where needed, making banking simple, immediate, and relevant. Financial services support businesses’ operational needs by adding value within partners’ platforms.

A reverse factoring API with a syndicated model automates and centralizes supplier payments, enabling the real-time processing of large volumes of invoices for same-day payment and risk sharing, without requiring direct engagement with BBVA channels. Treasury APIs for SMEs integrate seamlessly into SME systems, making cash flow, collections, and payment processing easier. Embedded vehicle financing helps dealers increase sales and improve customer satisfaction.

Revolut, a UK neobank, exemplifies the core principles of speed, accessibility, simplicity, and protection that traditional banks like Millennium bcp and Isbank are working to integrate into their offerings. Although they seek to enhance existing corporate banking through digital transformation, Revolut was built from the ground up with these digital efficiencies in mind, providing a comprehensive solution within a single app. All three seek to address common pain points in traditional banking and position themselves as strategic financial partners—whether through cocreation with clients (Millennium bcp), extensive digital upgrades (Isbank), or a digital-native approach (Revolut).