Singapore has much to celebrate. Along with Hong Kong, it is regarded as one of Southeast Asia’s top financial hubs. Although these rivals match each other on many fronts, their stock exchanges do not. Singapore’s SGX is shrinking, while Hong Kong’s stock exchange continues to grow. It’s easy to see that the SGX is ailing but much harder to figure out exactly why—and how to reverse the trend.
Successful banks know who the boss is: the customer. And today’s customers, especially those who fall into the Millennial category, demand fast, error-free service delivered seamlessly. Banks confronted by the formidable challenge of adapting to both regulation and technology are also finding that up-and-coming fintechs are adept at meeting the demands of bank clients. Banks, more than they ever have before, must listen closely to their customers.
Banking across the globe has been going through a major transformation over the last few years, and this evolution looks set to continue well into 2018, and indeed beyond.