Raja Teh Maimunah: Competition is No Longer from the Bank Next Door
AmInvestment Bank Bhd CEO Raja Teh Maimunah talks to AWANI Review’s Cynthia Ng about bracing for technological disruptions to come, in the Malaysian banking sector.
Technology companies are keeping many banking chiefs up at night. Take e-commerce giants Alibaba and Amazon, for example. The tech behemoths are increasingly moving in on some of the most profitable parts of the banking value chain. Alibaba’s financial wallet Alipay, with over 400 million users, accounts for approximately half of online transactions in China. Amazon, meanwhile, has been providing loans for small and medium-sized companies. Japan’s largest e-commerce site Rakuten’s credit card unit is leading volume transactions in the country, citing its...
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