The IMF could announce this week whether it wants to add renminbi to the special drawing rights basket of currencies. Some banks are betting that China has done enough.
HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
Although Australian banks are introducing their own tech solutions, start-up digital players are making inroads with the help of a new government-backed incubator.
Banks have been experimenting with Ripple’s technology, which could make payments far more efficient, but a recent report questions whether it can handle larger volumes.