Given just how popular banks are, savers and borrowers are unlikely to shed a tear when the lenders’ WhatsApp moment arrives. Financial transactions will go the same way, and Asia may lead the trend, rather than following it a decade later. Photo: BloombergSingapore: Asian banking is on the cusp of a WhatsApp moment. Most of it, however, will be a consequence of the price erosion that will result from banks trying to protect their turf. Banks in the Asia-Pacific region, responsible for 46% of the global industry’s $1 trillion in profit last year, should brace themselves for a storm, says McKinsey.

Source: Mint July 04, 2016 07:07 UTC