In the past year, the banking sector has increasingly embraced digital innovation and artificial intelligence, marking a pivotal shift in service delivery, security protocols, and analytical capabilities. Acknowledging these advancements, Global Finance has unveiled its 2025 Innovators list for the Asia-Pacific region, showcasing exemplary institutions that are redefining the financial landscape through technology.
Taipei Fubon Bank stands out as the Most Innovative Bank in the Asia-Pacific, having launched IntelliChat, a generative AI-enabled chatbot aimed at enhancing customer service. This initiative has significantly reduced wait times for account inquiries, improving the retail banking experience. Prior to its implementation, customers faced an average wait time of 27 seconds to connect with customer service; this has now decreased to 20 seconds. Furthermore, the bank has seen a rise in call volume—from 176 to 208 daily calls—indicating increased engagement from customers who benefit from this efficiency.
The bank’s technological integration extends beyond customer service; it has also transformed its marketing strategies through LeikaAI, an in-house tool that streamlines audience selection. This AI solution has replaced more time-consuming manual processes that previously required several days for completion. LeikaAI can now generate accurate customer segments in approximately 20 minutes, demonstrating the potential for AI to enhance operational efficiency in financial institutions.
In addition to these innovative customer service enhancements, Taipei Fubon Bank has revamped its mobile banking application. This updated version integrates a range of services, including banking, securities, property insurance, and life insurance. With the application of predictive modeling, the app now offers users personalized recommendations tailored to their financial needs.
Following closely, Kasikorn Business-Technology Group (KBTG) of Thailand has earned recognition as the Most Innovative Financial Technology Company in the Asia-Pacific. The group undertook a challenging endeavor to construct a new core banking system without disrupting existing operations. This complex task involved updating more than 2,000 applications and interfaces, a feat executed by a dedicated team of 1,000 employees over 22 months.
The new system, which became operational in October 2024, has enhanced Kasikornbank’s transaction capacity by 50%, supporting up to 60 million customer accounts. The surge in mobile banking transactions prompted this upgrade, as one of the bank’s key applications, K PLUS, boasts 23 million users and is responsible for 30% of all financial transactions in Thailand.
On a broader scale, several innovations emerging from the Asia-Pacific region are making waves in global finance. China Central Depository & Clearing (CCDC) has implemented an Intelligent Risk Prevention Solution using advanced algorithms to optimize collateral management in the bond market, the second largest globally. This solution utilizes robotic process automation and optical character recognition technologies to eliminate manual processes, resulting in a reported 50% improvement in operational efficiency. Additionally, it has reduced the risks of human error while maximizing resource allocation, enabling CCDC clients to use up to 20.9% of their holding assets as collateral—an impressive statistic aimed at enhancing liquidity.
Taiwan’s CTBC Bank has also ventured into green finance with its AI-Powered Green Fintech initiative, which addresses the critical challenges financial institutions face in managing Scope 3 greenhouse gas emissions. This platform, developed in collaboration with Evercomm—a provider of digital sustainability solutions—enables banks to accurately measure the carbon impact of their financial decisions and track sustainability goals. Utilizing publicly available ESG data alongside robotic process automation tools, this initiative aligns with efforts spearheaded by the Monetary Authority of Singapore to integrate AI in green finance.
Further innovation is evident at DBS Bank, where an AI-driven Customer Service Officer (CSO) Assistant has been introduced, designed to alleviate some of the burdens faced by customer service personnel. Launched in August, this tool summarizes live customer calls and incorporates an email triaging system that has already prioritized over 48,000 offline messages. According to DBS, this innovation has improved efficiency among approximately 1,000 CSOs across Singapore, Taiwan, Hong Kong, and India, reducing the average time taken to resolve a customer call by 5%.
OCBC Bank has made strides in payment processing through its collaboration with the Land Transport Authority (LTA) of Singapore to implement a blockchain-based solution for disbursing advance payments to contractors. This system facilitates immediate payments once smart contracts confirm that the established conditions have been met, enhancing transparency, security, and traceability in transactions. To date, over $22 million has been distributed to LTA’s principal and subcontractors, signifying significant progress in utilizing blockchain technology to streamline financial operations.
The wave of innovations across these Asia-Pacific institutions illustrates a broader trend in the global finance sector towards digital transformation and sustainable practices. As financial players continuously adapt to the demands of a rapidly evolving landscape, the implications for customer service, operational efficiency, and sustainability are profound, paving the way for a more resilient financial ecosystem. The emphasis on technological advancements—ranging from AI and blockchain to automated customer service solutions—not only enhances service delivery but also aligns with the increasing regulatory and societal push towards sustainable finance.
The future direction of banking in the Asia-Pacific region will likely continue to be shaped by these innovations, as institutions strive to enhance their competitive edge. As they adopt and integrate new technologies, the potential for improved customer experiences, operational efficiencies, and a focus on sustainability will play an essential role in defining the next generation of financial services.