The global use of Renminbi is influenced by geopolitics, macroeconomic conditions, infrastructure, and technology

Nubank has reported its first full-year profitability since its launch in 2014. Nearing 100 million customers, the bank has set new benchmarks in revenue

Alipay retains its top spot in this year’s ranking, while Apple Pay climbs higher with its expanded financial services ecosystem

JPMorgan Chase, China Construction Bank, and Emirates NBD claimed leading spots in this year’s ranking, with JPMorgan Chase standing out in retail financial performance and digital customer base

The top 10 digital banks saw revenue grow from $41 billion in 2022 to about $49 billion in 2023

A prominent player in Southeast Asia’s digital finance sector, the group saw significant growth in 2023, cutting losses by 29% despite a challenging economic environment

Surveyed institutions continue to adopt RMB in cross-border trade, driven by cost benefits and foreign exchange risk management

Philippine digital banks saw rapid growth in 2023 alongside mounting concerns over credit quality as gross NPL ratios soared

Fintech funding dropped 42% in 2023 due to economic challenges, yet top firms like Stripe and Investree saw significant investments, demonstrating resilience amid market volatility and uncertainty

The Indian central bank’s disciplinary action and consequent threat to Paytm Payments Bank’s licence is a lesson for the industry that growth and innovation cannot be at the cost of compliance

The majority of institutions surveyed attribute their increased Renminbi usage to China’s investments and partnerships facilitated by the Belt and Road Initiative

Rising borrowing costs, reduced demand, and stringent credit barriers have dampened growth prospects, and these factors are unlikely to shift given the current economic climate