#Covid19# has noticeably #accelerated# the #digitisation# and #transformation# of the #BankingSector#. Craig Chu, a #Director# of #Technology# in a #FinTech# startup will share why this is and how it is unfolding and the #futuretechnology# trends in the Industry:

Indonesia’s banking sector is under ATTACK. Indonesian banks and financial firms faced roughly 214,000 cyber threats in just 24 hours. FortiGuard Labs recorded about 350,600 threat detections across Indonesia in the 24 hours to November 7, averaging four per second nationwide. Banks, insurers and other financial firms accounted for 61% of the total, more than all other sectors combined. The figures show how often attackers targeted the sector. No bank breach was confirmed by the data. In neighbouring Malaysia, attackers defaced Bank Rakyat’s externally managed website on Friday night. Officials said banking systems remained secure and reported no data theft.

IS US BANKING SECTOR IN TROUBLE? KBW Bank Index is down 13.40% from its August record. From their highs: JPMorgan is down 8.61% Bank of America is down 22.6% Wells Fargo is down 16% Morgan Stanley is down 22% Goldman Sachs is down 24% The main reason is bonds. The 10-year yield has jumped from about 4% to near 5.3% in six months, and banks' unrealized losses on their bond holdings keep growing as bond prices fall. If one sector is going completely opposite to the stock market, it is banks.

UPDATE: 🇧🇷 Brazil’s traditional banking sector is moving further into regulated crypto services. @itau has filed with the country’s central bank to register its cryptocurrency trading and custody operations under the new rules, becoming the first bank to complete the notification process. Unlike dedicated crypto providers, Itaú can use a notification process because it is already authorized and supervised by Brazil’s central bank.

Total assets of Kyrgyzstan's banking sector reached 1.5048 trillion soms (about 17.2 billion U.S. dollars) as of Aug. 31, up 24.2 percent year-to-date, the National Bank of the Kyrgyz Republic said Monday.

Integration is the best way to address complexity in the European banking sector, writes Supervisory Board member Sharon Donnery. National and regulatory constraints stop banks from competing on an international scale. The answer is more Europe, not less