Chinese banks could improve their bottom lines with AI adoption, experts say [Yahoo! Finance]
INDUSTRIAL & COM UNSP/ADR (IDCBY)
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Source: Yahoo! Finance
revenue streams, as banks grapple with challenges ranging from a slowing economy to a struggling property sector, according to experts. "For net interest income, banks are at the mercy of the central bank and the amount of liquidity the central bank allows into the banking system," Emmanuel Daniel, founder of the Asian Banker, a financial data services provider, said at the Future of Finance China Conference in Beijing on Friday. "To reduce their reliance on net interest income, [banks need to] increase their fee income." The real challenge is to increase the amount of fees that banks charge customers, he said, adding that AI could lift banks' fee-based income to as much as 40 per cent from 30 per cent currently. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The business model of
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