It is possible to have Asset Bank display different date formats across the system. UK and US style formats are available as defaults. Switching these over simply requires some changes to be made in the ApplicationSettings.properties file.

Once you have opened the file, find a block of settings like this:

# UK dates - uncomment the following for UK dates (and comment out the US block)
date-format-help-string=dd/mm/yyyy
standard-date-format=dd/MM/yyyy

# jquery-standard-date-format must be a jQuery version of standard-date-format.
If the two settings don't match then users will get form validation errors
 when they use the date picker to pick a date.
jquery-standard-date-format=dd/mm/yy
date-format-year-month-help-string=mm/yyyy
year-and-month-date-format=MM/yyyy

# jquery-year-and-month-date-format must be a jQuery version of year-and-month-date-format.
If the two settings don't match then users will get form validation errors 
when they use the date picker to pick a date.
jquery-year-and-month-date-format=mm/yy
date-format-year-only-help-string=yyyy
year-only-date-format=yyyy
form-date-format=dd/MM/yyyy
display-date-format=dd/MM/yyyy
display-year-and-month-date-format=MM/yyyy
display-datetime-format=dd/MM/yyyy HH:mm:ss
days-before-months=true

# US dates - uncomment the following for US dates (and comment out the UK block)
#date-format-help-string=mm/dd/yyyy
#standard-date-format=MM/dd/yyyy

# jquery-standard-date-format must be a jQuery version of standard-date-format. 
If the two settings don't match then users will get form validation errors 
when they use the date picker to pick a date.

#jquery-standard-date-format=mm/dd/yy
#date-format-year-month-help-string=mm/yyyy
#year-and-month-date-format=MM/yyyy

# jquery-year-and-month-date-format must be a jQuery version of year-and-month-date-format. 
If the two settings don't match then users will get form validation errors 
when they use the date picker to pick a date.
#jquery-year-and-month-date-format=mm/yy
#date-format-year-only-help-string=yyyy
#year-only-date-format=yyyy
#form-date-format=MM/dd/yyyy
#display-date-format=MM/dd/yyyy
#display-datetime-format=MM/dd/yyyy HH:mm:ss
#days-before-months=false

You can see that the '#' sign at the beginning of the line acts as a comment, so a setting with this at the beginning of the line will not be active. Remove and add the relevant '#' signs to change the format.

There are also a couple of other settings related to exporting assets that need to be changed:

# The format of dates in export files 
export-date-format=dd/MM/yyyy HH:mm:ss

# The format of dates in import files 
import-date-format=dd/MM/yyyy HH:mm:ss

Once you have made the changes, ensure that you restart the Tomcat service.