Thu Sep 9 HKT (10 months ago)
In your timezone (EDT): Thu Sep 9 3:00am - Thu Sep 9 5:00am
Financial services firms in the Asia-Pacific region are transforming to prepare for growth. Amid soaring demands for innovation and technologically fuelled improvements, in recent years many institutions have been accelerating their investments in fintech to augment their products and services.
According to the Fintech and Digital Banking 2025 (APAC) IDC report, 60% of banks in the region will use artificial intelligence (AI) or machine learning technologies to make data-driven decisions by 2025, compared to 48% in previous years. Predictive analytics and the use of big data are also allowing businesses in the industry to vastly improve their customer experiences, building trust, and reliable relationships at the speed of digital. Investments in digital channels have paid off, boosting revenues with new products, streamlining operations, and connecting with new customers, technologies, and partners.
As part of this transformation, banks are moving towards open banking, which provides new services to customers but also incurs high cyber-security risks. How do banks ensure their customers’ data is protected and secure? Balancing technology spending across legacy migration, compliance with evolving regulations and improved risk management becomes key. How do financial institutions stay ahead of the game?
Join The Economist Events for Double down on fintech and digital: a case for Asia Pacific financial services, sponsored by IBM. An exclusive, invitation-only roundtable discussion to join The Economist Events for an exclusive, invitation-only roundtable discussion to:
• Meet and network with your peers from other notable banking and financial institutions.
• Examine successful innovation case studies on how financial services companies are using data, AI, and other new forms of technology to drive cost efficiencies, expand revenue opportunities and deliver excellent customer service.
• Explore how technology can unleash the power of the financial services ecosystem and simultaneously address data protection and compliance challenges in the region.
• Brainstorm how institutions can prepare to integrate new fintech services and what financial leaders must do now.
General Manager, Global Banking Industry, IBM
China Business, Finance Editor, The Economist