What are the strategies to remain ahead of the curve and sustain a competitive edge?
Banks and financial institutions need to recognise the growth opportunities stemming from digital technologies to initiate new platforms, new value propositions and intelligent business models.
The ability of financial services providers to identify, develop and strengthen the usage of right technologies will determine who would ultimately gain the much-coveted competitive edge. New technologies and disruptive innovations are reshaping and redefining the way financial services are structured, provisioned and consumed.
Future of financial services will be guided and defined by “ABCD”
“ABCD” AI, Blockchain, Cloud Computing and Big Data – will be the decisive technologies for reshaping the entire financial industry. The future belongs to those organisations who are able to leverage new technologies such as AI and Blockchain to offer better services to meet ever higher customer demands and expectations.
Bringing Deep Tech to Business Applications
One notable example of these leading technologies is Smart Lending solution, which is the first AI solution in the financial industry that provides the full coverage of a loan process, from application to review and approval. The solution introduces the independently developed micro expression recognition fraud identification technology in the credit review link and integrates tens of cutting-edge technologies such as AI and big data. This technology has helped SME banks minimise risks, optimise experience, reduce costs and improve efficiency.
Customer-Centricity at the Heart of Technology
We all wish we could understand our customers more comprehensively and accurately. The bottleneck is either insufficient or poor data quality. How do we break data silos and make it easily accessible and useful to the business?
Technology comes to the rescue here in the form of e-KYC. The e-KYC system builds a comprehensive customer portrait with help of sophisticated AI models, then recommends more suitable products, which will improve customers’ experience.
Artificial Intelligence innovations such as facial recognition, microexpressions, voice print and AI-based credit risk control are helping the institutions to serve their customers well.
Future Technology Trends & Application in Financial Services
Do you wish to know how to best manage the portfolio of technology assets to deliver positive impact to your business?
- Head of Applications
- Head of Forex Trade in Technology
- Head of Private Banking
- Head of Retail/SME Lending
- Head of Risk
- Head of Supply Chain and Trade
OpenGov is pleased to bring a unique, one of its kind, breakfast insight session aimed at imparting knowledge on some of the advanced technical capabilities that leverages AI, blockchain, biometrics and cloud computing to support banks and financial institutions on their journey of innovation to not only better serve their customers, but also to do it in a more cost-efficient
This exclusive Breakfast Insight will discuss:
- How the powerful technologies of AI, Blockchain, Cloud computing and Big Data could fuel innovation in your organisation
- How will AI enable hyper-personalisation to become a reality
- How to leverage technology to create a data culture and data governance model to enable real-time decision-making that is backed by reliable data
- How administration of trade finance through blockchain will reduce costs and increase certainty of ownership at any point in time
- How blockchain will help implement paperless contracts, smart contract judgment, compliance verification, and financing risk assessment
- How to monetise data and transform it into one of your critical business assets in a secured manner
- How biometric identification technology would help in smart customer service and help in reducing fraud risks
Risk Control & Governance ManagerBarclays
Deputy General ManagerRaiffeisen Bank International AG
Vice President - Data StewardGreat Eastern Life Assurance
Head Enterprise ArchitectureNTUC Income Insurance Co-operative Ltd
Head IT Security Group TechnologyCIMB Bank
Executive Director, Big Data Analytics CentreUnited Overseas Bank
Senior Vice President, GCG Core Infrastructure ServicesCiti Bank
Vice President, Risk Control & GovernanceBarclays
Regional Head – Trade BCUDeutsche Bank
Director Commercial & Global Banking, Group ComplianceStandard Chartered Bank
Head, TD, Solution Design and Tool EngineeringStandard Chartered Bank
SM ComplianceHong Leong Bank
Senior Vice President, Group AuditUnited Overseas Bank
Vice President and Head of Trade Finance
Deutsche Bank, Australia & NZ
Group Managing Director and Editor-in-Chief
Contact person: Ellen Quek
Phone number: +65 6303 0683