Traditional banks and financial institutions are ripe for Artificial Intelligence (AI) disruption. They sit on a treasure trove of data, giving them the potential for automation. To realise this potential, banks and financial institutions in Asia have invested in Asia have invested in technology to streamline their processes, minimise risk and boost their portfolios and profitability. The cost of falling behind and not meeting customer expectation is unthinkable.
Are banks and financial institutions in Australia prepared for this future?
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.
Australia's big banks are facing increasing competition from neobanks. These new digital banks have the potential to redesign what banking means to customer. Thus, is your bank equipped with technological offerings to stay competitive?
Being data-heavy, Australian banks and financial institutions can stay competitive and drive revenue growth by developing AI.
Bringing AI 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.
Does your bank leverage such technology to grow its business and increase its scalability?
Future Technology Trends & Application in Financial Services
- Head of Wealth Management
- Head of Private Banking
- Head of Retail/SME Lending
- Head of Risk
- Head of Applications
- Head of Forex Trade in Technology
- IT Director
- Head of Supply Chain and Trade
OpenGov is pleased to bring its unique breakfast insight session. This session will focus on leveraging AI and blockchain by banks and financial institutions to better serve their customers in a more efficient and productive way
This exclusive Breakfast Insight will discuss:
- How AI, Blockchain and Big Data can fuel innovation in your organisation
- How will AI enable hyper-personalisation to become a reality
- How to monetise and transform it into one of your critical business assets in a secured manner
- 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 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
Group Managing Director and Editor-in-Chief
Executive Director, Head of Risk Transformation
Bank of Singapore, Asia's Global Private Bank
Contact person: Ellen Quek
Phone number: +65 6303 0683