Kuala Lumpur Series 2021
Artificial Intelligence and Digital Banking
Overview
Malaysia’s decision to open doors to digital (or virtual) banks comes close on the heels of other countries in the Asia Pacific region. This includes Hong Kong and Taiwan, and closer to home, Singapore, with its recent announcement to issue five new digital banking licenses. On the other hand, while data analytic operations and artificial intelligence can be daunting, it is critical for the banking sector to incorporate them into their system with the digitized world we live in. With that being said, BankTech Asia 2021 is back again this time in a webinar series on AI & Digital Banking. Don’t miss the one-day webinar learning directly from the innovators of bankers themselves to hear the various tactical strategies in the banking operations as well as exploring the technology trends impacting the banks with the advanced data and analytics capabilities.
Registration
13th Edition of BankTech Asia 2021: Kuala Lumpur Series
Opening Remarks
Opening Remarks by Chairperson - BankTech Asia 2021 - AI & Digital Banking
Speaker
Kenneth Lim
Banking and Fintech, Digital Strategy & Innovation Expert, Malaysia
Presentation
Banking AI & Data to Compose the Future
In Forrester’s report, AI was named the hottest trending technology in banking with the smoothness of the transition being overplayed with COVID’s acceleration to the banking’s digital transformation. There is widespread recognition that AI will make a difference in the customer experience as more banking software vendors and fintech partners build AI into their products, the accessibility of AI is growing.
- Overcoming the data challenge: how can banks ensure that AI has enough data to learn effectively to engage, enrich and retain customers?
- Monetizing the gold mine: how can AI be commercialized most effectively and how can banks as an ecosystem work together creating a clear AI strategy?
- Visualizing the future: what will the AI landscape look like in 2025, steps need to be taken to integrate AI with legacy systems effectively.
Speaker
Manohar Chadalavada
Managing Director, Global Head AI, Ecosystems and Open Banking, Standard Chartered Bank, Singapore
Fireside Chat
Digital Banking to Push through Innovation
Bank Negara Malaysia received 29 applications for a digital bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013, following a 6-month application period, which ended on 30 June 2021. Malaysia is expected to see multiple entries with its capital requirement being lower enabling small time players with less capital, but with innovation on their side.
- The increased pace of adoption and digitalization to handle various products for the next five to six years to ensure an integrated wealth management platform.
- How digital banks with ‘underserved’ customers are to leverage on the digitally enabled technology architecture and experience centricity model with the imposed insight-driven strategies and actions to minimize potential risks.
Moderator
Kenneth Lim
Banking and Fintech, Digital Strategy & Innovation Expert, Malaysia
Panellist
Steven Wong Weng Leong
Chief Digital & Global Banking Strategist, China Construction Bank (Malaysia)
Devabalan Theyventheran
Partner, Vietnam Country Leader & Key Accounts, IBM Consulting ASEAN
Presentation
Tip of Your Fingers: A Functional Mobile App To Delight Customer
Today’s customers are increasingly reliant on their mobile phones and they want their experiences on your app to be well personalized. Providers, fintechs and financial institutions always want to provide their customers with mobile experiences that are convenient, personalized, and seamless.
- Deciding what functionality is best to be integrated onto your application.
- Moving past the hurdles of system integrations and taking a close look at ways to leverage and action data and analytics.
- Analyzing the kind of personalization that business clients want versus the kind that consumer clients want.
Speaker
Ridwan Abdullah
Co-Founder & Strategy Lead, HelloGold, Malaysia
Panel Discussion
Applications in Bank’s Humanoids Needs Guidance Too
Most banks will turn to AI for decision-making by 2023. The existence of these various applications has assisted in
directing decisions on everything from bank loans, risk assessment, automated customer service etc.
- Connecting both front-end AI virtual assistants with back-end systems in banks.
- Banks plan to optimize its conversational AI virtual assistant in the future adjusting it to change according to
customer expectations. - Having done every operation manually for years, are banks equipped with the skills to oversee digital risk and the expertise to prevent or detect it before it makes a digital attack on customers data.
Moderator
Utpal Chakraborty
Head of Artificial Intelligence, Chief Data Scientist, Top 10 AI Thought Leaders
Panellist
Mahesh Ramamoorthy
Chief Information Officer, YES Bank, India
Jason Hsu
Former Legislator and Member of Parliament Taiwan & Vice President, Taiwan FinTech Association
Presentation
Digital Disparities: Banks Data Personalization in Serving ‘Segment of One’
As banks enter the post-pandemic world, they face a consumer landscape undergoing sudden and radical change. Customer expectations have been transformed to make “anywhere, anytime” banking the norm. Perhaps the biggest task for banks in the race to differentiate through digital, will be achieving hyper-personalization at scale and tailoring client experiences 1:1 to feel timely, relevant and credible.
- Real-time decisioning of transactional, contextual and behavioural data to understand how to attract, transact and engage clients.
- Banks “IOT (Interactions-Orchestration-Trust)” framework in orchestrating every customer interaction from “touch to trust”, curated solutions, real-time sensing and decisioning, intelligent processes and industrialized data and digital platforms.
Speaker
Neal Cross
Co-Founder and Chairman, PictureWealth, Australia & Former Chief Innovation Officer, DBS Bank, Singapore
Panel Discussion
One Stop Solution for Banking an App Now?
With everyone glued to their smartphones these days, banks have been in constant work to seek various aspects to deepen customer engagement. Being in the constant sprint with other banks as well as big tech companies for customers’ attention, the idea of having to manage it all on a single app brings the appeal and allows the capturing of data, monetizing their attention and builds a sense of dependency.
- Maintaining a huge store in trust can be tricky. How have customers entrusted the banks with all information for every incorporated service managing their wealth management portfolio with possible tradeoffs to be made when it comes to the privacy factor?
- Unlocking the value of data with analytics algorithms to increase the value of information for banks to make their way to the frontier of digital banking with a huge access to a large user database overcoming the vague siloed data infrastructure.
Moderator
Arvid Swartsenburg
Senior Director, Head Strategy & Partnerships, UOB TMRW, UOB, Singapore
Panellist
Mathew Joseph
Vice President & Head of Artificial Intelligence Labs for CIMB Bank, India
Arivuvel Ramu
Chief Technology Officer, Tonik Bank, Philippines
Presentation
Using AI To Shape Efficient Digital And Omnichannel Experiences
Providing a “white glove” experience to every customer in every channel can be quite costly, but it’s what customers are expecting and is therefore becoming table stakes. Thus, identifying ways to leverage AI to service customers in delightful ways and drive ROI across multiple channels has been the way to go especially with the digitalization in banking.
- AI’s usage to provide customers with an experience that drives business while also giving them more value.
- Understanding different omni channel solutions that are available and deciding who to partner with to drive these initiatives.
- Using AI to bridge an data gaps you might have between channels.
Speaker
Premkumar Chandra Shegaran
Lead Data Scientist, Omnilytics/Oxygen Resources, Malaysia