Addressing data gravity to build an insight-driven business

In this RadioFinance session, we will discuss how leveraging data insights in business, and data-driven decision-making is a priority to set the FI leaders’ capabilities and strategies, as well as deep dive into data optimisation challenges and strategies.

Digital transformation to meet the evolving customer experience is an integral focus of financial institutions (FIs) in Asia Pacific (APAC). FIs see data as a driver of innovation that plays a fundamental role in digital transformation. The use of data analytics and insight-driven decision-making is gaining priority among businesses and organisations. With the constantly increasing volume of data generated with advanced technologies and interconnected systems, the importance of data-driven optimisation is now vital for continued growth.

The adoption of technological advancements has changed the way financial organisations operate with an increasing focus on agile real-time insights. The lack of data governance and integrated data management alongside data engineering and architecture has resulted in difficulties in data availability, collection, usability, integrity and security. In addition, incumbents realise the complexities of utilising distributed and siloed data with limited real-time streaming capabilities and fully leveraging unstructured and high-volume data. For greater business efficiency and agility, banks incessantly seek more scalable infrastructures that can address these challenges and enable effective digital strategies and emerging technologies for intelligent services.

Thus, traditional players have started to transition towards hybrid and multi-cloud strategies to quickly respond to changing market conditions. Moreover, they are shifting their focus towards democratising, integrating, and transforming the data architecture for scale and effective business insights. Data-centric architecture on the cloud, and at the edge of business is being leveraged to develop and innovate enterprise data capabilities, improve real-time decision-making, mitigate risks, and increase revenue streams. Along with this advanced analytics capability, enabled with artificial intelligence (AI), and machine learning (ML) algorithms are major components in accelerating data-driven decision-making in a secured, scalable, and efficient way.

In this RadioFinance session, we will discuss how leveraging data insights and data-driven decision-making is a priority to set FI leaders’ capabilities and approach. It will also deep dive into data optimisation challenges and strategies.

The following are the key discussion areas:

  • Key insights from the commissioned Forrester Consulting study on “The Future of Data Agility in The Financial Services Industry”
  • Identifying key challenges in data gravity and digital scalability
  • Best practices in leveraging cloud and open-source data science technologies in optimising data and building insight-driven business for faster innovation and growth
  • Utilising decentralised data platforms for governance, cut processing time, maximise revenues and mitigate related risks
  • Embedding data analytics and intelligence in creating a data-driven culture
 
Guests include:
Chalee Asavathiratham

SEVP, Chief Digital Officer
Siam Commercial Bank

Colin Richard Dinn

Chief Information Technology and Digital Transformation Officer,
Vietcombank

John Howard D. Medina

Chief Operating Officer,
PBCOM

Christopher J Tan

Global Software Partners Director, APJ, Intel

Danny Mu

Principal Analyst,
Forrester

Andreas Spanner

Chief Architect Australia and New Zealand,
Red Hat


Session Host:
Neeti Aggarwal

Senior Research and Consulting Manager,
The Asian Banker

Supported by:
About The Asian Banker RadioFinance:

The Asian Banker RadioFinance aims to enhance understanding of the finance industry globally by bringing together thought leaders, industry experts, practitioners and futurists to examine current, critical issues through a discussion facilitated by visual and web-based platforms. Through the use of interactive technology, participants do not have to take time out from their crowded schedules or leave the comfort of their own desks.

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