In this virtual roundtable, guests discussed how amid the current shift towards digital, financial institutions are focused on increasing operational resilience by automating workflows and integrating risk controls into processes to deliver better customer experience.
Voranuch Dejakaisaya, Siam Commercial Bank; Yvonne Cheong, OCBC; Colin Dinn, Security Bank; David Chan, Hang Seng Bank; Dick Ho, Bank of China (Hong Kong); KittiKosavisutte, Bangkok Bank; Lito Villanueva, RCBC; Matthew Talbot, ServiceNow; Tobias Gondrom, UOB; Graeme Milroy, Deloitte Hong Kong, debated the key issues impacting digital and customer experience transformation within the industry.
Dinn started the conversation by pointing out that value management is the key to the change process, and it must be based on the sustainable value created for customers and the bank. He also shared that sales and distribution strategy should adapt to the hyper-digitised environment and should be dynamic and customer-centric.
Tobias shared that to balance risk and compliance in an increasing digitalised environment, automation requires stringent control to avoid failing at scale. Ho shared that as the pandemic is driving change in customer onlinebehaviours,the core strategy should focus on leveraging digital customer experiencewith mobile asthe primary channel. Cheong talked about empowering customers who are skepticalabout using digital platforms because of cybersecurity concerns by giving them greater control over the process.
Roundtable guests alsoagreed that meeting the needs of the underbanked and unbankedthrough technology and innovation especially during turbulent times is about breaking barriers. They also shared the necessity of streamlining digital platforms and accelerating digital transformation to advance financial inclusion.
The following key points were discussed:
Executive Vice President, Head of Enterprise Technology and Operations , Security Bank
EVP & Chief Innovation and Inclusion Officer
Rizal Commercial Banking Corporation (RCBC)
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.