"Automation needs stringent control to avoid failing at scale"

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:

  • Power of connectivity and data has democratised finance
  • Leveraging digital transformation should be customer-centric
  • The core strategy for more financial inclusive approach should centre around mobile
  • Creating effective plans to balance cybersecurity risk and compliance.
  • Automation requires stringent control to avoid failing at scale
  • Leveraging contextualised and personalised insights via digital platforms to improve customer experience.
  • Providing customer-centric solutions should come with managing risk at the forefront

Some of the interesting discussion points:

Guests include:
Colin Richard Dinn

Executive Vice President, Head of Enterprise Technology and Operations , Security Bank

David Chan

Chief Information Security Officer, Hang Seng Bank

Dick Ho

Deputy General Manager,(Customer Management), Bank of China (Hong Kong)

Graeme Milroy

Risk Advisory Partner, Deloitte (Hong Kong)

Kitti Kosavisutte

SVP, CISO, Bangkok Bank

Lito Villanueva

EVP & Chief Innovation and Inclusion Officer
Rizal Commercial Banking Corporation (RCBC)

Matthew Talbot

Head of Financial Services, APJ, ServiceNow

Tobias Gondrom

Chief Information Security Officer, UOB

Voranuch Dejakaisaya

Chief Information and Operations Officer,
Siam Commercial Bank

Yvonne Cheong

Head of Digital Risk - Digital Business, OCBC Bank

Hosted By:
Foo Boon Ping

Managing Editor, 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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