Digital literacy is reshaping people's daily life. People's expectations towards financial services are evolving. Nowadays, people expect easier and more personalized options.. Services, such as open banking, will help customers and businesses understand and manage their finances intelligently.
There is also the need to deliver operational excellence that associates people, processes, and technologies in a holistic way while aligning to the new sources of revenue and restructuring operational costs.
We initiated an online webinar through Alibaba Cloud's Project AsiaForward to lead the conversation from within the industry. We invited Nikhil Agarwal, Senior Manager of Cyber Cloud, a Key Opinion Leader (KOL) in financial services in Southeast Asia (SEA). We also invited one of our customers to join the discussion, Vince Chew, Chief Operations Officer (COO) of Cycloan. They were joined by experts from GlobalData, Dustin Kehoe, Head of APAC Tech Practice, and Andrew Haslip, Head of Content for the Asia Pacific.
The webinar began with GlobalData's study on open banking, introducing the hero of the conversation, Digital Trust, the vital element for sustainability in FSI digital innovation. Andrew pointed out an interesting fact that there are a lot of people in SEA using digital financial services but actually unbanked.
The panelists discussed:
"Trust is built on data," said Vince Chew. Vince works as the COO of Cycloan, a peer-to-peer financing ecosystem that focuses on empowering financial growth opportunities for tech SMEs and diversified investment opportunities for tech investors and enterprises collectively. He also highlighted, "Digital trust will help us lower the transaction cost, which brings cheaper access to credits for our customers. With digital trust as a foundation, we can use it as the catalyst of our innovation."
As a KOL in FSI and cybersecurity, Nikhil Agarwal pointed out, "Fraud risk management should be adopted in the core of the FS organization, not just from a compliance perspective or from an objective perspective. It should be adapted within their core organizational structure."
Watch the Full Webinar Now!
Alibaba Cloud is a top cloud provider that can enable customers in the financial industry to build financial trust on the cloud by translating their industry know-how into successful IT solutions through our robust infrastructure and best practices.
We hope to join hands with enterprises, organizations, and developers in the APAC region through Project AsiaForward, leveraging the power of digital innovation, becoming the driving force for Asia, and continuing our sprint towards business excellence.
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