Untapped markets: pioneering the future of finance beyond traditional banking

Brands must shift from running campaigns to building platforms.

Disruption, differentiation, and development- the three d's that are shaping the banking and finance industry.

These are just some of the nuggets of wisdom shared by experts and analysts in the Asian Banking & Finance Summit 2023, held at Sofitel Singapore City Centre.

The afternoon session was attended by 70 people across two tracks and eleven sessions, panel discussions, and speeches.

Dynamic pricing

Simon Kucher's Silvio Struebi kicked off the Brand and Marketing track with a discussion why dynamic pricing will allow you to capture more value.

He noted the differing price thresholds of customer segmentstech savvy millennials, gig workers, urban professionals, for example.

"One of the commonalities of successful digital products that are profitable is that they focus on segments that are willing to pay for services. They offer these segments more high margin products," Struebi noted to attendees.

Amongst benefits that banks can enjoy with dynamic pricing include increased revenue, an enhanced customer experience thanks to personalised pricing that cater to their individual needs, and improved efficiency and increased responsiveness to the market.

At the Technology track, Ravi Kanteti, associate partner, financial services, enterprise technology for Bain & Company, delved into winning business models for wealth management- and in particular, the underserved mass affluent (MA) market.

To provide better wealth services to the MA market, banks and financial institutions must first recognize one curious phenomenon about their behavior: that it is composed of paradoxes.