Banks flip the tables on disruption by becoming the disruptors themselves
Asian Banking & Finance|Issue 114
Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.
Banks flip the tables on disruption by becoming the disruptors themselves

Amidst an era of disruptions– from generative AI to a worsening talent dilemma, and rising costs– one way that banks can stay ahead is not just by aligning with disruption, but by choosing to be the game changer themselves.

Speaking at the Asian Banking & Finance Forum held at Ho Chi Minh City, Vietnam, Bain & Company partner Sen Ganesh enumerated the different “game changers” that is impacting the banking and insurance industry, as well as the different ways that financial institutions are adjusting their strategies to keep up with these disruptors.

“What we’re seeing now is that, as the pace of technology has been increasing and developing very quickly, most organizations are having to balance two forces. The first is really around the technical debt that’s built up over the last few years. Secondly, we’re seeing a lot more pressure on cost,” Ganesh told attendees during his keynote address.

Three strategies

To balance these, FIs have adopted three distinct strategies. One is to be the disruptor themselves.

Bu hikaye Asian Banking & Finance dergisinin Issue 114 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Asian Banking & Finance dergisinin Issue 114 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

ASIAN BANKING & FINANCE DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Embedded Finance, Digital Banks To Drive SEA's Fintechs
Asian Banking & Finance

Embedded Finance, Digital Banks To Drive SEA's Fintechs

Embedded finance, partnerships, and digital banks will be the three defining trends shaping Southeast Asia’s financial technology (fintech) landscape in the future.

time-read
1 min  |
Issue 114
UBC Aims For Top 5 In Sri Lanka Banking
Asian Banking & Finance

UBC Aims For Top 5 In Sri Lanka Banking

Chairman Nirvana Chaudhary is prepared to lead amidst a national finance crisis.

time-read
3 dak  |
Issue 114
What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?
Asian Banking & Finance

What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?

EVs, takaful insurance, and its proximity to Singapore attract investment activity, according to a BofA executive.

time-read
3 dak  |
Issue 114
How HomePay Is Combating Renovation Scams In Singapore
Asian Banking & Finance

How HomePay Is Combating Renovation Scams In Singapore

Money is put in an escrow account and disbursed when milestones are reached.

time-read
3 dak  |
Issue 114
Will Property Woes Continue To Weigh On Chinese Megabanks?
Asian Banking & Finance

Will Property Woes Continue To Weigh On Chinese Megabanks?

This year, Chinese megabanks are facing two big hurdles: the government’s mandate that may force banks to take on more risks in the name of propping up China’s embattled property sector; and declining credit demand and interest rates.

time-read
2 dak  |
Issue 114
How Have Banks' Wealth Management Pivots Played Out In China?
Asian Banking & Finance

How Have Banks' Wealth Management Pivots Played Out In China?

There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.

time-read
5 dak  |
Issue 114
Why Singaporeans are okay with locking away over $4b of their money
Asian Banking & Finance

Why Singaporeans are okay with locking away over $4b of their money

Customers can only access 'locked' money with a physical card or by visiting a branch.

time-read
2 dak  |
Issue 114
OCBC builds the the next pipeline of talent
Asian Banking & Finance

OCBC builds the the next pipeline of talent

Lim weaves in support for women bankers to broader industry talent shortage.

time-read
3 dak  |
Issue 114
Banks flip the tables on disruption by becoming the disruptors themselves
Asian Banking & Finance

Banks flip the tables on disruption by becoming the disruptors themselves

Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.

time-read
3 dak  |
Issue 114
Basel III capital hike is not a problem for APAC
Asian Banking & Finance

Basel III capital hike is not a problem for APAC

Most of banking jurisdictions in most Asia Pacific markets should be able to absorb the moderate increases in capital requirements stipulated under the final Basel III standards.

time-read
2 dak  |
Issue 114