China Merchants Bank utilised emerging new technologies - artificial intelligence, biometrics and big data, integrated with social media channels, with the aim to improve customer experience and boost its credit card business growth.
Recently appointed chief executive officer of BankBazaar International, Vipin Kalra, shares his views on emerging trends, changing operating models in the financial services industry, and key challenges, as he drives the international expansion of the online marketplace company.
Disruption and disintermediation from new market players are forcing banks to realise the urgency of rethinking futuristic strategic models and redesigning processes towards frictionless customer journey.
Spurt in initial coin offerings over the last two years, with start-ups raising millions in minutes, have raised excitement and regulatory attention amidst fear of “bubble” and potential losses. This crowdfunding mechanism is still evolving towards more maturity, transparency and stronger market players.
Vladislav Solodkiy, managing partner, Life.SREDA, talks about key issues and challenges to financial technology growth in Asia and existing infrastructure gaps that hinder the scaling of fintech in the region.
New proofs of concepts have emerged in blockchain as the industry tackles various impediments to its successful adoption. The technology initiatives would need to be complemented with stronger collaborative efforts and interoperability for future growth.
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