How Asia Pacific banks are creating personalized, inclusive banking experiences

Efma feature

31 October 2018

Efma’s latest Regional Review brings together bank executives to highlight how banks in Asia Pacific are using AI, blockchain, chatbots, mobile apps, open APIs and other technologies to put customers at the center of innovation.

Efma’s Retail banking in Asia Pacific: Customer-centric innovation for banking services report is packed with insights about the latest banking product, service and customer experience developments in Australia, New Zealand, Japan, Korea, China, Mongolia, Hong Kong, Maldives, Bangladesh, India, Pakistan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, and Cambodia. Its rich collection of exclusive interviews, case studies and innovation overviews provides insights into the key trends and drivers for growth in the region’s retail banking sector, alongside details of the strategies that are enabling banks to respond successfully to emerging challenges and opportunities.

Key executives from organizations like the Asian Bankers Association, Bank Central Asia, HSBC, Maybank, Mizuho Financial Group, Robinsons Bank, Standard Chartered Bank and XacBank Mongolia reveal how high levels of digital and mobile technology adoption and intense fintech activity across APAC are driving banks’ transformation efforts in developed and developing markets alike. They discuss why banks need to nurture a culture of experimentation to create personalized customer experiences that blend traditional and digital banking, meeting each customer on their channel of choice and extending financial inclusivity to remote populations.

With pioneering innovations from across the region showcased throughout, the Regional Review also highlights how technologies like AI, biometrics and blockchain are being used to create a seamless, responsive and personalized banking experience for every customer.

Examples include how Philippine National Bank has set up its own in-house fintech and launched a host of new products aimed at financial inclusion; how CIMB is disrupting its own business by developing customer-experience driven challenger banks; and how Siam Commercial Bank has built a digital ecosystem for universities by embedding new technologies into students’ and professors’ learning and teaching experiences. Readers will learn how OCBC Bank’s annual innovation challenge is enabling it to pilot new fintech solutions based on artificial intelligence and machine learning, how DBS is creating a culture of innovation to make banking joyful, and how UnionBank has launched the Philippines’ first fully-digital bank branch and banking chatbot. Plus, Citi reveals how opening its APIs has enabled the bank to accelerate the introduction of innovative solutions and services and bring banking to its customers, whenever they want.

“Our thanks go to the Efma members who have contributed their experience and insight to our Regional Review for the APAC region,” said Vincent Bastid, CEO of Efma. “Through their generosity in sharing their knowledge and vision they paint a vivid picture of the region’s innovative banking landscape – one that will benefit financial organizations across the region and beyond.”

Download the review

Keywords : Bank Products & Services , Business strategy/Model

Geography : Asia , Australia and New Zealand