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>> Discover: WSBI Asia-Pacific Regional Group
HONG KONG, 17 April 2018 – Banks
throughout the Asia-Pacific region are riding the digital wave to become even
closer to their customers, a group of retail-focused banks meeting said today
during the first of a three-day WSBI Regional event in Hong Kong.
Called “Savings and Retail Banks in the Digital Age:
Developing a winning strategy”, WSBI members from Europe and Africa joined this
year’s annual meeting to enrich the exchange on Asian success.
to the ‘Global
Payments Innovation Jury 2017’ report, Asia is tops when it comes to
digitally driven banking breakthroughs. Asia has attracted more funds in FinTech
investments than in North America and Europe, partly driven by the rapidly
expanding middle class and ‘digital natives’ who have enthusiasm to tap into
the latest technology.”
feel the strain from the rapidly changing digital world and have placed or will
place digital strategy to cope with unprecedented challenges, said WSBI
Managing Director Chris De Noose. Speaking at the conference, he noted, “Banking
in the ‘Digital’ era means always searching new ways to improve our locally
focused banking model.”
After the successful Innovation Workshop in Bangkok in 2017, WSBI will
take another deep dive on Day 2 of the meetings to look at the rapid
developments in Asia in banking transformation and financial technology.
Members and technology experts will look at how new technologies are
impacting the customer, the regulatory framework and banking in general. They
also explored how banks are coping with the need to embrace new business models
and technologies to enhance the customer experience and offering for consumers
and SMEs. They will also ask what banks can learn from newcomers on how to best
harness the opportunities of FinTech.
WSBI member banks have found new ways to reach out to some 1.1 billion
customers that seek banking services from them in the Asia-Pacific. In mainland
China, Postal Savings Bank of China innovates its products and service offering
by leveraging China Post’s e-commerce platform. It has also developed a
partnership with Alibaba’s major Internet finance service Ant Finance to expand
services in China’s countryside.
India, State Bank of India has launched YONO, which offers lifestyle products
in addition to banking. State Bank of India also invests in fintech start-ups.
In Japan, SMBC launched its first open-innovation base named “Hoops Link Tokyo”
that serves as a venue to hold pitch events, meet-up, and seminars with
external organizations related to the start-up ecosystem.
the occasion of WSBI Asia meeting, participants are having a look at Bank of
East Asia’s Innovation Center – I-Center, I-Hub and I-Lab. Bank of East Asia
has re-designed their branch network in Hong Kong to create new ways to win the
hearts of customers through high-tech interfaces that complement their online
and mobile offering. Bank of East Asia have invited event attendees for a special
visit to their offices in Hong Kong to learn more.
WSBI holds the meetings to press the
point that there is no secret to making the most of the opportunities in a
fast-moving, digital ‘New Normal’. Banks must be in constant learning mode,
taking advantage of the moment to exchange at the three-day event to witness
the latest developments and to explore any possible synergy with attendees and
De Noose concluded: “With so much
rapid change, it’s ripe timing for WSBI members from different continents to
gather here in Hong Kong. I believe also that an overview on FinTech
development, in particular the evolving Fintech regulation coming from the
European Union, can provide our members in Asia-Pacific markets with some
insights on how a rule can foster or slay banking innovation.”
Contact: James Pieper, WSBI, +32 2 211
About the World Savings and Retail
Banking Institute (WSBI) WSBI is an association dedicated to helping its
members thrive. The institute represents the interests of 6,000 savings and
retail banks globally who serve 1.5 billion customers in some 80 countries.
WSBI focuses on global regulation that affects its members. It supports G20
aims in achieving sustainable, inclusive, and balanced growth and job creation,
whether in industrialised or less developed countries. WSBI focuses on efforts
to advance financial access and financial usage for everyone.
WSBI and the Asia-Pacific
Regional Group Representing financial institutions and federations, the WSBI
Asia-Pacific regional group looks to create and share knowledge with one another
and to raise awareness of WSBI and its positions with people in the region.
Coming from a region that comprises a quarter of G20 countries, the WSBI
Asia-Pacific Regional Group represents member banks through sharing and
advocacy work on financial inclusion, banking innovation and digitalisation.
The WSBI Asia-Pacific
Regional Group was established to bring together the members in the region to
keep close exchange on specific issues and to promote the exchange of best
practices and create business cooperation opportunities. Representing 27
financial institutions from 17 countries, group members meet at least once a
year at annual regional group meetings.
Cooperation between WSBI
members in the group ranges from contact building and exchanges of information
to the development of concrete business opportunities, at bilateral or
multilateral level. For example, members host training workshops for other
members, sign business cooperation memoranda of understanding, exchange
expertise and enter into reciprocal business partnerships.
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