Asian banks need technology investments such as AI to continue their growth momentum. The industry is robust, with 19 of the top 50 global banks home-grown in Asia. But unless these banks continue to invest in emerging technologies to drive innovations and productivity, they could be exposed to greater resilience risks in the longer term. The Asian banking world has been challenging and fast evolving due to geopolitical tensions, interest rates under stress, inclusion and microfinance needs, consumers’ increasing demand for hyper-personalised services, a deteriorating risk environment, operational efficiency challenges, and, on top of that, increasing regulatory oversight. Perceived Risks…
Author: Dr. Ashish Kakar, Research Director, Financial Insights, IDC Asia/Pacific
Author
Dr. Ashish Kakar, Research Director, Financial Insights, IDC Asia/Pacific
Dr. Ashish Kakar is Research Director for IDC Financial Insights in Asia/Pacific, where he is the lead analyst responsible for all aspects of banking and insurance research. Dr. Ashish’s own interest is in fraud and risk, resilience, customer centricity, AI/ML, retail banking, insurance, alternative investment management, cloud and infrastructure, and credit risk management. Before IDC, Dr. Ashish had over 16 years' experience in Citibank, 5 years’ experience with insurance companies, and has run his own asset management start-up for 2 years. In his last role in Citibank, Dr. Ashish managed processes across banking technology, servicing operations, and product.