Collaboration, Partnership, New Ecosystem-Building for Financial Services in the Thailand
BEING DIGITAL can no longer be your differentiator. Digital financial services has become part of what your customers expect of you, just as your competitors have already moved along their own digital journeys.
Going beyond your own institution's digital strategy is the key to your success (or survival) in the next two years. For this to happen, your bank or insurer will need to use a new set of innovation accelerators, foster new partnerships, and embrace concepts of openness and collaboration.
According to IDC Financial Insights, the "Beyond Digital" era will require your organization to:
- Build a new ecosystem of partners out of your industry. You will have to re-imagine a new value chain for your customers where banking and insurance needs to interface with manufacturing, or retail, transport or telecommunications to offer a whole new proposition of products/services to your customers.
- Support industry-focused developers and create innovation communities that are fundamentally remaking what financial services fundamentally does.
- Respond to new customer segments that do not separate "banking" from other activities in their everyday lives, so that banking (or insurance) becomes integrated to your customer's lifestyle.
- Embrace partners in an era of unprecedented collaboration, so that banks, insurers, regulators, FinTechs start-ups, tech vendors and customer advocates remake financial services as we know it.
- Break down barriers of ideas and innovation within your institution, recognizing that change does not come only from the top.
Welcome to the 2016 edition of the Fintech Innovation Summit – Thailand. IDC Financial Insights will help you once again to look beyond the current, providing you a new perspective so that you remain cycles ahead of your competition in this era of digital transformation (DX).