Money20/20 Asia

Many banks in China and globally are struggling to service customers effectively and efficiently across their physical and digital channels. One key challenge revolves around a legacy core banking infrastructure while others include the need to improve user experience or to leverage customer data across all channels. Competition from direct and indirect digital-first companies is intensifying as customer deposits and balances in current accounts become a key battleground. 


There is a strategic move amongst leading tech giants in China towards becoming technology providers to banks, leveraging advanced cloud technology, AI, machine learning and data analytics. Some are referring to this type of proposition as a 'super app model for banks', enabling banks to cost-effectively improve their offering to customers both online and offline in a contextually seamless way. These new platforms also allow banks to manage customer data better and significantly reduce the complexity associated with regulatory compliance management and new product development. Hear the latest developments in the digital transformation of banking and find out how banks can build 'super apps'.