Money20/20 Asia

Incumbent banks are building brand new subsidiaries that are digital-only banks to reduce cost base, provide enhanced offerings to customers, future proof their business and seamlessly comply with regulatory requirements. The driver is to compete with the tech giants and to a lesser degree FinTech startups. The play here over time will be to cannibalize their existing business and to gradually migrate customers across to the new subsidiary that has lower operating costs, cheaper customer acquisition and customer onboarding. The key source of value here is to capture, store and extract data centrally.

This session will provide a deep dive on the cost base of incumbents banking operations vs digital only banking products.