Grow Advisors challenges the audience with a fresh look at what's driving FinTech in Asia
"Despite the media hype, the conferences and buzz, we are still very much at the beginning of a long journey that will see many changes. Today, no bank or financial institution can pin a medal or claim leadership in this space, when only a tiny fraction of traditional business has yet morphed online"
Themes covered in the presentation and later discussed among the panel and audience included:
Technology will cease to provide a competitive edge, as it becomes easier to partner with technology providers who themselves are looking to scale. As more financial services go online, how will you differentiate?
The API ecosystem and how to position oneself: As a financial services player, will you seek new ways to commercialise through others online services; will you deliver additional features by incorporating other firms technologies into your own, or will you allocate budgets on in-house developments and go it alone?
In today's connected world, achieving scale and reach will have profound implications, and see many young companies fail, as they get dwarfed by others who begin the journey earlier. Those with the richest data sets will gain an edge as they expand into new services through greater consumer understanding and insight.
Technology is the marketer's and regulators' best friend, as it allows unparalleled levels of transparency and a better understanding of consumer behaviour.
Today, Grow Advisors is a leading voice in the transition to digital finance. Our methodologies have helped transform many businesses as they look to better understand the implications for the future.