Bankers’ Challenge: Compete or Collaborate?

Bankers’ Challenge: Compete or Collaborate?

The fast changing SE Asia payments landscape reviewed

 

How can banks respond to new digital commerce ecosystems?

The consumer payment ecosystem is undergoing enormous and rapid change in the markets of South East Asia. The result is the displacement of cash by digital payments, and an opportunity for the unbanked to participate in a digital economy.

Paul Brisk will provide a view on what is happening in terms of the digitisation of payments in many markets across Asia: what are the drivers, why the market dynamics and demographics have created the ideal environment for this change now, and who are the key players leading the transformation, using Malaysia and Indonesia specific examples.

Arguably, we are not just witnessing the digitisation of payments but seeing the emergence of new digital commerce eco-systems. To date, the enablers of these digital commerce eco-systems have tended to be “tech-giants” and “fintech” organisations rather than banks.

Is there a risk for banks as the providers of traditional payment solutions and account services? The dilemma for banks is how to respond to the change – compete, or collaborate with the enablers of the new digital ecosystems? A possible way forward is Open Banking, providing an opportunity for banks and non-banks to cooperate for win-win scenarios.

 

Paul Brisk, Director at PT. Pembayaran Digital Indonesia, will share insights from his consulting experience in consumer and retail payments.

Don’t miss this track session during GPS day two!

  • GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @ThePaypers: .@everiToken platform allows anyone to “tokenize” their assets, such as buildings, company shares, or even artwork. Find ou… 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @i_am_pass: Just presented the worlds first tangible IDENTITY x DLT/ IOTA prototype in Germany for secure Identity and Access Management… 10 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @SovrinID: Read our latest Blog post: Collaboration and Interoperability on #Sovrin https://t.co/qb0MOC7OJV 10 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Yay digital banks https://t.co/SfGHxqtEaL 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @rananar: This is not cryptocurrency this is centralized eMoney. #bankofmongolia #bom #emoney #cryptocurrency #bitcoin #centralized http… 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit amazing development - Singtel and AIS debut VIA, Asia’s first cross-border Mobile Payment alliance… https://t.co/pW4UuH9Ppg 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Open Banking And PSD2 Not A Priority For Treasurers | Global Finance https://t.co/izqWeEX2Ft 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @dgwbirch: “Mr Skinner says... the UK wasted too much time developing card payment technologies, such as chip and PIN and contactless, w… 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit We had an amazing 2 day conference in KL with a packed audience! Thank you again to all who participated as well a… https://t.co/b5Dq0R0DZb 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @DeloitteUK_FS: Lenders that fail to utilise the full potential of #openbanking will be disrupted. 👀 Read our latest #FinTech blog by gu… 11 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechSIN: Austrian Government to Notarize $1.3 Billion Bond Auction Using #Ethereum https://t.co/mNKRNdSanr #Blockchain #banking #Fin 12 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @InstaPayToday: 'Sharing Payments Insights from Asia' - Take a look at our latest article on the key insights from @GlobalPaySummit in K… 12 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Congrats and shout out to our colleagues @CurrencyResearc for an excellent inaugural issue of Central Bank Payment… https://t.co/7SBApIZ2MB 12 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @dgwbirch: “In US currently, there’s no legal requirement stipulating a financial institution must make a consumer’s financial data avai… 12 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Panel discussion on #psd2 and #openbanking - influence and impact for Asia. @InstaPayToday @XMLdation @FinastraFS https://t.co/edQKTd98oy 13 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Europe isn’t the only place for open banking - Lauren Jones @InstaPayToday https://t.co/npV5e1DzcC 13 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Kah Kit from BNM sharing key initiatives to transform mobile phones to ewallets in Malaysia #regulation #paymenthttps://t.co/fd4modRGPJ 13 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Indonesia is ripe and ready for digital commerce by non banks?! @paulbrisk #banks #indonesia #payments #fintechhttps://t.co/i9FzAEXD0O 13 weeks ago
  • Also interesting
    Global Payment Challenges
    Written on 10 September '18 by
    READ MORE
    PSD2 & Open Banking - Impact & Influence for Asia
    Written on 10 September '18 by
    READ MORE
    Pre-Summit Briefing - Remittances
    Written on 4 September '18 by
    READ MORE
  • Speakers 2018