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 The wallets war just got to a whole new level in Malaysia https://t.co/yfJJxICF4o #wallet #fintech #wechat 9 hours ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @reach2ratan: AliPay CEO Jack Ma Confirms Successful 3-Second #Blockchain Remittance https://t.co/8daWq8jRYB #CyberSecurity #infosec #… 11 hours ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Vote for the best out of our 10 nominees at the Florin Asia Innovation Awards! Stand a chance to win a free delega… https://t.co/9oWk6H1wn6 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Sign of the times? UOB to launch digital bank in key ASEAN markets: https://t.co/ykI5CKugGG #payments #fintech #banking 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Definitely not the way forward to encourage e-payments! Who wants to get paid in months?! Hawkers at new Pasir Ris… https://t.co/hoouDFiuXx 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Do you know about IFAA? @AntFinancial founded this alliance to dev standards on biometric authentication. Interope… https://t.co/SvGaMEiZn1 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Last 3 days for the early bird discount at Global Payment Summit 2018! Get your registrations done asap and don't… https://t.co/ybC14uK2RW 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Are cashless society just a con for big finance and payment companies? Who hates being nudged away from cash?… https://t.co/NTIUoYICmr 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Is there a fair playing field for banks and fintechs? Join our panel at GPS! Get in touch if you'd like to speak?… https://t.co/tYLKC1pyxK 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit A cashier's job is sure complex these days! Look at the plethora of payment options, bill payments, and top up for… https://t.co/1OuYuhhMD6 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @retailasiamedia: UnionPay. LiquidPay tie-up to expand QR code payment acceptance in Singapore https://t.co/2y7qJDKgWQ #retailasia #Unio 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Have an innovative solution in the #payment experience? We invite you to enter the Florin Asia Innovation Awards!… https://t.co/vQEWHm1B4J 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @SuperChargerFT: Don’t miss the chance to showcase your payment solution at @GlobalPaySummit and stand a chance to win the Florin Asia… 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit WeChat pay launches in Malaysia targeting 20million existing users! #wechatpay #malaysia #payment #wechat #wallet https://t.co/8jIUhRZ4ET 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit GPS 2018 will be at the brand new FourSeasons KL opening Aug 2018. We're excited to be in an awesome location this… https://t.co/4ggiOhe5ma 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechSIN: Rapid development for #Fintech in Singapore for the month of June Read more:https://t.co/VraTUCfmIz Subscribe here: https:/… 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit One of the world’s most prominent promoters of ICOs is calling it quits https://t.co/fFM21p5ZW8 via @markets #ICO #Mcafee 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @AusPayNet: Media Release: The Digital Economy report - our ninth milestones report reveals the shift to a digital economy in Australia… 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Interesting policy evaluation on BNM's Payments card reform framework! https://t.co/CLUS5W2sKr 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Malaysia's QR code standard by PayNet - unified experience for all? https://t.co/W3sX44AsQ3 #QRcode #Malaysia #PayNet 9 weeks ago
  • Also interesting
    Speeding up Financial Inclusion: Broadening our Social Responsibility Commitment
    Written on 15 August '18 by
    READ MORE
    Bankers' Challenge: Compete or Collaborate?
    Written on 2 August '18 by
    READ MORE
    IFAA - China's experience with biometric, authentication and standardization
    Written on 25 July '18 by
    READ MORE
  • Speakers 2018