Date post: | 21-Apr-2017 |
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Economy & Finance |
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SOUTHEAST ASIA BANKING TECHNOLOGY & INNOVATION SUMMIT 2016
B u i l d i n g a C o m p e l l i n gD i g i t a l B a n k i n g E x p e r i e n c e
R a j a Te h M a i m u n a hC h i e f E x e c u t i v e O f f i c e r
keynote:BANKING ONINNOVATION
140%MOBILEPENETRATION
99%MOBILEPENETRATION
SMARTPHONES28%
FEATURE PHONES
67% 30%B A N K I N GPOPULATION
< 80%B A N K I N GPOPULATION
SMARTPHONES79%
FEATURE PHONES
21%
so how do we fare?
Significant domestic cash in circulation
14th biggest remittance recipient in the world, receiving more than USD10.5 billion in 2015(up 22% from 2014)
notable attributes
Significant domestic cash in circulation
14th biggest remittance recipient in the world, receiving more than USD10.5 billion in 2015(up 22% from 2014)
notable attributes
The advantage belongs to Indonesiato achieve a larger & more rapid growth rate…through the advanced technology available today
3.2b Online Users44% of world population*
47b E-Commerce & Mobiletransactions & payments2011-2015**
4.9bConnected thingsUp 30% vs 2014***
25b
Source: *International Telecommunications Union **Capegemini ***Gartner Inc.
There are more mobile phones than there are humans on this planet
A LargeNovel
Informationin the human
genome
Annual World Literature
Production
All US Academic Research Libraries
2/3 of Annual World Production
of Information
A TinyAnt
Height ofa Short Person
Length of Auckland Harbour Bridge
Length of New Zealand The Sun’s Diameter
DATA
SIZ
EIN
PER
SPEC
TIVE
…. but if you were to combine the data from ALL digital devices…the volume of data processed in 2014 was approximately 6 zettabytes*. 6
zettabytes? :6,000,000,000,000,000,000,000 bytes.
*Source: IDC
How much data is that?
Among global banking organizations, there are three groups in terms of readiness
In Malaysia, we’re doing pretty well
*IBM Institute of Business Value 2015
You’re heading in the right direction too!
Realization of BTPN Wow to promote financial inclusion among the lower-income segmentAllowing banks to use agents as an extension of the bank in reaching out to previously unbanked communitiesReducing the burden on banking operations as banks will not need to build infrastructure in the form of branchesJoint-commitment from 3 of Indonesia’s largest cellular operators to offer affordable rates & servicesAggressive education campaign
Deposit, withdraw, transfer money and pay for goods and services with a mobile device.
Singlehandedly gave 20million Kenyans access to financial services (out of 44 million total population)Instrumental in bringing Kenya to 75% in banking population, highest in Africa, ahead of economic giants South Africa, Nigeria, Ghana.
PAKISTAN
Setup a bank account in just 3 minutes from a mobile phone. Enables users to visit any
Easypaisa shops to deposit and withdraw cash.
Users can also pay bills, transfer money, check balance, manage pin codes and more.
6 million accounts to date, making Easypaisa Pakistan’s 3rd largest bank.
KENYA
CASE STUDY 3 -
How feature phones can still
make a difference in
financial inclusion
KENYA&
“AGGREGATORS”
COMPARISON SITES
PERSONAL FINANCIAL
MANAGEMENT SOLUTIONS
Increase pressure on
loyalty & price
Become customers’
primary interface
“INNOVATORS”
SOCIAL INVESTING
APPS
PAYMENT PLAYERS
LENDING PLATFORMS
Becoming main
source of investment
advice
Attack banks’
traditional core
business
Leveraging on Big Data
“DISRUPTORS”
P2P PLATFORMS
EASY-BANKING PROVIDERS
Cutting out banks as the middle-
man
Appealing to customers
Non-banks & 3rd Party Technopreneurs are Chipping Away At Banks’ ExistenceExpect competition when landscape matures…
First of its kind remittance function in partnership with Finnet, Telkom Indonesia
Indonesian workers open virtual account and identify recipients in Indonesia
Insert MYR into cash deposit machine, select ExpressRemit function and select recipient
Insert Ringgit and machine will convert value into Rupiah
Recipient in Indonesia will receive notification, collection code
Collect funds at participating Finnet / Telkom outlet
PAYMENTEXPRESS
Peer-to-peer mobile money transfer
Send to mobile phone numbers, not bank accounts
Select from address book, key in amount, generates code
3 ways for recipients to collect:
- withdraw from HLISB/HLB ATM, no cards needed
- transfer online, directly to their own bank accounts
- to a fellow PEx user, it goes straight into recipient’s acc.
Send reminders requesting for a PEx transfer
Customer opts to pay retail/food bill with PEx+
MERCHANT PAYMENT
Merchant enters bill amount on their mobile device
A QR code is generated for the customer to scanBill amount is transferred from customers’ account into the merchant’s account instantly.