Fintech
FinTech LIVE Dubai – Keynote by CIMB Vice President for Digital Innovation
Joining Neil Perry, Group Editorial Director at BizClik on the virtual stage of FinTech LIVE Singapore, Khwanchai Huailuk, Vice President of Innovation (Digital Banking) at CIMB, delivers the first keynote of the day discussing the transformation of banking operations.
Banking trends and the role of fintech
Starting his talk with an overview of the current landscape of digital banking and fintech innovation, Khwanchai defines fintech as technology that facilitates core financial services by improving user control, security and effectiveness of financial transactions.
“Fintech has challenged the status quo in the financial sector,” Khwanchai said. “Fintech has made financial services more accessible.”
It also provides examples of fintech solutions in various segments including payments, wealth management and cryptocurrency and highlights the benefits of collaboration between banks and fintech companies for mutual benefit and innovation.
By making financial services more accessible, especially in low-income populations, fintech solutions offer numerous benefits including personalization, efficiency, cost reduction, secure, real-time transactions, and streamlined lending processes.