Recovery in a Different Way:
A New Cycle of Tech Investments
in Financial Services

Hong Kong & Taiwan | August 27, 2021




Overview


Recovery in a Different Way: A New Cycle of Tech Investments in Financial Services

It is time to talk about recovery! IDC Financial Insights brings to Asia/Pacific our most recent work on the frameworks that banks, insurers and capital market firms are using to find success in 2021 and beyond. The research highlights that there are several areas of investments that are heating up: cloud-based core system migration, the reinvigorated Open Banking agenda, customer-centric business processes, continuous innovation principles and the trifecta of privacy-identity-trust.

This shows us that financial institutions are set to go beyond crisis recovery, to attain new capabilities never seen before in the industry. These new business and tech capabilities point to how financial services can be brought to a whole new competitive playing field.

At the IDC Conference: Financial Insights Hong Kong and Taiwan, we will manage the recovery like a game of chess. We are always on the lookout for an opportunity to improve our position, and the pieces need to be developed to the best squares. It's time to prioritize and focus on the most important technology investments.

IDC Hong Kong & Taiwan Conference: Financial Insights Agenda

Time Event & Speakers
09:30

How a Crisis Changed Us for Good

Michael Araneta
Associate Vice President, Head of Research & Consulting, IDC Financial Insights Asia/Pacific

IDC Financial Insights Head of Research, Michael Araneta, presents the biggest themes driving the new cycle of tech investments in financial institutions in Hong Kong & Taiwan, based on IDC research findings. These drivers of investments are organised into revamping legacy applications and processes, rebuilding internal capabilities to re-accelerate digital transformation, and reinvestment into capabilities to sense and respond to the new realities of our times.

We see the return of trends sidelined because of the challenges of the pandemic – all taking a new spin: everything from Open Banking and Open APIs, data-to-digital, sustainability and ESG compliance, and risk and finance integration – we see massive reinvestment in these great programs to "transform," making up for lost time.

09:45

Data Resilience in Dynamic World

Eric Gao
Research Director, IDC Financial Insights China Practice
Qinghong You
Director of System Engineering Greater China, ASEAN & South Korea, NetApp
A crucial aspect of being digital resilient is data resiliency. With the acceleration of enterprise digital transformation efforts, organizations are calling for enhanced capabilities for storage and data management of cloud-native applications as they migrate to a hybrid/multi-cloud architecture environment. Find out in this session on some of the key concerns relating to data security, portability and compliance and how we can address them.
10:20

Moving Fast, Thinking Ahead: Tech Investment Priorities of Taishin Bank 超前部署: 台新銀行的科技投資重點

Michael Yeo
Associate Research Director, IDC Financial Insights Asia/Pacific
Steve Sun
Chief Information Officer and Chief Information Security Officer, Taishin Holdings

Over the past year, we have seen financial services doing more and moving faster than ever before. Taishin Holdings is no exception to this as they have been very active to implement new projects and new technologies, including Taiwan's leading pure digital bank. What are the driving factors behind Taishin’s digital initiatives? How has these driving factors shaped Taishin’s technology investment plans for 2021 and beyond? Find out in this dialogue between Steve Sun, Chief Information Officer and Chief Information Security Officer of Taishin Holdings and Michael Yeo, Associate Research Director, IDC Financial Insights.

在過去的一年裡,我們看到金融服務比以往任何時候都做得更多、發展得更快。台新金控也不例外,他們一直非常積極地實施新項目和新技術,包括台灣領先的純數位銀行。

台新的數位計劃背後的驅動因素是什麼?這些驅動因素對台新 2021 年及以後的技術投資計劃有何影響?我們將在 台新金控資訊長暨資安長孫一仕 IDC Financial Insights 研究副總監楊昔鵬之間的對話中找出答案。

10:40

Managing Innovations for Financial Services

Andy Chun
Regional Director, Technology Innovation, Prudential Corporation Asia
Eric Gao
Research Director, IDC Financial Insights China Practice
Many enterprises are already on the journey to becoming a “technology” company. IDC predicts that, by 2023, over 50% of worldwide GDP will be driven by products and services from digitally transformed enterprises. This means that every enterprise will be required to become a “digital innovation factor” over the next 3 to 5 years. 

Catch this conversation between Andy Chun, Regional Director – Technology Innovation from Prudential Corporation Asia and Eric Gao, Research Director of IDC Financial Insights as they talk about the drivers of innovation, the goals behind it and the challenges in building the culture of innovation in Hong Kong.
11:05

The Digital Innovation Journey of CTBC Bank 中國信託的數位創新歷程

Michael Yeo
Associate Research Director, IDC Financial Insights Asia/Pacific
Titan Chia
Chief Technology Officer, CTBC Financial Holding Group

Taiwan’s banking industry is facing many unprecedented challenges, including customers turning to remote access and digital access, resulting in an increasing use of digital technology. At the same time, we must support the government's new policies and related economic stimulus measures.

In this new and challenging business environment, these factors pose severe challenges to any banks. Taiwan’s CTBC Bank used new technologies, new platforms, and new forms of loan models to enable them not only to cope with the large-scale increase in loans, but also to lay the foundation for new loan processing methods for the entire bank. They also adopted their unique approach to accelerate credit decision-making through the use of AI, RPA, and alternative data. Join this conversation between IDC Financial Insights’ Associate Research Director, Michael Yeo and CTBC Bank’s Chief Technology Officer, Titan Chia to find out their journey in digital innovation.


疫情衝擊影響了全球各地的運作,亞洲地區包括香港、台灣也不例外。台灣銀行業必須面對許多前所未有的挑戰,包括客戶轉向遠端通路,數位通路;造成對數位技術的使用增加。同時,必須支持政府提出的新政策以及相關經濟刺激措施。

 

在這個全新且具挑戰性的商業環境條件下,這些因素對於任何一家銀行都構成了嚴峻挑戰。而台灣的中國信託銀行巧妙地利用新技術、新平台以及新形態的貸款模式,使他們不僅能夠應對貸款的大規模增加,而且還能夠為整個銀行的新貸款處理方式奠定基礎。同時中國信託還採用了他們獨特的方式,透過運用AIRPA以及替代數據(alternative data)來加速信用決策。

 

為了解中國信託如何面臨這項挑戰,甚至化危機為轉機。IDC Financial Insights 研究副總裁楊昔鵬和中國信託金控集團技術長賈景光先生,將在本節中向大家分享這段數位創新的歷程。

11:25

Live Chat: Empower Financial Service Innovation through AI Capability and Data Management

Eric Gao
Research Director, IDC Financial Insights China Practice
Sean Lin
Sales Director & General Manager, Taiwan, NetApp
George Ng
Regional Director & General Manager, Hong Kong & Macau, NetApp
In this interactive segment, we engage you in an insightful discussion on 2 key trends that we are seeing in financial service industry from Hong Kong and Taiwan markets: 1) rise of data sharing; and 2) adoption of hybrid-cloud strategy. 
What are the challenges in terms of DevOps and data consistency when it comes to hybrid-cloud adoption? Can AI complement your hybrid-cloud strategy?
12:00

End of Conference

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