Winning Digital Revolution and Financial Technology in Banking - Workshop

Wednesday, 29th August 2018

09:00

Welcome Note and Introduction by David Gyori, CEO, Banking Reports

09:30

Payments revolution: Payments to Serve Financial Inclusion
Indonesia’s financial inclusion has made an outstanding progress across East Asia and the Pacific by bringing its citizens into the formal financial system in the past three years. The inclusion of unbanked Indonesians has been mostly due to the digital opportunity coming from the transition to emerging digital payments. In this session, you will learn how FinTech oriented services providers such as Go-Jek are making a change in the financial services industry and how financial institutions should follow the digital wave to keep being relevant.

• Ways for banks to participate in emerging payments: competition, cooperation, coopetition
• Payments as parts of ecosystems: GO-PAY, Alipay, WeChat Pay versus Apple Pay, Samsung Pay and others
• Regulatory framework to increase interoperability and interconnectivity between transaction channels
• Fraud in transactions, data privacy and the payments security: New risks, new solutions
• Micropayments: embedded payments in smart contracts and instant settlement

10:45

Networking break

11:00

Emerging digital channels: Role of new channels in financial services
The internet has become a crucial part of a modern society’s life due to its ability to facilitate communication and structure contemporary society. Indonesia has the biggest number of internet users and the fastest growth among Southeast Asian countries. This opens up unprecedented opportunities for e-commerce, online travel and other online platforms that need and support digital financial channels.

• The Five Stages of channel evolution: F2F, Digital, Multi, Omni, Opti
• Social Media: Global Best Practices in Facebook, Twitter
• Global Best Practices in Website, YouTube as well as Conversational AI
• Crowdsourcing: Digital products developed through digital channels
• Pretotyping: The Four Ps of digital product development
• Smartphone Experience: The tool of aggregation in – and beyond – finance
• The consolidation of e-commerce, online travel, online rides and online media: Regulatory, Competitive, Social, Business and Marketing aspects
• Millennials: digital media daily consumers and fast learners of technological advancements
• The Internet of Things (IoT) projection for the upcoming years
• How to prevent the high risk of cyber-attacks?

12:30

Lunch

13:30

Blockchain driven financial services: Essentials
Blockchain has the potential to disrupt banking the way we know it today, transform traditional interbank and peer-to-peer payments, open up opportunities to replace existing tools for exchange of financial information. Distributed storage, arrangement and protection of financial data, private data, sensitive data, personal data, identity, passwords: pros and cons.

• Technology versus Regulation: GDPR in Europe
• Distribution versus Aggregation: PSD2 in Europe and Open Banking in UK
• Central Bank Driven Blockchain: Case Study of Mark Carney, Bank of England
• Regulatory status vs. cultural adoption: Indonesian reactions, International competition, New frontiers, Digital society’s risks and vulnerabilities, Digital excellence, India and the Aadhaar System, Estonia and the E-Stonia Project
• The concept of tokenization: Double Edged Sword in Action
• Playful quiz about the 30 use cases of Blockchain in Banking

15:00

Networking break

15:30

Innovate or die? – Winning the future of financial institutions
The digital revolution taking place in the financial industry is forcing traditional institutions to quickly innovate with some of them already late. For the first time, we see technology related risks at the top of banker concerns for the industry in Indonesia such as technology/cyber risk and FinTech disruption. In this session we will get to know key predictions for the new era of financial services.

• New players vs. new interfaces: Picking the winners
• Banking innovation strategies: Christensen Strategy, Ambidextrous Strategy, Dual Role Strategy, TRIZ Strategy, H3 Strategy, Phase-Gate Strategy
• Neo banks: Digital vs Digital Only, Mobile vs Mobile Only, Economy of Scale, Case Study: Brief Overview of 35 (!) Digital Only Banks in the UK
• Next Steps: Cashless Society, Paperless Banking, Full Financial Inclusion, New Interfaces, New Business Models

17:00

Review and Closing Summary