Financial institutions have proven to be extremely resilient and are operating as normal despite the disruption caused by COVID-19. They are not just investing in simply migrating products and services digitally, but putting more importance on modernizing IT architecture, utilizing big data, strengthening customer engagement and monetizing their digital channels.
As the industry increasingly moves into the digital world, it has to adhere to some of the same rules of engagement that apply to the rest of the society. Entire products, businesses, people and even nations are being transformed by the dynamics of the way in which the digital world is shaping the future. This includes the impact on price wars, the advent of 5G, artificial intelligence, machine learning and devices are reconstructing relationships and a revolution of financial services is underway.
The Asian Banker Financial Technology Innovation Awards programme is designed to recognise annual achievement as well as identify emerging best practice in the implementation of technology in banking operations. The programme for 2020 has documented some of the best practices demonstrated by various financial institutions and their preparedness to compete and win in the post COVID-19 digital world. To celebrate the achievements of these top performing institutions, the Financial Technology Innovation Awards ceremony will be held virtually on Wednesday, 28 October 2020.
As part of the ceremony, there will also be a dialogue session in which the senior industry executives will share their insights and views on the current themes that are reshaping the financial services industry.