Today, most financial institutions (FIs) in APAC are equipped with point solutions and processes to serve accessible segments like the white and blue collar working professionals readily. However, these organizations are rethinking their near-term and long-term fraud prevention strategies to succeed in digital expansion and new digital product rollouts.
Through GBG’s June 2020 market research on “Futureproofing Fraud Prevention in Digital Channels: APAC Banking & Finance Study”, key finance and banking personnel in Malaysia, Indonesia, Thailand, Vietnam, China and Australia are evolving organizations to thrive in the digital age. Findings include:
Incremental 30% of FIs are provisioning digital finance products that offer instant gratification
66% of FIs are creating sustainable differentiation to manage fraud and future-proof digital offerings through end to end fraud management
52% of FIs are locking in funds to set up a digital fraud management platform
The unbanked segment has pivoted to be a mainstream focus as fraud technology advances
Thailand, China, and Indonesia have estimated higher fraud prevention budgets than the APAC average budget baseline
Join the webinar to hear Sanjay Nandrajog, Chief Risk Officer, Mox Bank and Michelle Weatherhead, APAC Operations Director, GBG, and share holistic insights into how FIs are future-proofing fraud detection in digital channels and how born online financial institutions balance between a digital business model with multi-faceted digital financial crimes.
The top concerns FIs have in expanding digital products and channels
Types of budgeted fraud investments to pre-empt emerging and future digital fraud typologies
How early adopters are already walking the talk to futureproof fraud detection agilely
Building mindshare and digital trust with consumers from branch to online
Sustaining a 100% online business model while up against multi-faceted financial crimes
Ali has over 15 years of professional banking experienced in the management of digital channels, business development, risk management and government engagement. He held senior positions occupied as leading led roles in non-profit industry organizations and led discussions in forums. Prior to joining Mox Bank, Ali was previously employed by Garanti Bank Turkey and Standard Chartered Group Retail Banking. Currently Ali is part of the pioneer team who built Mox Bank, a fully digital Bank based in Hong Kong and continues to be the risk framework owner for Enterprise Risk Management at Mox Bank.