In EY's new video Liew Nam Soon talks about digitalization, robotics and Indonesia's financial industry – compared to the other ASEAN markets.
Given Indonesia’s demographic, culture and values, there are a number of opportunities, from underserved to high net worth; from growing middle class to traditional or niche market, and with varying degrees on financial and digital versatility, Liew Nam Soon, EY ASEAN Financial Services Managing Partner, says in an exclusive interview with finews.asia.
What this means for a lot of the global and foreign banks trying to get a foothold into ASEAN is the need to provide a differentiated service offering that’s tailored to the market they are entering – such as Indonesia.
In EY's global banking outlook study this year, the top three priorities for banks are to optimize the customer channels (digitalization and self-serve), reduce cost through greater strategic efficiency and leverage new technologies like robotics for efficiency.
Within this study, majority of the respondents in Indonesia confirmed the same set of priorities in the next 12 to 36 months.
