5 min read

The Temenos Regional Forum ASEAN 2024 was kicked off by Temenos’ Ramki Ramakrishnan, managing director for Asia Pacific, Will Moroney, chief revenue officer, and Comac Flanagan, product director, who together shared the company’s client- and innovation-focussed priorities and initiatives for the year.                                                                 

Four major areas were highlighted. Firstly, the integration of generative and explainable AI, emphasising responsible practices for AI-generated insights and decision-making. Secondly, advancements in SaaS banking, offering flexible, scalable, and secure deployment options. Next was Temenos Positions, a composable architecture enabling tailored customer experiences. Lastly, the Temenos Leap initiative was unveiled, aimed at rapidly modernising banks’ technology stacks, expediting cloud migration, and enhancing operational efficiencies.

The two-day event on 27 and 28 August attracted over 200 banking professionals from ASEAN and South Asia. It provided a forum for discussing the future of banking in the region, as well as an opportunity for Temenos to showcase innovations unveiled at the Temenos Community Forum in Dublin, Ireland, in May. 

The industry keynote panel, moderated by TAB Global president and managing editor Foo Boon Ping, provided valuable insights and strategies for navigating today’s rapidly changing financial landscape. This exceptional panel brought together top-tier banking leaders and innovators, including Yosamartha, director of Payment System Policy Department at Bank Indonesia; Rully Feranata, SVP of IT strategy and governance at AlloBank Indonesia; Ravi Srinivasan, business transformation director at Deloitte Singapore; and Frankie Wai, business solutions director for APAC at Temenos.

Panellists emphasised the importance of securing and modernising payment infrastructures, as well as ensuring that non-bank players’ regulatory frameworks are as strong as those of traditional banks. The dialogue then explored the importance of improving consumer protection and digital literacy in order to foster long-term banking innovation, financial inclusion, and economic growth across ASEAN and South Asia. 

One of the key messages was about enhancing a bank’s ability to win in the market today while also building the capability to change and adapt to future disruptions—whether from financial stress, digital threats, or evolving operational demands. The panellists also underscored the significance of responding to new regulatory guidelines on banking resilience, not just for compliance, but to leverage them as a springboard for future success.

Technology took centre stage in this discussion, with a clear message that modernising legacy systems and adopting advanced technologies, such as AI, the cloud and data analytics are not just options but necessities. These technologies are critical for improving scale, efficiency and agility, enhancing enterprise-level risk management and overall customer experience.  They are key enablers for business transformation, not just modernising legacy systems alone, but also business models, culture and processes, helping banks and financial institutions navigate complex challenges now and in the future.

Aside from the panel, Foo met with several senior executives from banks and financial institutions in the region. These included in-depth discussions with Leo Koesmanto, president director at Bank Saqu (Bank Jasa Jakarta), Indonesia; Soe Sandar Aung, head of core and digital banking at Construction Housing and Infrastructure Development Bank, Myanmar; Antonio Vitor, chairman of the executive committee at BNCTL, Timor Leste; Duleep Roshan Damburae Liyanage, CIO at LOLC, Cambodia; Barani Sundaram, CTO at East West Bank, Philippines; and Cho Won June, director of information strategy and technology at J Trust Bank, Indonesia.

These conversations provided invaluable insights into how these institutions are leveraging innovation, technology, and strategy to not only survive but thrive in this dynamic financial landscape, a testament to the power of collaboration, innovation, and forward-thinking leadership.

Connect with senior banking decision-makers and industry practitioners at Finance Indonesia on 12 September 2024. This year’s theme, Innovation and regulatory excellence: Charting our future in banking, will explore the key trends shaping the industry. For more information, visit: https://theasianbanker.com/finance-indonesia-2024/    

 

industry keynote panel, banking leaders, innovators, consumer protection, digital literacy, banking innovation, financial inclusion, economic growth, financial stress, digital threats, banking resilience, Legacy Systems, AI, Cloud, data analytics, enterprise-level risk management, Customer Experience, business transformation, collaboration, forward-thinking leadership