Asian Financial Services

by Hua Zhang, December 13, 2016
Industry Trends
Asia-Pacific

Abstract

Celent has released a new report titled Social Media at Chinese Banks written by Hua Zhang, an Analyst with Celent’s Asian Financial Services practice.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Use of Social Media for Marketing

3

 

Dah Sing Bank Uses Facebook and YouTube for Publicity

3

 

DBS Bank Uses Social Media for Product Improvement

3

Social Media-Based Mobile Banking

4

 

China Minsheng Bank’s WeChat Bank

4

Community Banking + Social Banking: Establishment of Social Ecology

5

Social Network-Based Credit

6

 

The Construction of Social P2P Lending by Bangladesh Bank

6

 

The Whitelist Mechanism of WeBank

6

 

Lending via Acquaintances

6

 

Development of Consumer Credit Through Social Media

7

 

Anti-Operational Risk

7

Scenario-Based Financing and Payments Based on Social Media

8

 

China Citic Bank: Scenario-Based Financing

8

 

Japan’s Rakuten Bank Supports Money Transfer Service via Facebook

8

Pure Social Banks

10

 

WeBank: Acquaintance-Based Social Bank

10

 

Alipay: Stranger-Based Social Bank

12

Transformation to Social Banking of Traditional Banks

14

 

Low-Cost Customer Acquisition

14

 

Minimalistic Product Design

15

 

Integration of Online and Offline Services

15

 

Continuous Community Integration

15

 

Profile of Users and Precision Marketing

16

Conclusion

17

Leveraging Celent’s Expertise

18

 

Support for Financial Institutions

18

 

Support for Vendors

18

Related Celent Research

19

by Wenli Yuan, December 7, 2016
Industry Trends
Global

Abstract

Celent has released a new report titled Artificial Intelligence in Insurance: Use Cases from Early Adopters. The report was written by Wenli Yuan, a senior analyst with Celent’s Insurance practice.

The report discusses real and potential use cases for leveraging artificial intelligence technology in the insurance industry.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

Artificial Intelligence in Consumer Engagement Strategies

3

 

Biometrics Authentication Mechanism

4

 

Virtual Customer Service Representatives

4

 

Robo Advisors Provide Rules-Based Advisory Services

5

 

Virtual Assistants’ Guidance on Process and Related Transactions

6

AI in Product Development and Management

7

 

Product Optimization

7

 

Price Optimization

8

 

Product Management

8

AI in Marketing and Sales

9

 

Predict Customer Needs and Behavior

9

 

Optimizing the Consumer Purchase Experience

10

 

Optimizing Marketing and Sales Strategy

10

 

Assist Sales

11

AI in Underwriting

12

 

Optimize Underwriting Model

12

 

Automate Underwriting Process

13

 

Personalized, Dynamic, and Continuous Underwriting and Pricing

13

AI in Claims

15

 

Automate Data Collection Process

15

 

Perform Damage Assessment

15

 

Optimize Claims Process to Improve Use Experience

16

 

Continuously Predict and Identify Fraud

16

 

Risk Control and Prevention

16

AI in Business Operation and Management

18

 

Contact Center Quality Control

18

Conclusion

20

Leveraging Celent’s Expertise

21

 

Support for Financial Institutions

21

 

Support for Vendors

21

Related Celent Research

22

by KyongSun Kong, November 29, 2016
Industry Trends
Asia-Pacific

Abstract

Celent has released a new report titled Fintech in South Korea: Discussions from the 6th Finance Tech World 2016. The report was written by KyongSun Kong, an analyst with Celent’s Asian Financial Services practice.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

         Key Research Questions

1

What a Difference a Year Makes

2

Financial Regulators Are Showing a Strong Interest in Fintech

4

         Celent’s Take

5

Progress Through Persistence

6

         Celent’s Take

6

Tailwind Aiding South Korea’s Mobile Payments Market

7

         Celent’s Take

8

Online-Only Banks

9

         Celent’s Take

9

From Follower to First Mover

11

         Celent’s Take

11

Future Fintech Trends in South Korea

13

Leveraging Celent’s Expertise

15

         Support for Financial Institutions

15

         Support for Vendors

15

Related Celent Research

16

Interest Rate Liberalization in China
by Hua Zhang, November 28, 2016
Industry Trends
Asia-Pacific

Abstract

利率市场化就是将利率的决定权交给市场,让市场来决定利率水平。目前,中国的金融市场上,除存贷款基准利率还受政府管制之外,其它利率都已由市场生成。而且就算是存贷款利率,商业银行也可以围绕基准利率在一个相当大的区间内自由浮动。

在新报告,利率市场化对于中国银行业的影响,Celent分析了利率市场化对银行收益、业务和风险管理方面的影响。利率市场化将会使得银行面对更大的利率波动,从而增加银行业的利率风险,使得银行对于利率风险的工具需求上升。另外一方面,利率市场化也会加剧银行业的竞争,使得存贷利差空间缩小,影响信贷的扩张、增加银行的信用风险、对于中间业务的发展需求增加。

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

概要

1

中国利率市场化的进程

2

利率市场化的影响

4

结论

7

Leveraging Celent’s Expertise

8

 

Support for Financial Institutions

8

 

Support for Vendors

8

Related Celent Research

9

by Hua Zhang, November 23, 2016
Other
Asia-Pacific

Abstract

Blockchain technology may become the infrastructure that transforms the business model of financial institutions and markets. In the securities industry, the technology will change the issuance of securities, clearing, voting at shareholders’ meetings, and equity crowdfunding. In the banking industry, blockchain will bring changes to payments, billings, and supply chain finance.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Significance of Decentralization

3

 

Types of Blockchains

4

 

Sectors Suited to Blockchains

5

Securities Industry Applications

6

 

Registration, Issuance, and Trading of Securities

6

 

Clearing and Settlement of Securities

6

 

Shareholder Proxy Voting

7

 

Application in Equity Crowdfunding

8

 

ChinaLedger

8

Banking Applications

9

 

Ping An Bank Is the First Chinese Bank to Join CEV

9

 

Payments

10

 

Lower Operating Risks in Bill Pay

10

Conclusion

11

Leveraging Celent’s Expertise

12

 

Support for Financial Institutions

12

 

Support for Vendors

12

Related Celent Research

13

Cloud Computing Strategies in the Chinese Banking Industry: Accelerating Innovation
by Hua Zhang, October 25, 2016
Industry Trends
Asia-Pacific

Abstract

到2020年,中国的银行业将有60%的IT系统部署在云端。这种云系统并不是把银行的IT系统简单地搬到云上去,而是基于云计算技术来重构银行的商业模式和IT系统。银行的渠道也业务系统都会跟以往完全不同,比如:网上银行会被取代,产品定价、风险控制也会更加依赖数据和更自动化。

在新报告,基于云计算的银行:为金融创新而生的技术架构,Celent分析了基于云的IT系统的架构、对商业模式的影响、渠道系统和核心系统。云计算对于银行来说,最大的变化就是基于数据的核心系统和基于场景化的渠道系统。银行向客户提供产品的时候,并不是像过去一样的信用卡、借记卡之类的金融产品,而是农业服务、电子商务服务、ERP之类的服务。另外一个变革将会发生在银行业的业务系统中,银行业将会更依赖于数据来营销、设计产品和营销,比如:银行会使用机器学习技术来进行客户细分和营销。

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

概要 

1

介绍 

2

场景化金融:利用云来构建无处不在的银行渠道 

4

业务系统:以数据为基础的业务系统 

8

阿里金融云 

10

结论 

11

Leveraging Celent’s Expertise

12

 

Support for Financial Institutions

12

 

Support for Vendors

12

Related Celent Research

13

Asia-Pacific

Abstract

In this webinar, Celent analyst Hua Zhang describes how scenario-based financial services have begun to appear in situations such as taxi rides, payments, etc. These services are the future of financial channels, and they will also have a profound impact on the design and innovation of financial products.

For more information about this event, please contact Yuya Fukumori  at yfukumori@celent.com.

REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
October 10, 2016
Industry Trends
Asia-Pacific

Abstract

Note: This report is also available through Oliver Wyman.

The global surge in Fintech has spread to the insurance industry, where Insuretech is leveraging cutting-edge technologies to improve existing insurance products, develop innovative new ones, and reshape the industry.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Preface

3

Executive Summary

6

China Insuretech Market Overview

8

Insuretech Business Models for China

16

Key Success Factors for Insuretech Business Models

24

Risks and Uncertainties

29

Appendix A: Examples of Technology Adoption and Ecosystems

31

Appendix B: Key Methodology and Assumptions of Our Forecast

33

Appendix C: Screenshots of Taobao’s Statistics on Shipping Return Insurance

35

Asia-Pacific

Abstract

Technology, regulatory, and economic developments have put pressure on wealth management incumbents and opened the door to automated investment advisors offering a low-cost, transparent, and seamless digital experience. How should banks, brokerages, and other providers respond to this competitive threat as well as to the broader shift in market power from the institution to the investor?

Asia-Pacific

Abstract

This webinar gives an overview of social media use by Asia-Pacific insurers. Wenli Yuan, senior analyst in Celent’s Asian Financial Services group, provides insight into social media penetration, trends, and priorities for the insurance industry.

For more information about this event, please contact Yuya Fukumori at yfukumori@celent.com.

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