Asian Financial Services

by KyongSun Kong,  Wenli Yuan, April 21, 2016
Case Studies
Asia-Pacific

Abstract

Fourteen technology initiatives are profiled as case studies in this sixth edition of Celent’s Model Insurer Asia report.

In the report Celent Model Insurer Asia 2016: Case Studies of Effective Technology Use in Insurance, Celent recognizes insurance technology initiatives profiled as Model Insurer Asia winners in the theme categories of:

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

 

What Is a Model Insurer Asia?

3

 

Model Insurer Asia Themes

3

 

Nomination and Selection Process

4

 

Client Disclosure

4

 

About this Report

4

Common Best Practices and Results

6

 

IT Best Practices

6

 

Measurable Business Results

9

Model Insurer Asia Winners

13

Data Mastery and Analytics

15

 

Aegon Life Insurance Company

15

 

MetLife Insurance

17

 

Taikang Insurance

21

Digital and Omnichannel Technologies

23

 

AXA Direct Life

24

 

Cathay Century Insurance

26

 

L&T General Insurance

29

 

PNB MetLife India Insurance Company

30

IT Management Best Practices

33

 

IndiaFirst Life Insurance

33

 

Max Bupa Health Insurance

35

 

Max Life Insurance

37

Legacy and Ecosystem Transformation

41

 

DirectAsia

41

 

ICICI Lombard General Insurance

45

Non-core Implementation Best Practices

48

 

AIA Group

48

 

Reliance Life Insurance

51

Conclusion

56

Leveraging Celent’s Expertise

57

 

Support for Financial Institutions

57

 

Support for Vendors

57

Related Celent Research

58

Celent Honors Fourteen Financial Institutions with Model Insurer Asia Awards

Singapore
April 21, 2016

 

MetLife Asia takes home Model Insurer Asia of the Year Award

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

by Neil Katkov, PhD,  Hua Zhang, March 29, 2016
Regulation
Asia-Pacific

Abstract

Shanghai-Hong Kong Stock Connect provides international investors direct access to China’s domestic A shares market for the first time. However, it is hampered by a number of idiosyncratic features.

The Stock Connect scheme, however, presents a number of restrictions and operational challenges that constrain trading strategies, create operational complexity, and introduce risk. These include:

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

Background

1

Executive Summary

2

 

Key Research Questions

2

Shanghai-Hong Kong Stock Connect in Context

4

Shanghai-Hong Kong Stock Connect: Overview

5

Restrictions of Shanghai-Hong Kong Stock Connect

6

Resolving the Barriers

7

 

Barriers for Institutional Investors

7

 

Barriers for Hedge Funds

8

Opportunities for Market Participants

9

 

Sell Side Opportunities

9

 

Buy Side Opportunities

9

Operational Challenges

11

 

Hybrid Settlement Cycle

11

 

RMB Settlement

11

 

Asset Fungibility Issues

12

 

Shareholder Reporting

12

Risk Management Challenges

13

Regulatory Goals

14

Shanghai-Hong Kong Stock Connect: It’s Just the Beginning

16

 

Technology and Operational Implications

17

Leveraging Celent’s Expertise

19

 

Support for Financial Institutions

19

 

Support for Vendors

19

Related Celent Research

20

Blockchain Conference: Blockchain for implementation and utilization

:
: March 24, 2016
: KyongSun Kong, Asian Financial Services, Global Financial Services
Asia-Pacific

Analyst KyongSun Kong will be participating in a panel discussion on blockchain at this conference.

Click here for more information

Southeast Asia Banking Technology & Innovation Summit

: Jakarta, Indonesia
: March 30, 2016
: Eiichiro Yanagawa, Banking, Asian Financial Services
Asia-Pacific

Senior Analyst Eiichiro Yanagawa will be presenting a keynote session, titled Holistic Digital: What "Digital" Means in Banking, at this event.

Click here for more information

Legacy Modernization Seminar

: Tokyo, Japan
: April 7, 2016
: Eiichiro Yanagawa, Asian Financial Services, Global Financial Services
Asia-Pacific

Senior Analyst Eiichiro Yanagawa will bea guest speaker for TEKMonks' Legacy Modernization Seminar. His session is titled Learn the Keys to increase the success of Legacy Modernization Projects.

Click here for more information

The Future of Digital Banking: Asia Pacific

: Singapore
: March 15, 2016
: Neil Katkov, PhD, Banking, Asian Financial Services
Global, Asia-Pacific

Marketforce's Future of Digital Banking: Asia Pacific will bring together the leading financial innovators from across South East Asia and the rest of the world in order to share insight and ideas on banking in the digital age.Key decision makers from both traditional banks, domestic and international players, and ground-breaking new start-ups will be discussing the most exciting new developments in this area and what they view as the future of banking.

by KyongSun Kong, February 23, 2016
Industry Trends
Asia-Pacific

Abstract

Japan’s wealth management market is reawakening to the importance of customer relationship management (CRM), and a growing number of financial institutions are rethinking their CRM strategies.

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

Japan’s Wealth Management Market: An Overview

2

 

Customer Segments

2

CRM Trends in Japan’s Wealth Management Market

4

State of CRM

5

 

Overseas Case Comparisons

7

Fintech and Digital

8

 

Robo Advisors and Big Data

8

 

Online Channel

8

 

Tablet Usage

9

The Future of CRM: Considering the Possibilities

10

 

Harness Artificial Intelligence

10

 

Service Model Standardization

10

 

Omnichannel and Interdepartment Cooperation

10

 

Generational Transition

11

 

Data Analysis

11

 

Cost Performance

12

 

Enhancing Online Channels

12

 

Shared CRM

12

Celent’s Recommendations

14

 

Harnessing IT

14

 

Orchestrating a Transformation in Awareness

14

 

Diversifying Channels

14

Leveraging Celent’s Expertise

15

 

Support for Financial Institutions

15

 

Support for Vendors

15

Related Celent Research

16

Artificial Intelligence Applications in Banking
by Hua Zhang, January 29, 2016
Industry Trends
Asia-Pacific

Abstract

随着人工智能技术的成熟,越来越的供应商在产品中使用人工智能技术,比如:通过语义分析技术来更快分析市场信息,通过神经网络技术来改善风险控制等。

Celent在报告中扫描了美国、中国、英国和印度的人工智能公司,并分析了这些技术如何被应用在银行业的业务中。目前,主要的应用领域包括:知识管理、客户服务、市场营销、销售、身份验证、风险管理和反洗钱。FinGenius可以将其系统嵌入在ATM和KIOKS,以增强客户的人机交互的友好性。欧姆融定位移动营销数据分析,通过数据挖掘来获得潜在客户的特征,以提高银行的销售能力。EverString通过爬虫来获得企业客户的相关信息,并未银行提供相应的信用评分……

在新报告,人工智能在银行业中的应用,Celent分析了人工智能在银行业的应用模式、案例和趋势。

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

 

Key Research Questions

1

知识管理 

3

 

FinGenius

3

 

Kensho

3

 

AlphaSense

5

营销与市场 

5

 

零售银行的欧姆融

5

 

企业银行的EverString

5

 

Wise.io

6

身份验证 

8

 

Face++的身份验证

8

风险管理和反洗钱 

10

 

Ayasdi的风险管理

10

 

Digital Reasoning 的反洗钱

10

趋势 

11

Leveraging Celent’s Expertise

12

 

Support for Financial Institutions

12

 

Support for Vendors

12

Related Celent Research

13

by Hua Zhang, January 26, 2016
Industry Trends
Asia-Pacific

Abstract

Celent estimates bank spending on IT across Southeast Asia will grow to US$5.2 billion in 2016, approximately 4.6% higher than 2015. The good news is that the momentum is positive and consistent, and it will continue for the next few years.

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

Total IT Spending

2

Banking IT Spending by Country

6

 

Singapore

6

 

Malaysia

7

 

Indonesia

8

 

Thailand

8

 

Philippines

10

 

Vietnam

10

 

Laos

11

 

Myanmar

12

Top Trends

14

 

Renewal or Core Banking

14

 

Mobile Banking and Mobile Payment

14

 

Big Data

14

 

Relationship-Based Pricing

15

 

Customer Analytics

15

 

Embedded Digital Banking

15

 

Other Trends

15

Conclusion

17

Leveraging Celent’s Expertise

18

 

Support for Financial Institutions

18

 

Support for Vendors

18

Related Celent Research

19

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