Japan conferences: 2023 in review

29 January 2024

Eiichiro Yanagawa

Here’s a short recap of where and what we discussed

Conferences are always exciting, and 2023 was no exception, with many panel discussions and keynotes taking place at numerous venues throughout the year here in Japan. In addition to disseminating past research findings through my presentations, as conference chair and panel moderator, I also have the opportunity to improvise with industry thought leaders, a rare moment to stockpile future research topics and insight themes. People meet in various formats to exchange ideas and deepen discussions. The preparation and nerves that precede the big day are fundamental to the mission of being an analyst and at the heart of our profession.

In the post-pandemic era, the hybrid conference format (a combination of online and on-site participation) has become the norm. Webinar-style events sponsored by industry associations, media organizations, and vendors have become firmly established, and in 2023, Celent’s Innovation & Insight (I&I) Week was again conducted in a digital format. The digital transformation (DX) of these conferences is accelerating the distribution of on-demand digital content as well as making human interaction by screen more routine. In addition, the power of the real world was keenly felt as we further strengthened our ties with many industry professionals at the on-site participatory events.

As we begin 2024, we look back at the conferences and webinars of 2023. Common keywords in the many discussions across the banking, insurance, securities, wealth management, and risk management industries included customer experience, automation, generative AI, modernization of the infrastructure, and continued innovation.

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IBA Japan Webinar: Technology Is Innovating Japan’s Capital Markets Platform

The 2023 conference kicked off with a discussion on capital markets. I provided the keynote address for a webinar hosted by the International Bankers Association and moderated a panel discussion on platform technology strategies along with a Tokyo market thought leader.

The International Bankers Association Japan (IBA Japan) is an industry association of foreign banks, securities firms, and representative offices operating in Japan, reflecting the views of international financial institutions. IBA Japan also serves as a forum for the exchange of views and provides various services for its members.

The keynote speaker reported on the results of Celent’s latest survey, “Japanese Capital Market Platforms Innovated by Technology,” and discussed the efforts of Japanese market participants to overcome difficulties and pave the way for a post-pandemic capital market.

In a market facing a trilemma (systemic change, evolving customer needs, and costs rising faster than revenues), market participants from the front office to the back office are seeking economies and efficiencies. Today, when market alpha is hard to find, streamlining and consolidating operations and investing in the latest investment decision-making technology platforms represent efforts to gain operational alpha.

To solve the trilemma, smooth the transition to Cloud 3.0, and enable a new combination of hybrid outsourcing and managed services, Celent proposed the following three concrete steps:

End-to-end process innovation.
Data-driven organization and decision-making.
Innovations in architecture and sourcing models to become more resilient to change.

Related Celent Reports:

Capital Market Platforms Innovated by Technology: Creating Mechanisms to Turn Changes in the Japanese Market into Business Opportunities

Technology Trends Previsory: Japanese Webinar Series

This report and webinar discuss guidance and responses by Celent analysts on key financial business themes and financial technology priorities for 2023. This new Previsory (a coined word combining “preview” and “advisory”) Series explains the essentials in Japanese.

In 2023, the common theme of this research was addressing macroeconomic-based stresses through deeper customer relationships. Markets around the world have been exposed to shocks brought about by geopolitical and economic currents. Amid stagnant supply chains, accelerating inflation, and rising interest rates, companies of all sizes face current and future challenges. Consumers and businesses alike are looking to financial institutions more than ever as trusted advisors to help navigate these stormy waters, but they are also taking a more cautious approach to building relationships. Competition in the industry is expected to intensify as market uncertainty increases. The key for financial institutions is how to make differentiated IT investments while deepening customer support.

Click here to watch the webinar series in Japanese on demand:

Model Award Program 2023: Gearing Up for Prosperity

In 2023, Celent’s Innovation & Insight (I&I) event celebrated its 17th year.

This event is part of the Model Awards Program to identify and recognize outstanding technology applications in financial services, including banking, insurance, wealth management, capital markets, and risk & compliance.

In 2023, we hosted a virtual summit on March 29, featuring live presentations, announcements of the Model Award–winning projects, winner case study videos, fireside chats, breakout sessions, and more. The award program applicants, winners, event sponsors, presenters, and attendees made I&I Week 2023 a success.

After the event, several digital contents were made available through the Innovation & Insights Week platform, Hub Page. This webinar series summarized that content in Japanese. We included interviews, replays of live sessions, videos showcasing innovative implementations by award winners, and links to case study reports.

Please click here to view the program overview, industry trends, and award-winning companies’ initiatives in the Japanese-language webinar.

Keynote: Gearing Up for Prosperity—Building Emergent Enterprises
A look back at the Model Award Program: Part 1—Securities Markets and Risk Management (report in Japanese) | Japanese Webinar
A look back at the Model Award Program: Part 2—Banking Market (report in Japanese) | Japanese Webinar
A look back at the Model Awards Program: Part 3—Insurance Market (report in Japanese) | Japanese Webinar
Model Buy-Side 2023 | Nissay Asset Management—Activating Digital Engagement For Corporate Pensions (with a report translated into Japanese) | Japanese Webinar
Model Sell-Side 2023 | Societe Generale—Treating Data Like an Asset (with a report translated into Japanese) | Japanese Webinar
Model Wealth Manager 2023 | Merrill—Preference-Based Advisor Matching (with a report translated into Japanese) | Japanese Webinar
Model Bank of the Year 2023 | ICICI Bank—Digitizing the Card Customer Lifecycle and Trade Services innovation (with reports translated into Japanese) | Japanese Webinar
Model Insurer of the Year 2023 | Max Life—Data and AI-Driven Life Insurer (with a report translated into Japanese) |Japanese Webinar
Model Risk Manager of the Year 2023 | HSBC—Cloud-Based Financial Crime Detection at Scale(with a report translated into Japanese) | Japanese Webinar

TFITS2023: Tokyo Financial Information & Technology Summit

The Tokyo Financial Information & Technology Summit is the only event in Japan that brings together IT, data, and sales executives from financial institutions.

Celent again served as a knowledge partner to WatersTechnology, the organizer of the event, provided the keynote address and moderated panel discussions on cost-efficiency and resilient technology strategies with Tokyo market thought leaders.

The 2023 conference was held as an audience-participation event, allowing us to bond with many industry professionals. The agenda included the following key themes and featured a panel of IT and data management executives and thought leaders to discuss the future of the Japanese financial industry as revolutionized by data and technology.

Keynote Panel: Japanese Capital Market Platforms Innovated by Technology
Technology Panel: Redesigning Technology to Accelerate DX
Compliance for Future Communication
ESG Panel: The Essence of ESG in Changing Investment Strategies and Decisions
Post-Trade Panel: The Future of Post-Trade Services—What New Technologies Simplify the Process?
Build and Optimize Low-Latency Infrastructure for High-Frequency Trading (HFT)
Disclosure Highlights: The Future of Security and Privacy in the New World

In addition to the keynote address, Celent moderated two-panel discussions. Click here for an overview of the panels:

Financial Innovation Exchange–Tokyo, Hosted by Oracle

Hosted by Oracle Financial Services, Financial Innovation Exchange featured a variety of speakers, including from leading financial institutions, and analysts from both corporate and retail banking, who discussed strategies for accelerating business velocity, driving innovation, and revolutionizing the customer experience. The agenda also included high-priority topics surrounding the post-pandemic banking industry:

How to quickly adapt to new channels, open ecosystems, and modern platforms with a customer focus.
How to grow revenue through channels and acquire customers quickly with digital as a starting point.
Efforts to achieve both customer-centric innovation and account system modernization.
Cloud strategies to improve operational efficiency, speed innovation, and mitigate risks from rapid business model change.
Opportunities and technology applications to accelerate digitalization in corporate banking.
How to improve client working capital management and manage complex global account structures with virtual accounts.
Strategic implications for cross-border, instant payments, and transition to ISO 20022.

Celent provided the following keynote presentation:

Title of Keynote: The Future of Banking Innovated by Technology: Global Trends and Implications for Japanese Banks to Discuss

Keynote Agenda:

Economic Environment and Banking Sector Response
Retail Banking Trends: 5 Priorities and Case Studies, Deep Dive: Data Monetization
Trends in Corporate Banking: 5 Priorities and Examples, Deep Dive: ISO 20022
Cloud and AI: Technology for the Future Now
Implications for Japanese Banks: Toward the Future of Banking

Capital Markets Technology Event, Co-Sponsored by NITTETSU SOLUTIONS + SIMCORP

NSSOL and SimCorp, a provider of asset management solutions, co-hosted the Capital Markets Technology Event for financial institutions and asset management companies in Japan. On the same day, the two companies also announced the signing of a new partnership agreement to support the implementation of asset management solutions for financial institutions in Japan.

Global capital markets, in particular the asset management industry, are rapidly becoming more complex due to changes such as geopolitical risk, inflation control, and restructuring of global supply chains. To adapt to changes and build a sustainable business model, organizations need to transform to focus on value-added tasks and operate more efficiently. In addition to responding to the impact of such global changes, the Japanese asset management industry must also deal with the expected rise in interest rates, the diversification of investment targets such as environmental, social, and governance (ESG) and alternatives, and the correction of business practices unique to Japan. Celent provided the keynote address and moderated a panel discussion at the event.

In this keynote address, Celent described the five most important technology anchors in global capital markets (ESG, digital assets, UI/UX, data utilization, and regulatory compliance) and introduced best practices therein. Additionally, we discussed the initiatives and priorities of Japanese market participants post-pandemic. Finally, we also made recommendations around strategies for Japanese market participants.

Title of Keynote: What Are the Latest Trends in Capital Markets and Innovation Strategies to Win in the Market?

Keynote Agenda:

5 Anchors of the Capital Market
Buy-Side Technology Highlights and Priorities
Market Participant Responses: Survey Results from the Japanese Market
Recommendation: Innovation Strategies to Win in the Marketplace

The panel discussion focused on buy-side technology with thought leaders representing the capital markets in Japan and APAC, buy-side themes such as ESG scores, sustainable investing, green transformation (GX), and human capital management. We discussed common challenges and initiatives in the asset management industry regarding the use of data and analytics, particularly the standardization of data metrics and infrastructure, and the use of technology therein.

Panel Title: Buy-Side Panel: The Practical Use of Technology in Capital Markets—What’s Left to Win and What’s Changed in the Marketplace?

Panel Agenda:

Top Business Priorities and Initiatives: What Are the Technology Drivers for Business Innovation?
Challenges and Initiatives in Technology Use: Buy-Side Theme #1: Cloud Use; Buy-Side Theme #2: What Are the Challenges and Initiatives in End-to-End (Process Improvement and Data Utilization)?
Toward Sourcing Model Innovation: Buy-Side Theme #3. What Should the Modernization of the Sourcing Model (Technology Procurement and Operation and Maintenance Structure) Look Like and What Are the Expectations for Vendors?

Related Research Corporate Banking Hub Wealth Management Hub Capital Markets Hub Financial Services Risk Hub Banking Risk Hub Retail Banking Hub