On September 21, hundreds of leaders from the financial industry convened virtually at the full-day 2021 Malaysian Banking and Finance Summit to discuss the new challenges that banks have to cope with in the new normal. As the global pioneer and leader in Digital Banking, Sunline was invited as a technological partner to share their invaluable information and insights in Digital Transformation.
The COVID Pandemic has caused widespread disruption globally to nations, economies, business and society. The prolonged pandemic have caused banks globally to face the brunt of reduced earnings as well as higher loan provisions with an almost universal loan moratorium to save businesses. The increasing use of new technologies, emergence of digital banks, enhancement requirements of operational effectiveness and productivity as well as war for talent are among the main challenges faced the financial industry. For the foreseeable future, banks will continue to escalate towards all-digital, and to remain relevant, they will have to strive to be digital natives and be future-proofed.
During the summit, Matthew Chen, CEO of Sunline Holding has represented Sunline to share his insights on how banks should embrace the changes caused by the technologies, rather than viewing it as a disruption and threat. He also shares collaboration is key for banks to stay relevant in the Banking 4.0 era, where banking is anytime, anywhere. As one of the pioneers who have grown with the wave of digital transformation in China, Sunline has invaluable information and insights about its experiences that will undoubtedly help traditional financial institutions thrive in the new era.