The COVID-19 pandemic reinforced the importance of technology and digital solutions, as companies explore innovative and creative ways in order to continue – and in some cases – expand their capabilities.
Different jurisdictions have enforced various orders restricting mobility and the flow of goods and services. Companies who have been exploring digital solutions previously have been forced to hasten their digitalization initiatives in response to these regulatory changes. Financial institutions have long recognized the importance of technology, and have made significant investments in order to integrate this with core business functions. While some initiatives have been put on hold, the COVID-19 pandemic forced companies to revisit some of these projects and implement those that would help them operate in this challenging environment
The early days of the COVID-19 pandemic was focused on business continuity, financial institutions are now thinking of ways in order to manage customer experience and enhance the delivery of products in a relevant, timely and efficient manner for revenue-generation and value-add opportunities. The COVID-19 pandemic did not just impact businesses – it also impacted how decision-makers act on disruptions and choose from mechanisms available in order to maintain and protect their market share and presence.
Despite these developments, digitalization still poses challenges. The sudden shift to digital solutions will also highlight some key challenges enterprises are dealing with.
The Baker McKenzie Asia Pacific team organized a series of industry-focused webinars that will look at market conditions and relevant regulatory updates, explore how digital transformation may further accelerate in the financial services sector and talk about potential challenges and opportunities for industry players in the medium to long-term period.
The Asia Pacific Digital Transformation in Financial Services webinar will be held on 20 May 2020, and will feature speakers from the Firm’s Asia Pacific offices – Jiro Toyokawa, Stephanie Magnus, Bill Fuggle, Masato Honma, Hao-Ray Hu, Karen Man, Kullarat Phongsathaporn and Sue Wan Wong.
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