In the paper’s special focus on fintech, KPMG’s thought leadership was given a special section where we revealed the global fintech ecosystem continued to mature at an accelerated pace over the course of 2017. According to the 4Q17 edition of The Pulse of Fintech by KPMG International, total global investment in fintech remained steady at over US$31 billion, year-over-year. With big developments ranging from the rise of open baking, increasing regulatory clarity and maturation of AI and blockchain, 2018 promises to be another big year for fintech.
Alvin Gan, executive director of KPMG Management Consulting in Malaysia, has been observing how emerging technologies like big data, AI, robotics, blockchain, coupled with ever-changing customer expectations, are reshaping how the Malaysian financial institutions (FIs) deliver services.
“The introduction of robotic proess automation (RPA) and chatbots, for example, had enabled greater productivity hence allowing FIs to address more complex customer needs. Many also recognize AI becoming a pivotal technology behind fintech innovation, presenting massive opportunities to be the first mover in causing a shift in customer expectations by being able to know what their customers need, even before they know it themselves,” said Alvin.
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