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Steven Gan - Signifying The Need for Speed Banking

6th BankTech Asia - Steven Gan's Presentation

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Steven Gan - Signifying The Need for Speed Banking

  1. 1. BankTechAsia 2014 Signifying the Need for Speed Banking Disclaimer: The information included in the following presentation are intended for discussion and informational purposes only; they do not constitute an endorsement or an approval by HSBC Bank of any of the products, services or opinions of the corporation or organization or individual. HSBC Bank bears no responsibility for the accuracy, legality or content of the external parties. Readers are advised to conduct their own independent research before making any decision. Steven Gan Head,Direct Banking HSBC Bank
  2. 2. Agenda •Internet Trends and Digital Landscape •The New Consumer Journey Insights •Digital Banking -Driving Omni-channels •Ensuring advanced core banking system in place •New technologies that are raising the bar for banks •Processing big data at high speed •Managing Remote Deposit Capture (RDC) and its risks
  3. 3. Connected Consumer Today
  4. 4. Mobile Device Driving Intensity of Internet Usage
  5. 5. Today’s Central Screen
  6. 6. Consumer Behavior Has Shifted. Influencing them has become more complex
  7. 7. Consumer Today Are Smarter and Has Instant Access To Information About Product and Services
  8. 8. Digital Ecosystem
  9. 9. Customer Interaction move to Digital Banking
  10. 10. Four Key Findings
  11. 11. Digital Banking -Driving Omni- channel
  12. 12. Paradigm Shift: From “Inside-Out” to “Outside-in”
  13. 13. Flexible Customer Experience Layer
  14. 14. One Advanced Core Banking Platfom: Seamless Customer Journey
  15. 15. Engagement Banking: Adding Value
  16. 16. Empower All Stakeholders
  17. 17. Evolution of Digital Banking
  18. 18. Going Fully Digital
  19. 19. Mobile Banking •Built once, deploy many •Support globally •Agile Development •Eliminate TAT of reaching customers •Same theme & standardize look & feel •Customer feels “home” •Ease of navigation •Ease of Use •Self Service Help •Cost savings on contact centre
  20. 20. Mobile Banking -Super Fast Adoption
  21. 21. Mobile: Unique Capabilities of mobile
  22. 22. Wearable Technologies
  23. 23. Banking on Big Data
  24. 24. Processing big data at high speed
  25. 25. Remote Deposit Capture (RDC) •Allows a user to scan checks and transmit the scanned images to a bank for posting and clearing •Digital deposit is transmitted (over an encrypted internet connection) to the RDC bank or service provider who then accepts the deposit, posts the deposit to the business account and assigns availability based upon the availability schedule •Benefits:  Convenience  Better deposit availability  Cost saving as the volume of paper associated with physically mailing or depositing checks  Alternate channels for SSTs
  26. 26. Remote Deposit Capture (RDC) –Risks (1) •Risk management, governance and oversight should be based on the size and complexity of the Bank & relative scale and impact of RDC activities •Bank has two primary responsibilities: Complete Due diligence & underwriting on customer -Consider customer’s business activities, geographic location and customer base Monitor for high levels of unauthorized returns or suspicious or unusual patterns of activity •Ensure the Bank maintains appropriate policies, procedures and controls relative to risk •Train the RDC customer •RDC Risk Assessment should include: Risks –Strategic, Credit, Compliance, Operational, Transaction, Legal and Reputation Risks Security and confidentiality risks as well as vulnerability and business continuity risks Risk tolerance levels
  27. 27. Remote Deposit Capture (RDC) –Risks (2) •Create customer parameters which include: A list of acceptable industries Standardized underwriting criteria (i.e., credit history, financial statements, ownership structure, types of business, google, etc.) Set maximums for large dollar items •Obtain expected account activity such as the anticipated number, dollar volume and type of transaction •Monitor the returns and any changes in the volume or dollar amounts of the transactions •Visit the high-risk RDC customers and obtain enhanced due diligence •Contracts should include: Requirements to retain, protect, and ultimately destroy original documents Requirements for properly securing equipment to prevent inappropriate use and effective equipment security controls (i.e., passwords, dual control access) Event of counterfeit documents or double deposits
  28. 28. Q&A
  29. 29. Thank You...