In the age of digital transformation, consumers and even businesses now demand service anytime, anywhere. This is especially true for banks and financial institutions, which provide services to the public at large and play a big role in people’s day-to-day lives.
Due to mobility restrictions, Filipinos were forced to digitally conduct their basic financial transactions online, from paying bills to managing their money. As this becomes the trend in the world of finance, organizations are also obligated to adapt to this new trajectory, by improving user experience through the integration of digital finance tools.To meet this demand, financial institutions – both banks and non-banks – have to leverage new technologies.
“Essentially, we provide very flexible solutions that enable them to serve their clients in meaningful ways – mobile solutions, electronically-based channels, and more,” Tan said. In 2019, OneConnect had already served over 3,700 customers, including 600 banks which included all of China’s major banks and 99 percent of its city commercial banks, plus 46 percent of its insurance companies. In the ASEAN region, OneConnect laid its foundation in 14 countries with 47 clients.
SB Finance, on the other hand, leveraged OneConnect’s technology and expertise to introduce zukì, a mobile app that offers personal and vehicle loans, democratizing access to lending for ordinary consumers.According to Annie Ong, Chief Revenue Officer of the International Business Unit at OneConnect, the Philippines has a supportive regulatory environment for digital transformation in finance.
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