Summary: In the wake of technological innovations in the Indonesian BFSI sector, WFIS 2021: Indonesia, a two-day virtual event, facilitated networking & intelligence sharing between the most promising tech providers and the leading financial institutions from the country.
Indonesia, 7th December, 2021: To ensure the success of Indonesia’s Financial Services Authority (OJK) in its digitization efforts and to expose the country’s poised fintech market, Tradepass hosted the 8th Edition of World Financial Innovation Series (WFIS 2021: INDONESIA), virtually on 1-2 December.
Coupa Software, SmartMessage, CREALOGIX, Palo Alto Networks, AppsFlyer, GitLab, Freshworks, Contentsquare, Snowflake and Thought Machine were the face of the event as they had their own exclusive virtual exhibition booth to showcase their best solutions for BFSI and some of them even gave insightful knowledge sharing sessions during the conference.
While shedding light on the new era of banking, Ian Lim (Field Chief Security Officer – Asia Pacific, Palo Alto Networks) expressed, “Consumers are so intelligent and sophisticated now, they don’t just want to wait in line in a bank to get their money, they don’t want to wait multiple days to get a wire transfer or to be able to move cash around. They want a digital ecosystem that brings convenience and value to their busy lives.”
The 2-day virtual conference hosted over 900 technology and business heads from 100+ leading Banks, Insurance & Micro-Finance institutions across Indonesia to virtually connect, collaborate and explore a wide range of new-age-future tech solutions for the growing BFSI sector.
Lee Ann Tan (Regional Director – APAC, SmartMessage) shared some key stats about Indonesia, he stated, “Number of active internet users in the country has surpassed 200 million, in addition to that 70% of the whole Indonesian population owns a mobile phone. Now, we are a digitized population and the request for traditional way of engagement has changed and 78% of the Indonesian customers now use digital banking effectively.”
While explaining the complications faced by developers, Saumya Upadhyaya (Sr. Product Marketing Manager, GitLab) said, “When we find issues later on in the development cycle, the more time it takes for a developer to actually fix it because there has to be a lot of context switching that they need to do, they will probably need to set up their environment again and all of this actually takes a lot of time.”
The conference highlighted the latest developments in the BFSI industry and was filled with insightful presentations, knowledge packed fireside chats and panel discussions, that witnessed the participation from some leading thought leaders and the best-in-class experts. Some of the most pressing topics from the conference included ‘Reinventing the FSI ecosystem using Dynamic Automated Systems’, ‘How are new-age banks using Big Data’, ‘How Open Banking will power the next wave of fintech innovation’, ‘Neo-banks’, ‘Banking-as-a-service (BaaS)’, ‘Powering financial services with cloud’ and many others.
When enquired about the execution of the entire event, organizer and CEO of Tradepass, Sudhir Jena expressed, “World Financial Innovation Series 2021: INDONESIA, explained how the financial institutions are rapidly evolving with technology that’s tailor-made for the New Normal to empower the modern-day customer with convenience, while ensuring security at the same time. It also brought together the leading stakeholders and tech providers to further add to the fast-growing digital economy of Indonesia”.
For more information about the summit, log on to https://indonesia.worldfis.com/
Media contact:
Shrinkhal Sharad
PR & Communication Executive – Tradepass
shrinkhals@tradepassglobal.com | + (91) 80 6166 4401
About Tradepass
Tradepass provides elite business networking platforms across the MEA, APAC and Europe that connects the world of tech buyers with market intelligence, insightful use-cases, and innovative solutions from global experts, investors, and business partners.