Digital Wealth Asia Forum 2019 Singapore - Highlights - Timothy Neville

Timothy Neville of FNZ

Jun 21, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

There is an opportunity in Asia to provide a truly regionalised business model, that's supported by technology, that's supported by processes that are all common, and then it provides unique digital experiences into each of the Asian markets. Because they are all very, very, very unique. That is for me a transformation, and people are taking different approaches to that transformation. We would recommend an all in approach, but certainly there are limitations to how quickly you can transform. On the challenge side, I think a challenge in Asian wealth management is multi-jurisdiction and cross border. Bringing those multi-jurisdictional deltas closer together. We're seeing that in Thailand with Fund Connects. We're seeing it with other initiatives through Asean. But until that is completely smoothed out like it is in the UK and the Eurozone, like it is in Australia, although that's a quarantined market, you won't get true efficiencies. That's an area very interested in to work with our partners in the industry to lobby governments to make the marketplace more efficient. Another development is that Indonesia looks like it might relax the data sovereignty laws the end of next year. Those sorts of changes help to make the whole marketplace more efficient, and enable institutions to run regionalized businesses.

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