Shamalan Soobiah, Managing Executive, Digital Innovation and Technology at BCX

“The (fintech) winners in this digital world will be those organisations that are most available to their clients at points of need, offering convenience in orchestrating consumer-relevant transactions with appropriate levels of security, and thus essentially facilitating how consumers live and work,” says Shamalan Soobiah, BCX’s managing executive, Digital Innovation and Technology. “It’s not about financial services organisations selling traditional financial products and services in a digital way.

“Fintechs should offer financial initiatives and services that are more inclusive in understanding clients’ specific needs, co-venturing with partners if necessary and opening up banking platforms where appropriate in the quest to add value to clients’ lives.