The banking, financial services and insurance industry is widely seen as a prosperous one.
Though the sectors in this industry have high valuations globally, when looking at the sectors individually it’s easier to identify the opportunities and challenges facing each, especially in Asia Pacific. Mainland China has often been the focus of new pursuits in BFSI, as the market is vast, the economy emerging, and the rate of high networth individuals rising.
But as Mainland China experiences an economic slowdown due to trade tensions with the United States, companies are looking to other emerging regions that are underbanked and underinsured, such as those in Southeast Asia, where digital is booming and startup unicorns are being created.
Due to the diversity of the region and the preference for mobile options, the BFSI industry needs to adopt technologies that allow them to reach an audience via its preferred distribution channels – smartphones – as well as artificial intelligence, machine learning and natural language processing tools in order to best reach and serve customers.
In this report, we have focused on talent trends in four key sectors of the BFSI industry: banking, asset management, venture capital and private equity, and insurance. We hope this report can be used as a helpful, educational resource for HR teams and business leaders that educates them about the opportunities and challenges that exist in Asia’s evolving BFSI industry.
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