Article

Winning the digital talent war in financial services

December 12, 2018
| China, Australia, Hong Kong +11 more
  • Indonesia
  • India
  • Japan
  • South Korea
  • Malaysia
  • New Zealand
  • Philippines
  • Singapore
  • Taiwan
  • Thailand
  • Vietnam

By Shai Ganu and Greg Kuczaj

The financial services industry has been deeply impacted by digital disruption. In order to become more customer-centric, banks are adopting digital channels such as mobile and online banking; robo-advisors in wealth management, customer service chatbots and peer-to-peer (P2P) funding are becoming the norm.

The use of automation in the financial industry in Asia Pacific is expected to double over the next three years, according to Willis Towers Watson’s 2017/2018 Global Future of Work pulse survey. In fact, 54% of work may be eliminated over the next 20 years, including much of the work being done by financial analysts, researchers, loan auditors, financial consultants and traders.

For these reasons, organisations need to rethink how work gets done. Jobs can be deconstructed into tasks, and a range of sources tapped into for getting those tasks or projects done — from robotics and AI, to employees on talent platforms, or even contractors and alliance partners.

However, the reality is that many companies in the region are trailing in these efforts.

Image of information about some Asia Pacific financial services companies have been slow to deconstruct jobs

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