The IBM Institute of Business Value report, 2023 Global Outlook for Banking and Financial Markets, paints three themes facing banks and financial markets: (1) an uncertain world calls for financial services institutions that can flex as needed; (2) healthier financial performance depends, in part, on business and technology leaders who function as coequals; and (3) the next systemic crisis could be an operational one.
On the fintech side, the bank runs at Silicon Bank Valley and Silvergate Bank and the closure of Signature Bank by regulators suggests not all is rosy for those in the fintech sector as investors put greater scrutiny on fintechs.
On the health and wellness front, the longevity of the pandemic in modern times may have sparked a renewed emphasis on personal well-being, and just as important, the willingness of individuals to use digital technologies to enable this newfound interest.
AGBA describes itself as a "one-of-a-kind wealth and health platform" whose ambition is to help people enjoy wealth and health with the ease they deserve. FutureCIO spoke to AGBA Group Chief Information Officer, Arthur Wong, for his take on the office of the CIO can lead the charge in enabling organisations to lead the transformation post-pandemic.
According to Wong, one of the challenges that any organisation faces in the adoption of digital transformation initiatives, and in the case of AGBA its platform solution for partners and customers, is ensuring the business remains uninterrupted throughout the process. And once the organisation has shifted to the new digital platform, to ensure operations - people, process and technology - run smoothly.
Click on the podchat player to understand how as CIO, Wong is leading the transformation journey of the group to make sure that the company is able to deliver the services, mostly sourced from its partner network, to the intended consumers of the service.
- Please describe the business of AGBA.
- As the Group CIO, can you elaborate on what role you are playing to support the overall objectives of AGBA?
- Which development (business, economic, socio-political) has had the most significant impact on the role of the CIO since 2020?
- In 2023, what would be your top goals for the office as the CIO?
- What needs to happen for the CIO to be effective in his/her role?
- What remains the top challenge for CIOs in 2023?
- What is your advice for those wishing to pursue a career leading to a CIO?
- Can you share a bit about what AGBA fintech ecosystem is comprising and why is it so unique and powerful in the market? What are the benefits brought to your stakeholders?
- What does AGBA do to manage customer data security and risk control without sacrificing the platform's efficiency and scalability?
