Open Banking is a global movement that has made its way into Asia Pacific. Many of the major economies in the region have taken steps toward Open Banking but the approaches differ hence their degree of readiness and complexity. What is true, is that this will change the game for banks as they respond to the opportunities and challenges presented by Open Banking, which will impact the whole digital banking ecosystem – challenges of security and privacy whilst delighting customers and fast-tracking their digital transformation journey.

• Deepen your understanding of the benefits of open banking and how countries across the Asia-Pacific region are following suit to establish their own frameworks
• Discover best practices, lessons learned, and frameworks from your peers
• Learn how risk-based authentication and a frictionless customer experience can cut fraud losses and create new growth opportunities for financial institutions
• Get tips on how you can tailor innovative open banking applications or services for your consumers

Data is in everything we do, and has grown immensely in terms of size, type and complexity. There is extensive non-traditional data emerging creating the era of Open Data – and the ability to unlock marketable or income-generating insights from it presents a tremendous opportunity. The challenge is how to extract, qualify and process the data to turn this opportunity into real value for businesses and ultimately the consumer.

• Why do data quality problems arise and what you can do to mitigate it?
• Learn how you can build an environment where data can be trusted and securely accessed by everyone in the organisation to enable new product creation
• Data Quality Practices for Big Data and Little Data

The scale, diversity and pace of change in Asia Pacific has brought about pressing economic and environmental issues that requires localised solutions for the respective markets. Data science and analytics is one of the key driving forces in the creation of such solutions. The exponential amount of data generated in the region through Asia Pacific’s rapidly growing internet penetration and mobile usage rates serves as a good basis to build financial identities for Asia’s unbanked. This also translates into harnessing various initiatives in the region’s tech stack and the vibrant data economy to look at opportunities for boosting financial inclusion and access.

Of equal importance is the creation and growth of the social innovation ecosystem that includes start-ups, fintech providers, related businesses and academic institutions in the region to seed and develop Asia Pacific-wide solutions. Experian X Labs was created with this specific purpose and looks to be an agent of responsible innovation, drawing from its expertise around financial inclusion, digital payments and consumer enablement through advanced data analytics, research and development.

Some of the developments include

• Experian X Score - helping drive financial inclusion to enable financial access to the next 20% of the underbanked.
• Data-based decisions for the Agribusiness sector – to bolster financial resilience and access to insurance for the agricultural community