This programme is designed to build the decision-making skills of senior executives in traditional and digital banks, technology companies, entrepreneurs, and founders of fintech firms as you navigate the future of finance. Interact with a team of highly experienced futurists, bankers, technologists, researchers and your peers as you build your own solid responses to the mega trends, technologies and geo-political realities that are transforming the industry today.
An investment in the programme includes a two-day MasterClass, one-day site visits, as well as a one-year membership to a community of like-minded peers, along with research data and insights, all accessible through an app. You will also have access to the faculty and your cohort for continued discussions. The course utilizes compelling case studies, data, and insights in simulations and discussions to crystallize your ideas. It also leverages your own experiences, which will be tested during the MasterClass, as well as through interviews in the course of the year.
You will be trained on utilizing all the core areas of basics of banking— balance sheet, capital, credit, products, risk and regulation, technologies, distribution channels, payments and related infrastructure—and tie them to the latest developments in platforms, tokens, wallets and decentralised finance. Develop your own responses to the metaverse in gaming and virtual reality, as well as artificial intelligence and machine learning. The program is designed to challenge your worldview and help you identify new scenarios as you shape your own future from a sound grounding in the first principles of banking. There is no other programme quite like it in the industry today.
The Programme comprises a package of valuable deliverables for an entire year. You will get:
Video and Voice Recordings
Peer and Consulting Support
Access to Third Party Content
The greatest challenge in charting a course in the future of finance is in harnessing the diversity of opinions on where the industry is heading. In this first session, as we introduce ourselves to each other, we will establish a mechanism for managing biases on the future of finance that may come from within the same teams. For example, some participants are pro-crypto and others are bent on preserving the traditional nature of the business, so the challenge here is how do we build consensus on shared goals even within your organisation. But more importantly, we will focus on establishing a structured understanding of the strategic intents of technology: industrialisation versus digitalisation, the zero marginal cost theory, and platforms to personalisation. Relevant reading and video material will be provided ahead of the programme so that you can come prepared. At the end of this session, you will expand your own perspectives and gain some tools that will help you navigate both for yourself and your institution.
Going digital has had a profound effect on the finance industry. But to understand this, we must first understand what the balance sheet used to look like, what is it changing into and what should we be working at. In this session, we have the excellent examples of the failures of Silvergate Bank, Silicon Valley Bank, First Republic and Credit Suisse from a balance sheet and industry trends perspective. Going digital is changing the industry in a profound way. Understanding the impact of digital on market trends is a core skill that is a matter of survival in some circumstances. This skill can be extended into other areas such as BNPL. The intended outcome of this session is to help us keep our eyes on the numbers. We will impress the need for an integrated approach to risk in a digital business – credit, operations and funding.
A deep dive into the different types of digital banking initiatives around the world, and more importantly, the reasons for their success and failure that can be applied to your own initiatives. We will discuss a rich repository of strategic, operational and competitive issues that will be familiar to you. We will look at their products, the markets in which they serve and outline the trends that drive the industry. We will plot a SWOT analysis but with a focus on the future opportunities and threats that you need to be aware of for your own decisions.
In this session, we will start with the core focus of technology—operational resilience in the face of digital transformation. We will discuss the different IT vendor propositions that exist today as they guide banks in transitioning from mainframes to the cloud. We will discuss the development of open-source computing, application programming interfaces (APIs) and user-developed applications in a way that has never been discussed in banking. We will then move on to the advent of Natural Learning Processing (NLPs), Large Learning Models (LLMs) and Generative Pre-trained Transformers (GPTs) and the profound effect they will have on technology architectures of the future. The existing infrastructure is clearly not designed to absorb all the transformational challenges being introduced into banking today.
In this short but important session, we will outline the most important features of blockchains, cryptocurrencies and the metaverse and how they can be mapped back into being applied in banking as we know it to be. We will develop a keen appreciation of the speed and latency that is being created in new finance that will influence traditional banking eventually. We can already see some of its effects in treasury and markets. We will juxtapose best practices in decentralised finance against traditional finance which will help participants navigate future changes.
Many non-banks are entering the financial services industry on the back of a variety of platforms that succeed in other areas – food delivery, ride hailing, budget airline and telecommunication platforms, amongst others. Yet, almost all struggle. Payments is usually the frontier product that is offered. We will study payments from three perspectives. First, we will take the larger view that includes the platforms on which payments ideas are built and delivered. We will examine what is happening to platforms as a technology. Secondly, we will look at the evolution of digital wallets. Thirdly, we will extrapolate what platforms will look like as we move towards virtual realties, IoT and the metaverse. Not everything that worked in the early days of the platform era will work in the future. From this session, we will identify the critical success factors that will determine future winners that all players will have to take into consideration.
Here we discuss how the organisation should be structured to take advantage of the speed and agility of a digital bank. Suddenly, retail, wealth and small business can all share the same infrastructure. Our highly experienced faculty members will guide you in the elements that are necessary to ensure a good operating model. We will also discuss the different ways in which banks and bank holding companies are structured today, and the issues they deal with at the business and infrastructure levels. We compare legacy organisations with the flatter new-age disruptors to outline how organisations can take advantage of the digital dividend in finance. We discuss where the different businesses are situated and their interaction with each other. We will also discuss resistance to digitalisation from functional groups such as risk and compliance. Once again, we distil the session down to a sense of the most optimum structure that can work for your organisation.
Here we use the principles of design thinking to set the tone for introducing continuous innovative change into the people in your organisation. What are the most important skills to look for? How does a digital bank mobilise its people to take on the innovation journey? How do we establish the synergies between the different cultures within an organisation. Where in a bank should investments in innovation sit? How to think about incubators and hackathons. What targets should a bank set and achieve them on the human capital.
We will examine how banking has evolved to becoming more customer centric and other industries which are far more developed in their customer centric orientation. We will look at what customer and employee centric metrics such as Net Promoter Scores tell us and how these change in the digital world. We will look at customer centric interfaces such as chatbots and how best to deploy them. The most important customer-centric orientation of a bank in the digital world should be in generating conversations with customers. We will also touch on how data privacy needs to be managed while achieving greater intimacy with customers in the digital world.
Based on our faculty’s experience in applying for digital banking licences in different jurisdictions, this session is designed to outline the relationship with board members and regulators. It starts with an overview of regulatory regimes globally and the issues regulators are most concerned about. We then examine board level issues that management staff need to be mindful of and how to obtain the maximum support from the board. We will then examine the experiences of recent digital players in their attempts to acquire banking licences.
Future proofing any business involves taking into account everything that needs to be known and preparing for the unknown. In this penultimate session, we will discuss what financial products should look like in the digital world. Here we take stock of how financial services is increasingly being democratised and in the hands of the customer. We will challenge you to think in a transformational manner – if the product has not changed, nothing has changed in your transformational journey. We want you to imagine what your own future products and customer relationships will look like. Your journey should mirror the strategic direction of technology: industrialisation versus digitalisation, the zero marginal cost theory, and platforms to personalisation.
As we reach the end of the programme, we will conduct exercises where you develop your own digital transformational roadmaps. We will first look at what the milestones should be and examine some of the pitfalls to avoid based on previous models. One of the features of an effective transformation exercise is being nimble and able to absorb unexpected developments in technology as they occur. We will introduce contingent developments and discuss how best to respond to them. We conclude the programme by presenting strategies for various marketplace realities. Participants will also be required to personalise strategies applicable to their respective institutions.
We visit the development center of a successful decentralized finance player with multiple products to secure a briefing on how these disruptors actually work and how they are scaling their business models even during periods of a crypto winter.
Ng Ying Zhong
Chief Product Officer
The Singapore Fintech Association (SFA) plays an important role in propelling the growth and development of the FinTech ecosystem in the region. We will gain firsthand insights and discover how fintech startups, traditional banks, and regulatory bodies collaborate to drive innovation in financial services.
Chief Operating Officer
Singapore FinTech Association (SFA)
During the visit we will learn about the latest fintech trends and developments, how to innovate in the financial sector, and how to collaborate with other stakeholders on fintech innovation. We will also discuss about the latest developments in the areas like central bank digital currencies (CBDCs), blockchain, and artificial intelligence (AI) and their impact in the industry.
Maha El Dimachki
BIS Innovation Hub
Projects Manager & Advisor
BIS Innovation Hub – Singapore Centre
Kah Kit Yip
BIS Innovation Hub
BIS Innovation Hub
BLOCK71, founded in 2011 by NUS Enterprise, Singtel Innov8, and the Media Development Authority of Singapore, is a bustling hub for tech startups and entrepreneurs in Singapore. With over 1,000 startups, it's a hotbed for innovation spanning AI, data analytics, cybersecurity, fintech, and beyond. This thriving ecosystem also welcomes investors, government agencies, and support organizations. Explore this dynamic space with us and discover the projects shaping Singapore's tech and finance landscape.
Hui Hong SEOW
BLOCK71 Southeast Asia
Business Development Manager & CEO Liaison Officer, SSenStone
Chief Growth Officer
*The proposed sites are subject to confirmation and change based on various factors.
Thought leaders and highly experienced professionals with an intuitive understanding of the industry
333 Orchard Road, Singapore 238867
Building the Future Bank Strategy Workshop is designed for:
Board members and CEOs transitioning into digital finance
Digital bankers seeking market expansion
Fintech cofounders and entrepreneurs
Disruptors creating transformative finance solutions and services
Business, research and technology analysts
The investment into this programme is USD6,000 for the first participating member from the same organization and includes:
(upon successful attendance to two Group Chat sessions and one video interview in the year)
We are able to run an in-house version of this programme that is specific to your institution. This include both consulting and mentorship services. We will come prepared with an in-depth research and SWOT analysis on your institution and marketplace so that the programme will be totally tailored for the realities in your marketplace. The programme can be designed in the form of a training, or a workshop for your board members or senior managers. The deliverable will include a recommendation report at the end of the programme. Contact our programme manager who can discuss with you the objectives that your institution wishes to achieve and design a programme that best suits your needs.
Contact us to design a programme that best suits your need.