Digital Transformation in Banking

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Events
Event Detail

12 Apr 2023

Digital Transformation in Banking

2.30pm - 3.30pm

Online (via Zoom)

Free

CPD Hours :

N/A

Overview

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Speaker

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Overview

Digital transformation in banking is happening at a breakneck speed, where banks and financial institutions analyse, engage, and satisfy their customers while moving from the traditional to a digital world. As a result, the banking sector has transformed from being product-centric to customer-centric.

According to a LinkedIn Article in February 2023 by Gyan Consulting: “The market size for digital transformation was estimated to be $731.13 billion in 2023, and it is projected to grow at a compound annual growth rate (CAGR) of 26.7% until 2030. This growth is driven by the fact that transformation is essential for business growth.”

With such rapid growth, what are the opportunities for individuals who would like to be part of this transformation? What are the skillsets – and mindsets – necessary to maximise the chances of transitioning to this space?

Come join us for this In-Conversation event where our Career Adviser Lionel Tan will converse with IBF Fellow Kit Boone on his career journey from an engineer background to the cutting edge of digital transformation at UOB. They will review some of the most used technologies utilized by the digital banking sector and how a mid-career individual could embark on this digitalized journey.

Schedule

Speakers

Ong Kit Boone

Senior Vice President,
Group Technology & Operations
UOB

IBF Fellow

About the Speaker

Mr Ong Kit Boone is Senior Vice President at UOB's Group Technology and Operations function and has more than 20 years’ experience in enterprise architecture across various industries including banking.

In his current role, Kit Boone leads a team to build Application Programming Interface (API) solutions across the Bank, which is instrumental in creating seamless banking services for consumers and corporates.

One of the API projects which Kit Boone and his team has achieved for UOB is transforming the digital payments and rewards redemption experience on UOB TMRW, the Bank's digital banking app. They have also been instrumental in the launch of UOB mCollect, a digital collections solution designed to help businesses ease their collection and reconciliation processes.

Kit Boone has also contributed his experience and expertise for various industry initiatives such as the Singapore Financial Data Exchange (SGFinDex) and Project Ubin. SGFinDex is the world's first public-private open banking platform that enables Singaporeans to consolidate their financial information for more effective financial planning. Project Ubin is a collaborative project with the financial industry to explore the use of Blockchain and Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities.

Kit Boone graduated with First Class Honours in Engineering from University College London.

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