Big global banks and financial services firms must embrace opportunities presented by technological innovation to survive, leading executives say.
Both Japan's Mitsubishi UFJ Financial Group and China's China's Ping An Insurance say they are using technological innovation to reduce costs, which includes reducing their number of employees.
Jose Vinals, chairman of Standard Chartered, speaks to members of the media following a news conference in Hong Kong, China, on Tuesday, July 31, 2018.That was the message delivered Friday by top finance executives, taking stock of their increasingly competitive industry.
"We live in a world where customers want convenience, want low cost, want fast service, want solutions," Jose Vinals, group chairman of Standard Chartered, said during a panel discussion at a meeting in Tokyo of the Institute of International Finance. Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley.
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