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05 Jun 2023

How PHL banks can boost digital adoption

Spokesperson : Suresh Sambandam
How PHL banks can boost digital adoption

In this B-Side episode, BusinessWorld reporter Aaron Michael C. Sy talks to Suresh Sambandam, CEO - Kissflow about how banks can accelerate digital adoption. 

Key takeaways:

  • As in India, a cashless society in the Philippines could succeed and benefit the country if the government and regulators invest in platforms like the Unified Payments Interface (UPI). “If you can build something like a nationwide infrastructure similar to UPI in India, cashless is not at all a problem. It’s going to be really powerful,” Mr. Suresh said.
  • Automating processes in the middle office is the key to ramping up digital banking. Banks need to digitally transform their processes to make employee operations more efficient, Mr. Suresh said. “Digital banking has not really happened effectively in the middle office applications. The front office applications and the back-office applications are more or less there.”

You can listen to the podcast here

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