With technology making things easier and more complex at the same time, the folks handling your money will need to be aware of what the next generation of wealthy individuals want. By S. Sakthivel
Technology has been the game changer in many industries and the finance and investment sector are starting to feel the tides of change says Golden Equator Capital (GEC) CEO Shirley Crystal Chua.
While technology has been a great enabler in aiding the way her business is done, it also means that practitioners need to look into enhancing their skill sets to remain relevant.
Chua says that Singapore may be seen as a financial hub in Asia and a commercial gateway into the region for commerce from the world over but being in that position is also as the key headwind in the industry. Cracking on from there and finding the “inspiration” to go higher is the main issue that needs be addressed moving forward. She contends that the opportunities to innovate are out there but the right leadership, both in policy and business, are needed to point the industry in the right direction.
In the meantime, Chua explains that further incorporating technology in the industry, through fintech and digital banking, would be the way forward. As businesses built on brick and mortar transition to bits and bytes, finance is rapidly following suit. She suggests that the opportunity to bridge the gap between traditional business and high-tech business and “digitising corporate and investment banking” is one that GEC is exploring to differentiate itself in the market. As technology progresses and wealth trickles down to a younger tech-savvy investor, managing their changing needs can make or break companies in the future.
Chua tells us more about the challenges that await her industry and the efforts she is taking to remain relevant.
Shirley Crystal Chua is a panellist at STORM magazine’s upcoming event, Keep It Going 2016, which brings together leaders and decision makers from various industries who talk about Protecting Against Headwinds.