Standard Chartered Regional CIO: building an innovative, creative and risk-taking mindset

The other technology is DLT. It is still the early days for it. The main areas we are looking are trade finance and KYC (know your customer). I see KYC can be benefiting a lot in the short term. Instead of having to submit their KYC to 10 different banks, customers can submit to one and get replicated across. We are doing a POC (proof-of-concept) on KYC for our corporate customers. On the trade finance side, the POC was finished. Its next phase is commercialization which will start later this year. DLT might not necessarily raise a lot of revenue or reduce cost, but it will reduce risk and improve customer experience a lot.

Biometrics may have a big impact even for very simple things like Touch ID (fingerprint recognition) and mobile apps. In the evolution of biometrics, retina scan and finger vein recognition work very well now.

We are also working on some POC projects on IoT internally to see how it can enable us to provide value added services particularly to our commercial and corporate clients.

Our bank is committed to technology investment. Back in 2015, we announced a US$3 billion global investment over three years for upgrading the bank’s technologies and systems to improve customer experience.

CWHK: What are your key goals and challenges in the next 12 months and beyond?

PC: My number one priority is to keep our systems running in a stable and secured way. The other thing is driving a culture of customer centric innovation throughout the organization, not just talking about it but to deliver it to ensure we have a capability to rapidly meet the evolving needs of customers.

The challenge is always to balance day-to-day needs of maintaining operational and system integrity while at the same time trying to drive a lot of transformation and innovations. The foundation is creating the right culture, getting the right people in, and a real understanding of what we want to be. We want to be a digital bank with a human touch.

If you can combine digital offerings with great human customer services, this can really differentiate an organization from its competition. That is clearly what we want to be. Branches are important and are a vital part of our business. I see that going hand in hand with digital offerings.