The Rise of Technology in Financial Sector and the Future of Work
[Music] thank you [Music] hi OJs welcome back to job bites episode Enterprise okay episode the rise of technology in private show factors and the future of work versus Malaysia and recently working at PWC in Indonesia High passes I'm fine thank you thank you so much what does the future of the financial services we start from banking we have insurance we have investment and also pension right so all these four definitely they are going through a revolution where a lot more digitalization is being used yeah so previously we know that we only have internet banking now we have Mobile Banking and then in future is pure digital banking um similarly with insurance and also pensions and investment now you can just open any efficacy yeah the internet too then you can get access to it so um I'll say that some it's rapidly changing and not just in Indonesia not just in Asia but also the whole world itself and the use of Industry 4.0 that we're talking about like AI machine learning Internet of Things is being rapidly used and I would say that the changes are rapidly coming and it's doing it's going very well that's what we're going to see in the in the future oh good yeah now uh how how has the backing uh and financial industry adapted during the end of the week Ah that's a good question actually so um previously I would say it's a bit not as fast as during pandemic so that was a real test yeah during pandemic itself um people have to stay in the house kind of go out right and at that time everything you have to use internet mobile banking internet banking yeah similar with insurance and benches you have to do it so the financial the technology adaptation was really rapid during during pandemic and after that it's like uh we're getting used to it right but it's also I call it like a double a shot that people more people using Financial technology but at the same time there's also account it like um Financial threat you know like cyber security attack and obviously everybody has to like really strengthen I mean every every financial institutions have to strengthen their financial type of security at that time to make sure there's no more like a fraud or Cyber attack uh so what are the challenges of implementing in the three Pokemon in Indonesia spinals Financial sectors okay I would say that uh okay number one is always about um the internet coverage yeah coverage how how is very important to its education and everything so that's number one I'll say it number two I'll see that's like a mindset people love to talk about uh baby boomers Gen X Gen Y Gen Z I don't like to do to use that right excuse me yeah leveling let me know put aside yeah um the mindset has to be like do a step near the future all right when we set this the future then we have to invest to make sure that we Embrace technology yep so I'll say that these two is um is the main problem now what is internet coverage indeed number two is the mindset where oh technology is only for the younger generation but actually no Financial technology is for everyone that's fun okay so next walk what are the benefits of technology in financial purposes ah okay let's go one by one all right number one will be access okay at certain coverage right just imagine like before this only those um stay near a crunch a bank branch or a insurance Branch only them can buy it right but because of that after that we have like this internet banking we are digitalization then those who live far away from any branches can start having a bank account can start having uh insurance as well yep they can have uh start having that right number two let's talk about the customer experience itself like before this you know go to the branch is [Laughter] a book you send a submit and it's easy so in terms of customer experience itself is better the third one from the perspective of the financial institution itself previously you can only have this big customer base but with technology you can you can reach more people more different groups and then definitely your customer base will be bigger then comedians [Music] is more suitable for product being and that's how you mention them you match them well and then when you it makes it more efficient how will the technology affect jobs in finance previously there are certain mindset saying that with technology definitely you'll need less people to work I disagree with that all right so actually technology like I said just now technology makes your customer base bigger you reach more people and definitely I mean you have you need more manpower to also process at the back end right technology yeah it makes jobs simpler I do agree with that right processing time shorter at the same time the extra time that you have you see from there will be used to improve on other things for example customer experience increasing your sales towards a new new segments Etc so that's how I see how technology can help in terms of the job market itself that's number one number two you cannot run away from technology right we all agree that yeah we all agree but uh you cannot run away from technology so if the financial sector don't adapt technology then you miss you miss on certain segments who really Embrace Technologies just imagine like uh in a day how many times you look at your phone yes exactly right yeah yeah more than 10 right so uh definitely if if as a financial institution if I don't Target you you know if my advertisement Etc then I miss opportunity for you to know about my product exactly yeah so so that's how I see that hard technology will change the I'll say that the job market itself yep um how depends on the creativity of each financial institution which majors can graduates Works in financial technology ah okay that's a very interesting question yeah yeah true the old school thinking is you need to take out economics or banking yeah then then you can be in the financial world yeah I can't think yeah but um throughout my own career myself right I've seen people with different kind of background for example like physics engineering they decide to deliver the financial sector itself they want to be in financial sector so that's that's the I would say that like the non-traditional ones right and then um talk about like all the IP implementers those who learn computer science I.T software engineering Etc uh we with the rapid use of Technology recently right um and going up into the future then you can see more of them start to be more interested in financial sector yep and obviously similar with that like the legal background or those in Creative Marketing background they also involve in financial sector now because of the new products definitely you need good lawyers to make sure that it's being done performed well right yeah similarly with the marketing side you can't really stay in the way that you have done before it must be different in terms of approaching the new segments so yeah I'll say that everyone is invited it doesn't matter which major you are in as long as the passion is there you can work in the financial sector as long as the pressure is still in here what types of jobs can you get with a finance for economic treatment yeah okay I would say finance and economic degree definitely they can Venture in any kind of um Industries yeah because whatever business a proper accounting right proper account um what do you like the most the most about YouTuber among the reason is number one is the opportunity to keep on learning from time to time yep so from there I start to realize that the financial industry itself is that it keeps on changing so what happened when it keeps on changing number one is it possessed in a situation where we feel a bit uh uncomfortable and then how to make ourselves to be comfortable is by learning right so you have to keep on learning okay adapt keep on looking at what's the impact and then you have to read around to make sure that you um sort of like uh be on top of all the changes not just in Indonesia but the whole world all right so from there that's what makes our life interesting because we have to like keep on learning keep on discussing yeah the intellectual position keep on going and that's when we use that as a product to our client and that's quite satisfying so I'll say that um because of the changes that keeps going on makes this key on learning um keep on discussing among us and then provide the best solution to a client and when that cycle is keep on going and going and going and that makes our life interesting and that's why that's why I love my job so much yeah uh when it when it comes to especially books uh which book has had the most impact in your career I'll quit this way there are books but only for the technical bits and another range of books for soft skills right but the one that really impact me into soft skills will be seven times bits of Highly Effective People all right uh that one really I'll see change shaped me as a person at the workplace there are a few things that um that really I'll say until today I keep on applying it and keep on advising everyone else right so number one is I would say that I expect your circle of influence so each shot is trying to tell you that you have to keep on learning right keep on learning yourself so that you improve your your spend your circle of influence that you're the same yes what skills have been most say um adaptability yeah so you like it or you don't like it change will come you know from time to time to survive in financial sector not just finish the other sectors as well um you have to be adaptable so throughout my 14 years of working experience I see myself a lot of changes in the financial sector right and sad to say that those who don't embrace the new changes are being left behind yeah so you have to keep on adapting yourself to the new environment all the time how about technical skills okay so when I talk about the adaptability is automatically covers the technical skills so for example if there's a new regulation in the whole world for example a financial sector we always have regulation right um the moment the moment that happens you just have to like read Around uh the new subject itself learn about it um yeah I have yeah foreign what's the best advice for planning a career instead of working just to keep a job okay so my advice will be make sure you have you are passionate about the job itself right um once you're passionate definitely there's a the burning desire to keep on going so when the passion is there for example there are new challenges coming in for example like I would say the new regulation just now right when you are passionate you definitely will read Around the new subject learn about it discuss because the fashion is the end you you are willing to spend extra time for it because the passion is there right okay but the next question is actually everybody else keep on asking me like how I want to know that's my passion so definitely for young graduates um in the first three to five years of the shop itself I would say that this dish is exploration stage it is do it that's it no feel it then after a while you have to realize that okay which one is going to do my passion all right and once you've found that then keep on going with it that's number one right but what if your passion change after five years to me that's quite normal so how do you continue to learn at group as a professional okay before this is worth by force definitely because um yeah similar like doctors um I mean those investors like myself I'm an actually we need a professional certification once you have it then you can sign certain documents positivize other documents so uh before this I will say that that's what I do yeah learn um around the exam examination and then the exam itself also encourages to read around on the wider areas so that make sure that our our job textbook yeah very like uh relatable to the real world at the same time the also keep on coming from time to time right so um it also like uh sort of like make me interested to to read about it you know they call it these disruptions okay or an AI comes in like okay what I can do all right okay if AI can do that how it can be implemented in the financial sector or for myself or insurance industry so that's how I keep like a the equality of making me like read Around try to find things right um yeah I mean naturally when you are passionate about things you will read around and that makes you yeah excite it every day yeah advice would you keep for someone like me uh who wants to be in your place I like yours wanted okay so number one thing in this I call it like a very globalized World never ever limit yourself right okay so for your kids you are in a creative background definitely any industry any business will need your talent all right there's no such thing as this oh this is very traditional we don't need creative people in no no never never put it that way yep so if you look back at all these um e-wallet e-money or digital banking digital um there will be like 50 or hundreds of them coming out right but how do you want to be appreciate themselves that's where the marketing creative creativity will come in to make sure that that particular institution have its own unique selling point for me I can think about technical but how to make a very nice a clan you know in IG really I learned that idea so it needs to be together it needs to be together yeah that's why I would say that like the financial sector those people like me with like a traditional background and I need those I.T implementers you know uh those from within IIT into cyber security programming Etc at the same time I really need those um creative creative mind to be sure that we can Market our product well I always tell this to everyone if you have something okay something great but if you don't Market it well is purely useless I already see that right and I've seen around there are some products in my opinion it's a bit average but they Market well and everybody likes to get to it and we're gonna guess what yeah it goes very well and and after that people just think that oh that's the best because of the way is being marketed and there are some products it's very good but it's just the marketing thing is like in the end you want to reach more customers so your brain is needed in that yeah company uh how do you organize a very short time I was I was thinking like if it's very busy work busy hour with busy company right it is it is yeah okay so um number one let me just clear it right it's not as bad as it sounds all right yeah true I started my my career at bank together Malaysia before that I was thinking like oh the big four must be extremely busy yeah all right and then after all then when I joined them it's like yes it is but it's not as bad as it sounds right so um it's fine so the way I manage my time is also similar to how I manage my time elsewhere all right um especially with this current and child working environment you are responsible for the time yeah for your for your own time so from there to me is for me definitely there are basic skills for example like you prioritize the important ones yeah at the same time make sure you have your own me time do your hobby because to me it's like everybody can take a lot of stress as long as they know how to release I normally ask like what's your hobby yeah I'm already with these people because to me managing your own time and stress is very important okay maybe the the the point is you have to have on my support shop is your hobby exactly yeah and don't be afraid to the estimate that you want your hobby some some people are very afraid that my hobby is not so nerdy or like nothing to do with my job right let me know just mention whatever your hobby is because again when you for example if you live on sit that's your hobby for example and you meet people from different backgrounds all right and when you mix along with them it makes you a better person right and at the same time they are the strangers who are going to be the customers of your product at your company yeah so I'll say like and the community that you meet will widen your perspective about life right so yeah that's what I'm suggesting yeah thanks thank you so much yeah thank you yeah app stores also you'd care sign up at 3.w.orp.com see you in the next episode bye foreign foreign
2023-05-05 09:36
