Friday Dec 13, 2024
Friday Dec 13, 2024
Tuesday, 1 November 2016 00:03 - - {{hitsCtrl.values.hits}}
Digitalisation, described as the integration of digital technologies into existing business processes to achieve greater value addition, offers tremendous promise accompanied by great risks. It is claimed that digitalisation is changing the fundamentals of the modern world.
Others view it as just another phase of a technological cycle. However, the more tangible and obvious results of digitalisation are omnipresent. Mobile supercomputers, artificial intelligence, self-driving cars, neurotechnological brain enhancements, genetic editing and digital printing are some of the awe-inspiring examples and these advances are occurring at an incredible speed.
Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, used the term ‘Fourth Industrial Revolution’ to describe these phenomena that impact all disciplines, industries and economies.
The financial service sector is no exception to its pervasive influence. At first the banking industry benefited immensely from these technologies through the automation of its operations. The technology marched on and has now taken the form of large-scale digitalisation.
Having revolutionised payment and settlement methods and created digital currencies, digitalisation is now encroaching on lending and financing activities through crowdfinancing, credit appraisals and credit scoring through crowd sourced information activity hitherto carried out exclusively by bankers with almost religious zeal.
Banks are now faced with the daunting task of adapting to the new environment of the digital world.
In riding this unstoppable wave, through adoption, adaptation and other innovations, the major concern of the State and the financial services industry will be the handling of security threats in cyberspace, a technological and regulatory matter of the highest importance.
Bankers have lived through multiple economic cycles and periods of political and social unrest and can overcome any looming crisis. Bankers cannot afford to be too conservative but must be adaptable and adventurous, believing that the best of times lie before them. They must march ahead with the conviction that digitalisation is a process within the industry’s control and that they can and must reap its benefits to the fullest.
The inaugural session of the Association of Professional Bankers – Sri Lanka’s 28th Anniversary Convention, themed ‘Thriving in a digital world’, will be held on Wednesday, 2 November 2016 at Cinnamon Lakeside, Colombo. Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy will grace the occasion as its Chief Guest while the Guest of Honour will be Microsoft Sri Lanka & Maldives Managing Director Brian Kealey.
The inaugural address will be delivered by Dr. Coomaraswamy and the keynote address will be delivered by Kealey.
The presentation of the Anniversary Convention Volume will also take place. The 24 writers who have contributed articles will be presented the Convention Volume by the Governor.
One of the key features of the inaugural session will be the presentation of a lifetime award by APB to a distinguished banker who has made an outstanding contribution to the banking industry.
The inaugural session will conclude with fellowship and cocktails.
The technical sessions will be held on Thursday, 3 November.
Presentation 1 has been themed ‘Changing Tide’ and its presenter will be Standard Chartered Bank, Singapore Digital Banking Head T.G. Ramakrishnan.
Presentation 2 has been themed ‘Charting the course’ and its presenter will be Rajasekara V. Maiya, Associate Vice President and Head –Finacle Product Strategy, Infosys
Following the first two presentations, Panel Discussion 1, which is themed ‘Through the looking glass – Debrief’ will be moderated by Sampath Bank Plc Director Deshal De Mel and its panellists will be the first two speakers, Ramakrishnan and Maiya.
Presentation 3 has been themed ‘Uncharted waters’ and the presenter will be Silverlake Digital Economy Chief Executive Officer David Brearley.
Presentation 4 has been themed ‘Sentinels’ and its presenter will be Ernest & Young LLP Partner Kartik Shinde.
Following the third and fourth presentations, Panel Discussion 2, which is themed ‘The adventure – Debrief’ will be moderated by Information & Communications Technology Agency of Sri Lanka Director Jayantha Fernando and the panel will include Sri Lanka CERT Chief Executive Lal Dias in addition to the two speakers Brearley and Shinde.
Presentation 5 has been themed ‘Man over the machine’ and the presenter will be The Boston Consultancy Group Partner & Director Prateek Roongta.
Presentation 6 has been themed ‘Clear skies or storms’ and the Presenter will be Rukula Ltd. Chief Executive Officer Reeza Zarook.
Panel Discussion 3, which is themed ‘Be agile, adjust and adapt – Debrief’ will be moderated by Commercial Bank of Ceylon Plc 
Executive Director/Chief Operating Officer S. Renganathan with the panel including Roongta and Zarook.
A novel feature of this year’s convention is the Chief Executive Discussion, which is themed ‘Reflections at the top’. The Chief Executive discussion will be moderated by former Sampath Bank Plc Managing Director Aravinda Perera and will see the participation of State Enterprise and Development Deputy Minister Eran Wickramaratne, Hatton National Bank Plc Managing Director Jonathan Alles, Epic Technologies Group Chairman Dr. Nanaya Dehigama and Hayley’s Business Solutions Managing Director Dr. Arul Sivagananathan.
The agenda of the convention has been designed to suit the diversified interests of a wide spectrum of professionals in the banking services industry and other related sectors, including the following categories:
