Digital transformation: Navin Suri, DigVin VOX Ep 4
Navin Suri talks about why digital transformation is STILL so hard for many banks – and how to change this.
Navin Suri is Singapore-based co-founder and CEO of Percipient, an artificial-intelligence fintech that aims to help banks with digital transformation. Suri, like his co-founders, is from the world of consumer banking and wealth management. He has worked in management and leadership roles at Citibank, BNY Mellon, ING Asset Management, and Nomura Asset Management.
Percipient was founded in 2015, and is also active on APIX, the API Exchange matching fintechs and emerging-market financial institutions, run out of Singapore.
Suri speaks with DigFin about why digital transformation is STILL hard, how to make it easier, the impact of COVID-19 on how banks change, and a software trick he’s taken out of Elon Musk’s playbook.
- Show notes:
- 0:00 – Navin Suri, Percipient
- 1:00 – Bank transformation: slow as ever!
- 2:25 – Are banks’ digital labs working?
- 4:25 – Data lakes, data warehouses…”lake-houses”
- 7:05 – Changing how banks change themselves
- 9:40 – “Digital twins”: Borrowing a trick from Tesla
- 11:25 – The things banks could do with AI but are not
- 13:15 – Why banks and fintechs still struggle to collaborate
- 14:45 – …and can they do it better
- 16:55 – Fintech and crypto impacting banks
- 18:40 – COVID-forced changes: a true transformation?
- 20:40 – The API Exchange in Singapore