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87440 Asean Bank Aug-Sep 2017.Indd Aug / Sep 2017 ASEAN BANKER MCI(P)038/01/2017 To achieve higher growth through cooperation amongst ASEAN banks WELCOME MESSAGE FROM WELCOME MESSAGE FROM CHAIRMAN OF VIETNAM BANKS CHAIRMAN OF ASEAN BANKERS ASSOCIATION ASSOCIATION MR PHAN DUC TU MR KARTIKA WIRJOATMODJO Dear Friends and Colleagues, Dear Friends and Colleagues, Vietnam Banks Association (VNBA) is honoured On behalf of the ASEAN Bankers Association (ABA), to host the 47th ASEAN Banking Association I extend an earnest welcome to all our friends and Council Meeting on November 23 and 24, 2017 colleagues to the coming 47th ASEAN Banking at Furama Resort, Da Nang, Vietnam. On behalf Council Meeting. This year’s Council Meeting of VNBA, it gives me great pleasure to invite our honoured guests will be hosted by Vietnam Banks Association (VNBA) from the 23rd to this annual landmark event. to 24th November 2017, at the Furama Resort Da Nang, Republic of Vietnam. This year’s Meeting takes place in the context of ASEAN’s 50th Anniversary, following the Asia-Pacific Economic Cooperation As this year marks the 50th year of the ASEAN community, it is fitting (APEC) Forum held in the beautiful city of Da Nang. As one of that we come together as a community of ASEAN bankers to further Vietnam’s economic, cultural and tourist centres, located on the our dialogue on consolidation, integration and greater cohesiveness. East Sea, Da Nang is the place where many civilisations blended As FinTech begins to take root in the region and as we embark on harmoniously. The people of Da Nang are friendly and hospitable. sustainable financing options collectively, it is an opportune time Da Nang is blessed to be the tourist capital of Vietnam and the for the banking community to put up a united front. Tapping on the region. resilience and dynamism of our people, with one vision, one identity and as one community, we will together create more opportunities With the aim of strengthening cooperation with associations and for the ASEAN banking commnunity. member banks, this Council Meeting is an excellent opportunity to connect with senior leaders of banks in the ASEAN region. We hope I would like to encourage all member of ABA to participate actively in ASEAN banks will exchange best practices as well as progressively the meetings, to leverage on the collective wisdom of senior bankers, build up infrastructure conducive for enhancing financial inclusion regulators and professionals to strengthen our own strategic and the growth of businesses in the region. pathways for the banking and finance industry and to complement economic developments in the region. This Meeting also presents In addition to the main activities of the meetings, we have also excellent opportunities for you to network with your regional peers designed side activities for delegates to experience Vietnamese and business leaders as well as other thought leaders in the region. culture, local cuisine, and visit the famous sites of Da Nang city and other Central Vietnam Provinces. I would like to thank VNBA for hosting and arranging a series of interesting programme and exciting social activities for all Since joining the ASEAN Bankers Association in 1995, VNBA has participants to have a memorable time in Vietnam. I would also like contributed an important voice in many areas of cooperation, most to thank and extend my acknowledgement to His Excellency Mr Lee recently in the areas of FinTech, anti-money laundering, training and Minh Hung, Governor of State Bank of Vietnam, who has very kindly coordination of member banks in the region. We believe this year’s agreed to deliver the keynote address for this Council Meeting. event will continue to strengthen cooperation and the exchange of experiences and ideas amongst ASEAN banking leaders in an I look forward to seeing all of you at the event and wish you a fruitful integrated world. VNBA is looks forward to welcoming you to attend and enjoyable time in the beautiful city of Da Nang. E the Meeting this November in Da Nang, Vietnam. E Kartika WIRJOATMODJO Phan Duc Tu Chairman, ASEAN Bankers Association & Chairman, Vietnam Banks Association Chairman, PERBANAS - Indonesian Banks Association ASEAN Bankers Association Website:www.aseanbankers.org Designed & Printed by SC (Sang Choy) International Pte Ltd 2 ASEAN Bankers Association I Aug / Sep 2017 DA NANG INSIGHTS: FURAMA RESORT DANANG Located on the world-famous Da Nang the resort’s own helipad, from which the Furama Da Nang evokes a sense of beach, Furama Resort Da Nang presents you may enjoy the picturesque views of nostalgia of the yesteryears. The ancient an idyllic retreat from the hustle and Da Nang city, iconic landmarks like the design of the beachfront steakhouse also bustle of modern city life. White sand Dragon Bridge, Marble Mountains and reminds one much of South East Asia once used to come under the rule of the ancient beaches, azure blue seas, canopies of the Han River. Kingdom of Champa in the 16th century, green envelop you in a cocoon of calm. Reminiscent of Vietnam’s rich colonial one of the most advanced civilisations to history when the French used to occupy Just 5 minutes south of the Furama Resort rule much of South East Asia, the dynasty it in the 19th century, the Asian-style that ended when the final vestiges of the Da Nang are two 18-hole golf courses, brasserie, rattan furniture, ceiling fans, kingdom were annexed and absorbed by Montgomerie Links Vietnam and Danang French windows, old photographs and Vietnam in 1832. E Golf Club. Helicopter tours take off from memorabilia that adorn the walls of FROM THE DESK OF THE SECRETARY GENERAL Greetings to all from the Secretariat Office. to prepare for and embrace the next wave of the digital economy. To this end, a series of Fintech and digital Workshops First of all, let me wish one and all a happy 50th ASEAN were held in Bangkok, Jakarta, Hanoi, Manila and Yangon. Anniversary. As a community, we have come a long way in As an Association, we have great potential to influence the our achievements. We should be gratified of it. future of banking, creating a more equitable and financially inclusive economy within ASEAN. At the same time, we must ASEAN is now the world's sixth largest economy with a largely also be mindful of the growing importance of sustainable youthful and growing population of 625 million people that and responsible financing that must be our mainstay for the presents plenty of yet untapped potential for the future. GDP long term goal. per capita has quadrupled from US1,054 in 1996 to USD4,000 in 2016 and employment has grown by 70 million since the The ASEAN Banking Council Meeting, our highpoint event turn of the new millennium, with millions having been lifted of the year, is drawing near. Our host, The Vietnam Banks out of poverty. By 2030, we are projected to be the world’s Association (VNBA), has been hard at work to make this a fourth largest economy. memorable and fruitful event. The meeting will be held at the Furama Resort Da Nang, a lovely coastal resort. I look forward Harnessing this dynamism and blessed with the energy of to your valued presence and participation at the meetings the ASEAN people, the ASEAN Bankers Association (ABA) is and to a productive get together. E playing its part to continue to push ahead with building up knowledge and collaboration within the Fintech ecosystem Mr Paul C G Gwee ASEAN Bankers Association I Aug / Sep 2017 3 WHERE TO BUILD THE INFRASTRUCTURE – CLOUD? INTRODUCTION § Criticality of service to FI, customers & partners Cloud computing is evolving and expanding rapidly. The benefits § Regulatory and privacy restrictions of cloud can be immense as cloud can enable Financial Institutions Operational Risks (FIs) to deliver business outcomes and innovations quickly, securely and sustainably with little, if any capital expenditure. And there are § Confidentiality, integrity and availability of the data as many different kinds of cloud services as there are Cloud Service maintained Providers (CSPs). § Where the data is stored – if off-shore, are the additional Key cloud considerations revolve around data protection and data legal implications and risks assessed and well understood? sovereignty, which apply to any form of technology service, but § Data encryption – who generates, holds and distributes the they can become more complex in cloud. This is because the cloud encryption keys? platform may be shared with many other unknown tenants, where § customer data may be stored and processed in different jurisdictions. Monitoring of data over a diverse cloud-based supply chain § Accessibility of cloud services for users – that it is seamless Financial Institutions (FIs) must choose the right cloud service and yet secure service provider for the job based on common Service & Deployment models, in order to get the optimum benefits from cloud, without § Independently assured certifications and accreditations that compromising the overall security of information assets. the CSP hold § Having a clear “Exit Plan” whereby the data and service can SERVICE MODELS DEPLOYMENT MODELS be easily moved from one CSP to another Infrastructure-as-a-service Public cloud § Fit-for-purpose cloud contract that is compliant with all (IaaS) Applications, data storage and applicable regulations CSP provides a virtual other resources owned and infrastructure for application managed by CSP. § Jurisdiction of the CSP specified within the contract for the processing and storage of data. purpose of conflict resolution Platform as a service (PaaS) Private cloud B. TOP 10 KEY CONSIDERATIONS FOR FI DECISION MAKERS On-demand environment for Consumers procure dedicated consumers to develop and deploy infrastructure from CSP. Risks to adoption need to be well understood and mitigated.
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