欢迎访问文传商讯!

全部新闻

Only 35 Per Cent of APAC Businesses Have Made Operational Adjustments to Meet New Consumer Demands for Digital Engagement Since COVID-19

发布时间:2020-09-16 10:22


Experian’s research shows increase in organisations adapting artificial intelligence and machine learning to deal with economic uncertainties

SINGAPORE--()--The pandemic has accelerated a digital transformation for many companies, but just over a third (35 per cent) of APAC organisations have made operational adjustments to meet new consumer demands for digital engagement. With more than half of 1,200 consumers surveyed in APAC expecting to increase online spending both in the short-term and within the next 12 months, 43 per cent of consumers have higher expectations of their online experience, according to Experian’s Global Insights Report, one of the first large-scale surveys assessing the impact of COVID-19 on businesses and consumers.

Experian – a leading global information services company – surveyed 3,000 consumers and 900 executives working in retail banks, e-commerce, consumer technology and telecommunications. Respondents spanned Australia, Brazil, France, Germany, India, Japan, Singapore, Spain, the United Kingdom and the United States. The survey was conducted in June and July and covered consumer and business economic outlooks, financial well-being, online behaviour and more.

The survey found that since the start of the pandemic, top priorities for businesses include the health and safety of their employees and customers, as well as adjusting their operations to ensure business continuity. The pandemic could potentially add US$440 billion to credit costs in Asia Pacific and organisations are utilising digital solutions to manage customer credit risk, with 22 per cent planning to use on-demand cloud-based decisioning applications.

Globally, twice as many consumers are having problems paying their bills since COVID-19. This is a trend prevalent across all regions, with more than a fifth (21 per cent) of the 1,200 consumers surveyed online in Australia, India, Japan and Singapore finding it challenging to pay their credit card and utility bills since the start of COVID-19. The report highlighted a three per cent increase among consumers who are increasing their use of credit, and a two per cent increase in consumers applying for personal or short-term loans.

Ben Elliott, CEO Asia Pacific, at Experian, says: “The pandemic has exacerbated broader global economic uncertainties, and consumers are feeling the impact of the coronavirus. This is a defining period for how banks and financial institutions treat their customers, as how they treat their customers during these challenging times will impact customer loyalty in the long run. Our data shows that 41 per cent of customers in Singapore, India and Australia would give an organisation more business if they felt they were treated fairly – courteously, honestly and without bias – during the pandemic, higher than the global figure of 38 per cent.”

72 per cent of APAC organisations are using artificial intelligence (AI) and machine learning to cope with uncertainties in today’s marketplace; higher than the global figure of 69 per cent. Decision management (13 per cent), artificial intelligence, credit reports and scores, and decision optimisation (each at 12 per cent) have been some of the top solutions most commonly used by organisations in the region to assess and manage customer credit risk.

Mr Elliott adds: “The acceleration of digitisation of the economy means that banks are under increasing pressure to move to digital channels to acquire and serve customers, given current social distancing mandates. We're supporting our clients – such as banks and financial services providers, telcos and technology companies – by providing the flexibility of on-premise and cloud-based solutions. Experian’s latest cloud based PowerCurve suite of decision management solutions enable companies to automate decisions across an increasingly complex customer journey. We provide the option of pre-configured solutions for organisations that prefer standard, ‘out of the box’ applications, as well as solutions that can be tailored to their infrastructure and requirements for rapid deployment, so clients are up and running in days.”

An example of a bank successfully digitising their processes on the cloud is AU Small Finance Bank, a retail bank in India. AU Small Finance Bank digitised its previously manual lending process with Experian’s PowerCurve Customer Acquisition. The end-to-end solution involved digitising and automating the application and approval process for a new credit card offering, enabling automated decisioning, and provided the ability to host and configure scorecards.

“Being able to tap into Experian’s data, decisioning software and analytics has helped us accelerate our own transformation while we continue to redefine the banking experience for consumers in the markets we serve,” says Mayank Markanday, President and Chief Risk Officer at AU Bank. “Out-of-the-box decision management technology saves us time and resources, so we can focus on delivering innovative solutions to meet our customers’ needs, always guided by the principles of simplicity, inclusion and progress for all.”

Read more about findings from the Global Insights Report here.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

Contacts

Magda Niewczas
PR & Social Media Manager, Ying Finn Partners
magda.niewczas@finnpartners.com
+65 8452 2069

Joyce England
Head of PR & External Communications, APAC, Experian
joyce.england@experian.com
+65 9750 4112

金联创 xinhua08 cacs takungpao China.com 和讯 财讯 C114.net 看商界 畅享网 中国能源网 证券之星 金融界 中金在线 天和网 中国金融网 中汽传媒 国际财经日报 中国环保网 今日亚洲新闻网 百歌新闻专线 亚洲商机 新华网能源频道 IT资讯网 中国智能卡论坛 广西物流网 品牌世家 汽车点评网 中国电子标签网 360教育在线 21世纪保险网 中国能源投资网 中国电子商业联盟 中国汽车咨询中心网 煤炭供应链 美国证券网 百奥知 CTI论坛 中国测控网 北极星电力网 能源财经网 福建之窗 智库在线 eeworld 电脑商情在线 中国电池网 赢商网 湖南信息港 赢在中国网 比邻星环保网 中国制造业门户 中国涂料在线 渝网 - 了解重庆第一站,重庆城市生活门户网站 中国云计算第一门户网站—中云网 投资界 i美股 天和财富网 太阳能信息网 爱中国能源网 世纪新能源网 中国新能源网 PVMate.com 环球外汇 橡胶网-hc360慧聪网 百年企业在线 IT168 米内 汽车工业网 第一车市汽车网 股市资讯 中国西部网 中原汽配网 科技在线 煤炭网 51招生网 教育人生 驴皮网 物流北京 51电池搜索网 大众医学 岭南医药网 5联网 股城网 BIT CNELC XXTLW 外汇通 供应链中国网 中国粘合剂网 中国储能网 家具迷 家居装修网 中華检测网 中国食品招商网 华东化工网 新疆第一汽车网 中国汽车用品交易网 大娱网 中国汽配网 山东化工网 960化工网 妈咪爱 塑胶五金网 慧聪电子网 迈点酒店网 火爆网 emcsino eetrend 绿色节能网 赤浪绿色新能源网 中国商业网 生物无忧 全球医疗器械网 贷商网 手机在线 汽车轻量化在线 中国汽车材料网 科易网 中国电子顶级开发网 中国POS机网 乐康家居 必修 国易网