New Entrants and Traditional Banks are (Finally) Trading in Lizard Brains for an Upgrade

Paul Schulte and David Kuo Chuen Lee

Chapter 4 in AI & Quantum Computing for Finance & Insurance:Fortunes and Challenges for China and America, 2019, pp 89-106 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Big banks, Insurance, and Telecom, are all under tremendous stress from digital disruption. Can they make a comeback and compete with the more nimble FinTech giants. In this chapter, we shall look at the response. DBS from Singapore, China Construction Bank in China, and Mandiri in Indonesia are trying to push back the disruptors. China Life, Ping An, SingTel, and Unicom from the insurance and Telecom sectors are also trying to be up to speed with the development in technology.

Keywords: Financial; Lizard Brain; AI; USA; China; Banking; Insurance; Cloud; Quantum Computing; Insurtech; FinTech; Blockchain; Data Analytic; Singapore; Technology; Alibaba; Ping An; Tencent; Baidu; Zhong An; Softbank; Amazon; Google; Apple; Facebook; Microsoft (search for similar items in EconPapers)
JEL-codes: G20 O33 (search for similar items in EconPapers)
Date: 2019
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