Virtual Expert Panel

IDC Conference Financial Insights 2021.
Build, Buy or Rent: The Most Effective Strategy Against Financial Crime [Thailand]

GBG was the Diamond Sponsor for the IDC Financial Insights 2021 Indonesia and Thailand conferences, hosting an expert panel to discuss the key topic of “Build, Buy or Rent: The Most Effective Strategy Against Financial Crime 4.0” with IDC and PwC.

From this on-demand Expert Panel discussion, we explore the common dilemma of “Build, Buy, or Rent” when financial institutions (FIs) are required to setup of overhaul their financial crime systems. You will learn how hyperconnectivity and accelerated digitalisation has further exacerbated Financial Crime 4.0¹ in Thailand, the pros and cons of each option and what FIs in Thailand should be considering to be effective against modern day financial crimes.

Insights from the experts

FIs to rethink about extending, replacing or transforming their fraud management systems as the pandemic is likely to extend well into 2022, with new variants emerging.

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The digital Thailand policy push by the Thailand government has led to Krung Thai Bank 2- 3x digital transformation growth in the past year. This would also bring the emergence of sophisticated fraud typologies.

The hybrid mode of buy and build decision involves balancing both basic and complex security needs and detection requirements, as well as budget constraints for FIs in Thailand.

Fraudsters are constantly studying the design of the channels to identify loopholes. FIs need to maintain their systems with quick and effective action against it.

Expert panellists

Michael Araneta

Associate Vice President, Head of Advisory & Research | IDC Financial Insights Asia/Pacific

Nitin Parmar

Partner, Financial Crime Unit | PwC South East Asia Consulting

Polawat Witoolkollachit

Senior Executive Vice President, Head of Technology Group | Krung Thai Bank

Dev Dhiman

Managing Director APAC | GBG

Expert Panel Highlights

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Financial crime landscape in Thailand

Fraud attacks are state of the art, innovative and unpredictable, which bags the question if basic rule-based engines are adequate.

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What is required in a Financial Crime 4.0 solution

A drill down into meeting short term and long term objectives for financial institutions using a fraud system developed in-house.

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When to build, buy, and rent, and why

Considering core and peripheral systems, infrastructure and application layer.

Watch now

Tune in to expert insights and understand the factors influencing the decision to build, buy, or rent fraud risk management systems and the possible pitfalls to these options in the backdrop of cyber and financial crime