Virtual Expert Panel

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

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 Indonesia, the pros and cons of each option and what FIs in Indonesia should be considering to be effective against modern day financial crimes.

Insights from the experts

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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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An unprecedented growth in financial products was presenting FIs in Indonesia with new challenges, spanning fraud, identity, credit, and working capital management.

There is an operational burden on Indonesia FIs to keep the existing systems they have built up to date, and it has led to a large number of false positives.

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

Expert panellists

Moderated by Dev Dhiman, Managing Director, Asia-Pacific, GBG

Michael Araneta

Associate Vice President, Head of Advisory & Research | PwC South East Asia Consulting

Nitin Parmar

Partner, Financial Crime Unit | PwC South East Asia Consulting

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