AMEU (Associations of Malaysians Economics Undergraduates) Economics Summit 2020 took place on the 8th and 9th August 2020 via Microsoft Teams online platform.
Every year AMEU Economics Summit bring together professionals from various backgrounds into their panels. This year summit aimed to shine some light on how Malaysia can mitigate the risks faced and ensure a future-proof economy. The theme for this year summit was “Economics After Tomorrow – Building Malaysia’s Economic Resilience”.
The opening keynote was by Tan Sri Dr Zeti Akhtar Aziz, Group Chairman of PNB, previously the 7th Governor of Bank Negara Malaysia. The keynote aimed to provide insights into the varying ways economic resilience and risk has manifested in Malaysia, from the past to the present. One advice that I like most from Dr Zeti was on building personal resilience above all other resilience.
Topics discussed in the panel discussions were:
- Job Security in Malaysia
- Business Resilience
There were also discussions in the form of interactive sessions on the following topic:
- Trade-Talks and Re-imagining The Role of Government in the Economy facilitated by Mr. Lau Zheng Zhou, Research Manager, Economics & Business Unit from IDEAS.
- The Basics of Personal Finance and Investing facilitated by Mr. Wong Wai Ken, Country Manager of StashAway Malaysia.
My employer Silverlake is the main sponsor of this event and I represented Silverlake in facilitating interactive session on the topic of Digital Banking. Part of the discussions, I shared the following characteristics of digital banks:
- Completely paperless, signatureless and branchless bank
- Customer authentication using biometric enabled ID
- Customer Service is by 24 x 7 AI-driven Virtual Assistant
- Leveraging on futuristic AI such as conversational technology to deliver hassle-free banking services
- Dynamic inbuilt enhanced security
- Leveraging on partner ecosystems such as shared ATM networks and POS terminals
- Able to understand customer behavior and preferences, synthesize data and provide recommendations
After my introductory presentation, the participants were divided into breakout sessions to discuss on the topics of digital banking. After the breakout session, a representative from each group shared their discussion points. Some of the key ones that I found interesting are:
- Digital Banking services save customers’ times
- Fast and efficient services
- Secured (no need to carry cash around)
- Easy to keep track spending
- Convenient on-boarding process
- Environmental friendly (e-statement)
Although the participants are mostly undergraduate students and a few recently graduated, I find their questions and comments are very relevant to the topics. I am impressed with these young minds! Special mention to Ms. Lim Ru Jin, AMEU representative that coordinated with me the preparation for my session. She was also the MC on the day of my interactive session.