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

In: AI & Quantum Computing for Finance & Insurance Fortunes and Challenges for China and America

Author

Listed:
  • Paul Schulte
  • David Kuo Chuen Lee

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.

Suggested Citation

  • Paul Schulte & David Kuo Chuen Lee, 2019. "New Entrants and Traditional Banks are (Finally) Trading in Lizard Brains for an Upgrade," World Scientific Book Chapters, in: AI & Quantum Computing for Finance & Insurance Fortunes and Challenges for China and America, chapter 4, pages 89-106, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811203909_0004
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    More about this item

    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;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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