Digital Wealth Asia Forum 2019 HK - Exclusive Insights - Bassam Salem - 5

Bassam Salem of Obuhi

Nov 29, 2019

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1. Why is data and feedback so important?

Video transcript

1. Why is data and feedback so important?

Banks have a massive amount of data, and I think because of the regulation in the many countries where they operate, they are extremely cautious in the way they use the data and where they send the data. But there is also a lack of appreciation of the value of the data that they have, specifically, the behavioural data that they have about their client. And whether to engage and get to know the data better, and learn how to emulate some of the social media use of that data, such as, if you bought that stock, you may be interested in that stock, clients like you invested in this kind of theme. I think there is a lot of value that can be derived from the data that they have, but they need to discover the data that they have, and then they have to learn how to engage that data, how to play with it, and use it with their clients. I think we are far from there, in the private banking industry.

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