Consumers & Payment Technology: Their Impact on Strategies for the Cash Cycle
Technology has had a major impact on the payments landscape. Where once cash was the only option available, today consumers have a plethora of options at their fingertips to pay their rent, bills, daily items and each other. We are without doubt entering a new paradigm for payments. Cards continue to be widely accepted and smartphones are increasingly used by the younger generation to make payments and to manage their money.
As the cash industry plans strategies for the future it's important to understand the impact of this new paradigm on the level of cash transactions and therefore the cash cycle. Of course, the situation varies country to country but we can begin to spot trends and explore what the future may hold.
In advance of the Asia Cash Cycle Seminar (ICCOS) 2017, Currency Research and Cash Services UK ran a webinar exploring the following themes, the discussion on which will be expanded and elaborated during the Seminar:
• The payments landscape in Asia
• The changing payment habits of the millennial generation
• What drives payment choice?
• What is the impact of technology on strategies for the cash cycle
The great benefit of the webinar approach is that even before the session begins in Bangkok, both panelists and delegates will be informed and ready to debate, providing fertile ground for an innovative discussion and creating a positive impact on the debate. If you were not able to join the webinar please see below for a recording:
Cash Services acts as a focal point for the provision of strategic direction on co-operative (non-commercial) issues for cash in the UK. Its overall aim is to ensure that cash can circulate efficiently and effectively, and risks in the cash cycle are managed to this end. For more information on please visit cashservices.org.uk or contact David Fagleman (email@example.com)
David joined Cash Services in 2015 and is responsible for delivering a programme of research into the future of cash. He facilities and participates in discussions across the industry on the changing role of cash in the payments landscape.
David previously worked for the Westminster-based think tank ResPublica, where he delivered projects and authored policy-focused research reports on financial reform and housing. He also worked for the innovation foundation Nesta and a Member of the UK Parliament.
Bio: Zulkanain Kassim was appointed as Chief Operating Officer at AFFIN BANK, Malaysia in October 2016. He is responsible for planning, organizing and controlling of all operational activities of the Bank, which includes IT Services, Banking Operations, and Loan Administration and Documentation.
Prior to AFFIN BANK, Zulkanain was Group Managing Director of MEPS, Malaysia since 2011.
Zulkanain holds a Bachelor of Science (Hons) degree in Computer Science from Universiti Teknologi Malaysia and obtained his Senior Management Development Programme from Harvard Business School, Harvard University. He is the recipient of the coveted Leadership Award – Individual by CEPI Asia in modernising Malaysia’s payment infrastructure.
Zulkanain brings with him more than 26 years of experience in financial services industry. He has a track record with both domestic and multinational banks and has been earmarked as an IT professional with broad experience in conventional and Islamic banking, payments, technology and infrastructure.
Bio: Mr. Srihanath Lamsam is EVP, Head of Payments and Disruptive Technology Office at Siam Commercial Bank. He is responsible for payment innovation and disruptive technology.
Prior to joining SCB, Mr. Srihanath held numerous positions at leading organizations including Kasikornbank PCL., Advance mPAY Co., Ltd and Advance Info Service PLC.
Mr. Srihanath holds a Master of Science in Mobile, Personnel and Satellite Communication from The University of Westminster, London and a Bachelor of Engineering in Electric Engineering from The University of Thai Chamber of Commerce, Bangkok.
Bio: Dr. Anne Lewis is Head of Product Development for Vaultex UK and as such works with client banks on cash products for the whole cash cycle. Anne has over 20 years’ experience in the cash industry in ATM maintenance, CIT and Cash Processing. Previously she was President of ATMs Worldwide for Securitas, with full accountability for 50,000 ATMs across 11 countries and was also Group Operations Director CIT for Loomis UK, managing a £110m budget for 32 CIT depots and 800 CIT vans. Anne has an interest in the payments industry generally and has recently completed a doctoral thesis with Manchester Business School, discussing the social dimension of the consumer requirement for cash.