Cybersecurity. A topic that’s been well discussed in recent years thanks to rapid technology advances and greater interconnectivity due to the internet of things (IoT).
That was what some of our members came together to discuss and debate last Tuesday. More importantly, the question of how to build trust in the digital age is critical to ensure sustainability of businesses.
We are very honored to have partnered with PwC Singapore to present the first event in the ACCA Singapore’s Smart Finance Series where we aim to bring cutting edge industry issues to the forefront.
Using this platform, we hope to bring practical and actionable insights on dealing with challenges presented by the disruption brought about by technology.
Some of the key takeaways from this event titled “Trust in the digital age” are as follows:
With consumers gaining a louder voice via social media, brands need to build trust into the fabric of their operations and it should underpin how business is organised and run as mentioned by Mr Vincent Loy, partner at PwC Singapore and leader of Data & Analytics, Cyber and Financial Crime.
As much as consumers trust recommendations from family and friends, a company’s reputation can as easily be tarnished just by a negative reviews on the internet. Hence putting customers at the heart of everything the company does is imperative, and this can be done in variety of ways including deploying analytics to understand customers’ needs.
Having said this, the finance professional is well placed to help drive organisational changes in building trust with a company’s external stakeholders given they are privy to a large amount of customers’ data.
The call here would be for finance professionals to then take the lead to drive change. It is not an easy task and requires support from the top. As Mark Jansen, partner at PwC Singapore and Technology and Media Telecommunications leader mentions, “Board awareness of these issues is rising. Ideally they need to have digital expertise on board”.
It was certainly an enlightening morning and we thank all speakers and panelists who took the time to share their thoughts with us and our members.
Vincent Loy,Partner at PwC Singapore and leader of Data & Analytics, Cyber and Financial Crime.
Joseph Alfred, Head of Policy & Technical, ACCA Singapore
Mark Jansen, Partner at PwC Singapore and Technology and Media Telecommunications leader
Ganesh Iyer, Regional Vice President Finance, Asia Pacific and Japan at SAP
Faye Chua, Head of Business Insights, ACCA.
A recording of the panel discussion will be made available soon. Watch this space for more updates.
If you would like to be notified when the recording of the panel discussion becomes available, leave your contact details below.