The Asian market is currently undergoing unprecedented change. Many banks have explored and adopted new technologies to remain competitive and ensure that they continue to offer their customers an efficient service. While many banks have wholeheartedly embraced these new technologies, others are still on the sidelines. Their uncertainty has led to an aggressive influx of Fintechs to move into the banking industry, many of which offer digital wallets with built-in payment processing platforms. These new technologies are efficient, easy to use, and as they are cheaper, they are a threat to traditional banks.  Dragon Social Wallet (DSW) users already benefit from free DSW to DSW transfers and low fees of 0.5% for external use.

Additionally, all users of the Dragon Exchange (DRGx) can use two excellent payment gateways, Skrill and Neteller to fund their accounts. Both of which offer pre-paid debit cards for the ultimate flexibility when using fiat and digital currencies.

The inrush of alternative payment methods has made it possible for providers of all size to enter the increasingly crowded market and allowing them to make substantial profits. To address this issue and explore how the banking industry can transform, the EFMA Retail Banking Summit 2019 has been organized. This event will address the challenges of embracing new technologies at the same time, offering banks tips on how best to embrace and make use of these emerging technologies. Scheduled to run in Singapore on the 6th and 7th of November, this event will have in attendance some of the top executives in the banking sector.

To address these problems, the organizers have gathered some of the brightest minds in the industry as guest speakers. The opening discussion of this two-day event to be delivered by CEO of EFMA France Vincent Bastid will focus on "leadership in digital". Vincent will discuss the importance of digitization and how it can help transform the Asian banking sector. Other key speakers for this event include Managing Director of DBS Bank Singapore, Su Shan Tan and CEO of Maybank Singapore, John Lee. Tan's talk will focus on the digitalization journey of the DBS bank and how others can learn from it.

If you haven't tried out the features of the Dragon Social Wallet yet, you can download it free from here, and please let us know if you discover other great payment gateways for DRGx in our lively Telegram community.