LONDON, Sept. 19, 2024 /PRNewswire/ -- Experian's latest research, conducted by Forrester Consulting, delves into the strategies of senior decision-makers in the financial services and telco sectors across EMEA and APAC. The survey of over 1200 C-suite and Director level leaders in Australia, Denmark, Germany, India, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands reveals how businesses are leveraging Generative AI (Gen AI), consolidating datasets to improve decisioning models, and prioritizing customer experience to navigate challenging economic conditions and technological disruption.
The race to harness GenAI is well underway
Business leaders identified technological disruption as the third largest external factor impacting their business in the coming two years, putting emphasis on the race toward AI supremacy to improve business efficiencies and reduce costs. Sixty-eight percent of participants believe that competitive advantage in their industry will be dependent on who can make the best use of AI, and nearly three-quarters (73%) of the technology leaders are exploring GenAI use cases with a view to implement them within the next year.
Technological disruption is a catalyst for improving customer experience
Survey respondents highlighted a centralised cloud-based platform as a notable factor to improve risk strategy. Nearly half (47%) foresee additional credit stress and tightened lending criteria. Many risk leaders (42%) also indicated that the top risk priority is to improve the ability to identify financially vulnerable customers. Integrating data sources, leveraging AI and streamlining data-to-insight-to-action processes to enable lenders to achieve a holistic borrower view, improve customer relations and foster lending practices.
Combining datasets into a single cloud-based platform is key to enhancing analytical capability
Data and analytics leaders are prioritising a unified platform for siloed datasets to accelerate AI/ML model development and deployment. More than half (55%) of respondents believe current development times are too long, with 48% stating that they are updating their models more frequently due to shifting consumer behaviour.
"This year's research highlights the growing importance of AI and data analytics for businesses seeking a competitive edge," says Malin Holmberg, CEO, EMEA & APAC, Experian. "While we are still facing broader macroeconomic challenges, the majority of leaders remain optimistic about future growth and increased technology investment."
Download the full report here.
About Experian
Experian is a global data and technology company, powering opportunities for people and businesses around the world. Learn more at experianplc.com.
Contact: Yolanda Zondo, Yolanda.zondo@experian.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders
Enjoy FREE road tax for cars with engine capacities under 1600cc, plus the Cheapest Road Tax in Town for cars with engine capacities of 1600cc and above when renewing your car insurance with PolicyStreet this 10-11 October.
KUALA LUMPUR, Malaysia, Oct. 8, 2024 /PRNewswire/ -- Since the launch of PolicyStreet's Betul-Betul FREE Road Tax campaign in August, thousands of Malaysians have enjoyed complimentary road tax and notable discounts by renewing their car insurance through PolicyStreet's platform. Now, due to the overwhelming response, the Betul-Betul FREE Road Tax campaign is back and bigger than ever, expanding the initial offer from 500 to 5,000 Malaysians this October.
On 10-11 October, from 10 AM to 10 PM, Malaysians with cars under 1600cc engine capacity can enjoy FREE road tax when they renew their car insurance with PolicyStreet. Meanwhile, cars with engine capacities of 1600cc and above will still be eligible for generous discounts on their road tax, ensuring they enjoy the Cheapest Road Tax in Town.
With PolicyStreet's 0% Interest Easy Payment Plan, Malaysians can pay for their car insurance in manageable instalments instead of the traditional lump sum. Customers can choose from 3, 6, or 12-month payment plans when using a valid credit card from nine participating banks, namely Maybank, Public Bank, UOB Bank, OCBC Bank, RHB Bank, CIMB Bank, Affin Bank, Hong Leong Bank, and AmBank.
In line with its commitment to strengthening the financial resilience of Malaysians, PolicyStreet's 0% Interest Easy Payment Plan acts as an additional payment option that incurs no extra interest, ensuring that car insurance remains affordable and accessible for everyone.
"At PolicyStreet, our foundation has always been rooted in serving the underserved through innovative insurance solutions. We are excited to reaffirm our commitment to consumers by not only offering the Cheapest Road Tax in Town but also ensuring that car insurance is Purposeful and Simple for every Malaysian. This journey is not new for us; it's a return to our core mission, and we look forward to empowering individuals with the protection they deserve," says Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet.
Car insurance can be renewed up to two months before it expires, so put the pedal to the metal and take advantage of the Betul-Betul FREE Road Tax promotion now! Don't miss out on extra savings when renewing your car insurance—get your quote now at car.policystreet.com and skip the wait for a quotation on 10 October.
For the complete media kit with visual assets and spokespersons' photos, please click the link HERE.
About PolicyStreet
PolicyStreet is a regional full-stack insurance technology (insurtech) group of companies providing cutting-edge digital insurance solutions to businesses and consumers in Southeast Asia and Australia.
PolicyStreet works directly with over 40 life, general, and Takaful providers globally to offer a comprehensive range of products and services, which includes but is not limited to embedded insurance, customised employee benefits, financial advisory and aggregation of insurance, as well as the development of digital solutions to make insurance purposeful and simple for businesses and consumers.
As a licensed Reinsurer, General Insurer and Takaful Operator by the Labuan Financial Services Authority (LFSA), an approved Financial Adviser and Islamic Financial Adviser by Bank Negara Malaysia (BNM), and a licensee of the Australian Financial Services License by the Australian Securities and Investments Commission (ASIC), PolicyStreet is able to underwrite, customise policies, and provide unbiased advice to its clients and partners worldwide.
PolicyStreet is backed by the Malaysian sovereign wealth fund, Khazanah Nasional Berhad, and serves over 5 million customers with over US$ 10 billion in sum insured. In 2024, PolicyStreet was recognised as "Fintech of the Year" at The Asset's Triple A Digital Awards and ranked as the second-highest Malaysian company in the "High-Growth Companies in Asia Pacific 2024" list by Statista and The Financial Times.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
10 Times More FREE Road Tax: PolicyStreet's Betul-Betul FREE Road Tax Returns this 10 October!
