The Hong Kong consumer lending landscape has faced significant headwinds over the past several years, but despite challenges, tremendous opportunities remain. Lenders are seeking new ways to tap into market potential and spur growth while managing risk. At the same time, consumer expectations are increasing rapidly. Lenders will need to adapt to growing demands in responsiveness, choice and service to succeed. To help you better understand what’s to come, we’re launching the inaugural TransUnion Hong Kong Summit, an invitation-only working session for senior executives in the banking, finance and credit industries.
Our theme — Smarter Decisions: The Consumer First Era — speaks to the growing need to understand consumer preferences, choices and behaviours. With consumers more empowered than ever to pursue options that fit their needs, lenders must be agile in delivering relevant and timely products and services. At the Summit, we’ll provide deeper insights into the consumer first dynamic, sharing strategic concepts and practical approaches that can help lenders thrive in this challenging environment. You’ll engage in interesting discussions, network with your peers, and ultimately gain a clearer view of the road ahead.
Successful lending relies heavily on having an effective operating model for understanding
consumer behaviour and the overarching dynamics of the marketplace. Earlier this decade,
TransUnion introduced the concept of the Consumer Finance 3.0 era as our global operating
model, driven by regulatory concerns, channel diversification, the emergence of agile and
well-funded start-ups, and increasing consumer expectations.
That model served us well for a number of years in understanding and responding to the lending marketplace. However, the market continues to evolve, and we believe our model should as well. In this session, we’ll introduce our new operating model — the Consumer First Era — and explain what it means for lenders as the balance of power has shifted to the consumer.
Risk, product and portfolio managers alike are always on the quest for insights as to what in the marketplace drove their performance trends in a specific direction. Benchmarking against industry movements is a critical exercise every lender should perform to identify gaps and opportunities in strategy. However, getting a clear picture on overall industry trends is rarely easy or straightforward.
And it's even more challenging to draw a storyline from those trends, and then relate that story to business strategy. In this session, we’ll provide a general outlook and commentary on the Hong Kong economic situation, our perspective on key trends, and critical dynamics in the retail lending marketplace.
The Greater Bay Area will combine 11 cities and 12% of China’s GDP into a single cooperative region. With the biggest economy of the region but just one in 10 of its people, this initiative offers many upsides for Hong Kong lenders looking to expand their customer base. However, It also carries no shortage of threats from Mainland giants.
In the simplified view of the matter, Shenzhen would bring its startup expertise, Guangzhou its manufacturing expertise, the broader Pearl River Delta region its logistics and transport expertise, while Hong Kong would help to finance it all. In this session, we’ll test this theory and discuss how you, as Hong Kong lenders, can thrive in this new and uncertain operating environment.
ASEAN was Hong Kong's second largest trading partner in 2017, behind only Mainland China. Certainly, TransUnion has operations and partnerships across the region, as do many of your organisations. So in this session our panel of experts will expand the scope of the discussion on the Greater Bay Area to consider the ways in which Hong Kong lenders can look to thrive in a variety of ASEAN markets.
What can we learn about how borrowers behave and what they value in different market contexts? Which emerging ASEAN trends are unique to a specific market and which are shared across them? Which of those trends should we fear, and which should we embrace? And, amongst the diversity of ASEAN opportunities, which of Hong Kong’s unique strengths and characteristics are best-placed to enable regional expansion?
TransUnion manages over 50 petabytes of data globally, a data asset that has grown by 25% annually since 2010. But when we talk about big data, the discussion isn’t just centered on the sheer size of databases involved. An increasingly important part of the conversation is around the non-traditional techniques used to analyze them.
In this session, we’ll provide an overview of the latest data technologies and how they’re changing today’s analytical landscape, as well as thoughts on how they’ll change the landscape of tomorrow.
For hotel room booking, please send email to Shirley.Yuen@transunion.com for arrangement