Sunshine Farzan

☕️(CX)presso: A Shot of Customer Experience Insights In my third (CX)presso post I’m pleased to share the insights of Maggie Ng, Wealth and Personal Banking Head for HSBC Hong Kong. Maggie leads the charge in fostering a customer-first culture, and the results are impressive: HSBC has ranked #1 for Net Promoter Score (NPS) in the market for the past three years, consistently widening the gap with competitors. Read on to learn what Maggie believes is critical to their success. 👉 Strategy: How much focus is there on CX in your organization, and to what level? ❝Our commitment to Customer Experience (CX) is paramount. One of our strategic goals in WPB is to become the #1 Consumer Brand in HK for Customer Advocacy. We view Customer Advocacy as a foundational pillar of our business strategy. To achieve this, we embed CX metrics in every employee's scorecard, ensuring that we prioritize our customers in every decision we make.❞ 👉 Lessons: What CX insights have shaped your success? ❝HK’s award winning and well-structured CX Model has been a game changer in WPB.  It ensures we listen and take customer-centric actions with measurable outcomes. As a result, we are proud to have achieved a record-high sNPS consolidating our #1 rank in HK.  We have also championed the sNPS rank across our segments with both Affluent and Millennials sNPS turning positive for the first time. Customer journeys matter most—customers have zero tolerance for broken processes, such as lengthy and tedious steps to complete a simple transaction. They also expect a seamless experience across different banking products and services, rather than encountering them in silos. What we strive to offer is an end-to-end, hassle-free journey that is swift and easy. It’s crucial for us to genuinely listen to customer feedback, drawing from over 250 NPS survey responses and insights from complaints. We are committed to continuously elevating our CX across digital and personal channels, as well as our products. Ultimately, this collaborative effort across the business enhances our overall customer journeys. Accelerating Digitization and Innovation – Digitalization isn't just for Millennials; it spans the entire spectrum from mass markets to affluent and elite customers. As we develop new journeys from design to launch, we prioritize the needs of our most demanding clients. This focus allows us to create sleek, user-friendly experiences for everyone.❞   👉 Future: What role do you see CX playing in the future of your business? ❝CX remains essential for our business in HK as we strive to maintain our competitive edge. We can’t afford to be complacent. CX and a customer-centric approach are key differentiators for us. By actively engaging with customer feedback, we can make informed decisions that align with their needs, fostering trust and loyalty while staying ahead of the competition. Listening to our customers transforms insights into impactful actions, ultimately driving our success.❞#HSBC

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Macro Insights Weekly: Resilient #Singapore Singapore’s growth prospects are bright despite a plethora of internal constraints and external uncertainties. What explains the economic resiliency of the city state? First, despite high costs, Singapore attracts FDI due to world class hard and soft infrastructure. Second, investment-related policy foresight and stability signal commitment to investors. Third, a proactive agenda on health, housing, and education for the population enhance welfare. Fourth, incentives for the next generation of tech and idea help maintain competitiveness. Finally, large financial savings allow for successful and expeditious crisis prevention and mitigation. DBS Bank Wei Liang Chang Full report: https://lnkd.in/g9aNpx3F

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Banking products are a dime a dozen in Singapore. But there is a segment of consumers that experience more gaps than they need to when it comes to financial solutions. When we spoke to them, a common sentiment that they had was skepticism with banks in general. Why would banks help them at the expense of making money? To get there, we first need to fully understand these ground truths, insights that tell us where our customers are coming from, including the emotions that drive their motivations. Yesterday, we launched the GXS Progress Quotient, a survey that deep dives into the emotions that consumers have when making money decisions. It’s a first step but an important one to make sure we are able to design banking products that make sense for consumers. Thank you Stephanie Ong, Pei Ting Lian, Sujun Huang, Kevin Kwan, Ju Han L., Natasha Rahmat, Sherelynn Lin, Maybelline Tan, Winston Ng, Mindy Tan If you’re interested to find out more, insights from the survey can be found here: www.gxs.com.sg/gxspq2024. #GXSBank #BankingMadeBetter https://lnkd.in/gfaGe96h

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https://lnkd.in/gjiYqNFp Exciting news! CityUHK hosted the Award Ceremony for the HK Tech 300 Southeast Asia Start-up Competition on June 27th. Out of over 100 teams, 10 startups from Southeast Asia and Hong Kong were awarded the Angel Fund investments of up to HK$1 million each. We're thrilled to announce that all three of our Malaysian startups who have successfully secured the fund are Cradle’s grant recipients! They are: 🚀 QMed Asia – A recipient of Cradle’s CIP Ignite QMed Asia revolutionizes healthcare delivery with digital health solutions, enhancing the patient journey through an integrated AI-driven experience. 🚀 CoKeeps Sdn Bhd – A recipient of Cradle’s CIP Spark CoKeeps offers institutional-grade solutions for digital assets, bridging the crypto and regulated markets for clients like banks, corporations, and government agencies. 🚀 Apping Technology Sdn Bhd – A recipient of Cradle’s CIP Sprint Apping Technology revolutionises recruitment with its AI platform by uncovering hidden talent, predicting future skill needs, and retaining top performers. Other Asian countries participated include Thailand, Vietnam, Indonesia & Singapore. #CradleFund #CreatingLeadingStartups #CradleRecipients

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I recently had the opportunity to speak at the World Economic Forum event in Ho Chi Minh City, Vietnam at the launch the C4IR (Centre for the 4th Industrial Revolution). This event is a catalyst to accelerate Vietnam's transformation as one of the fastest growing economies in the world. Transformation has become an essential part of progress to accelerate changes, increase adoption of new technologies and create new ways of collaborating to achieve joint success. Sharing my experience of driving large scale transformation, we discussed: (1) The objective function is rightfully changing from pure economic growth to a more sustainable, green low carbon intensity growth for companies and economies and role Financial Institutions can play there. (2) The evolution of the transformation enablers from last decade's digital transformation to a data & AI led approach and its implications on the design and execution of large scale transformations. (3) The talent gap to meet the increasing demand of new and rapidly evolving skills in problem solving, data & AI literacy, new technologies that underpin next wave of industrial growth and the ability to connect the dots in new ways across traditional industrial sectors and knowledge domains. It was a privilege to share my experience and also the role we at Techcombank (TCB) can play to support and accelerate this agenda of rapid green growth in the development of Vietnam's economy in the coming years. Exciting times ahead!!

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In today's fast-paced business environment, meetings are the lifeblood of collaboration and decision-making. They are essential for aligning teams, setting goals, and steering companies towards success. But amidst the flurry of meetings, a crucial question persists: How many meetings are truly necessary to guide a company in the right direction? Research consistently shows that many meetings are unproductive, with one survey revealing a staggering 72% inefficiency rate. Executives now spend nearly 23 hours per week in meetings, a significant increase from past decades. Finding the right balance in meeting frequency is pivotal. Too many meetings can lead to wasted time and decision fatigue, while too few can cause miscommunication and lack of alignment. The key lies in thoughtful planning and execution. Effective meetings require a strategic approach. Start by clearly defining objectives, setting agendas, and communicating expectations in advance to keep discussions focused and fruitful. Encourage inclusive participation to foster engagement and diverse perspectives. Assign roles to promote accountability and drive actionable outcomes. Time management is critical. Respect participants' schedules by starting and ending on time, allocating specific time slots for each agenda item to prevent tangents. Embracing technology can further enhance meeting effectiveness. Use collaborative tools for shared documentation, virtual meetings for remote participants, and feedback mechanisms for continuous improvement. The advent of artificial intelligence offers exciting opportunities to streamline meetings. AI can automate scheduling, leveraging NLP to understand email conversations and schedule meetings seamlessly. AI-powered tools consider participants' availability and preferences, suggesting optimal meeting times to avoid conflicts. Some tools can transcribe meetings, generate notes, and analyze key action items automatically, saving time and improving efficiency. Well-executed meetings drive alignment, innovation, and teamwork. They fuel strategic planning, problem-solving, and shared vision among stakeholders. Quality surpasses quantity—each meeting should inspire action and propel the company towards its goals. By fostering effective communication and collaboration, organizations can leverage meetings to navigate challenges and drive prosperity. #Meetings #BusinessSuccess #Collaboration #AI #Efficiency #Productivity

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“𝘈𝘳𝘦 𝘺𝘰𝘶 𝘢 𝘮𝘢𝘴𝘰𝘤𝘩𝘪𝘴𝘵?” “𝘋𝘰 𝘺𝘰𝘶 𝘭𝘰𝘷𝘦 𝘣𝘰𝘰𝘬𝘴 𝘵𝘩𝘢𝘵 𝘮𝘶𝘤𝘩?” If you want to be a bookseller, than those are the questions you need to ask yourself - according to Kenny Chan, the ex-Senior Director of Kinokuniya Book Stores (Asia Pacific) - he spent ~20 years of his career there prior to his retirement! But prior to bookseller, Kenny was a foreign diplomat at the Ministry of Foreign Affairs Singapore, where he was posted to London as their Trade and Culture Attache. He then switched to bookselling, first at Popular Holdings Limited, then MPH Bookstores Sdn Bhd, and back again at Popular when they launched their IPO! Before interviewing for a position at Kinokuniya. The President & Chairman of Kinokuniya flew from Japan to conduct the interview and asked Kenny just one question: “𝘋𝘰 𝘺𝘰𝘶 𝘭𝘰𝘷𝘦 𝘣𝘰𝘰𝘬𝘴?” As it turns out, Kenny gave him the answer that he was looking for! Thus beginning his 20 year stint at Kinokuniya. Best of all, Kenny is the latest guest on the So This Is My Why Podcast! Where we dive deep into all things books, book selling & the art of evangelising. ❓Why does Kenny not judge people by their educational level? ❓Why did he initially become a foreign diplomat? ❓What was it like opening bookstores throughout Asia Pacific, Dubai and New York? ❓What was it like working at his dream company? ❓Why was Lee Kuan Yew a hard task master? ❓What is the secret to buying books & why is bookselling a spiritual experience? ❓The Kinovirus ❓The importance of building a strong brand ❓How aspiring authors can get Kenny’s attention Are you intrigued yet? Follow the links in the comment below to check out Kenny’s episode! The YouTube version is out now too. 😎 Special thanks to the team at HEPMIL Media Group for the awesome studio where this recording was held!

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**Lessons from "Culinary Class War": Insights for Entrepreneurs** Have you watched the captivating drama of *Culinary Class War* on Netflix? Cooking shows have a unique allure, immersing us in a world of flavors, competition, and creativity. Beyond the tantalizing dishes, there are valuable lessons for entrepreneurs and businesses. In both the culinary arena and the business world, one truth stands out: life is seldom fair. Navigating class distinctions and stringent requirements is a reality we must confront. While we can strive to outmaneuver obstacles, they remain constants in our journeys. A pivotal challenge in the show revolves around a restaurant setup, with success determined by sales figures. This highlights the importance of a robust business model supported by data-driven insights. Success isn’t just about skill; it’s about strategic decision-making informed by analytics and market trends. Central to triumph is cultivating the right mindset. The chefs exemplify unwavering dedication, often working grueling hours. The path to success requires resilience, perseverance, and a steadfast resolve to overcome challenges. Innovation is another cornerstone of success. Contestants face challenges that push them to create unique dishes from a limited set of ingredients, showcasing creativity and resourcefulness. Are you ready to turn limitations into opportunities? Finally, a genuine passion for your craft is essential. The chefs who thrive are driven by a deep love for their art, not just the pursuit of victory. Without this passion, the daily grind can quickly become a chore. As we enjoy the drama of *Culinary Class War*, let’s also embrace the insights it offers. Face challenges head-on, strengthen your resolve, foster innovation, and nurture your passion. In the kitchen of life, these principles are the essential ingredients for a recipe of success and fulfillment. #CulinaryClassWar #Entrepreneurship #BusinessInsights #Innovation #Passion #Resilience

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“You feel safe to make mistakes here… No one going to judge you instead we are here to support you…” 🥹I could never forget this statement from my mentor when I was terrified for my first public speaking speech.. He created a safe environment for his mentee to TRY!! Today I am excited and deeply humble to share i recently stepped into mentorship role. ☺️☺️Thanks Johnson Lam for connecting! FutureLab.my - an online mentorship platform that connects youth to industry professionals for career guidance. If you’re seeking advice & tips on how to move forward with your career, I’m here to help! As a FutureLab mentor, I am able to support you through: •Share industry insights on Wealth Management, Personal Finance, •also fundraising, business strategy, marketing tips, etc. If you’re interested in having a chat with me on how to navigate your career path, follow me or book a session with me on https://lnkd.in/ggNXuyzq If you’re ready to take that next step, let’s connect. Together, we can achieve great things. 🚀 FutureLab offers FREE MENTORSHIP CREDIT, allowing you to apply for a complimentary session with me through this link: https://lnkd.in/gkyjmUNf However, please keep in mind that this fantastic opportunity is limited to just 5 people. Visit www.FutureLab.my today! #Mentorship #FutureLab #LeadershipSkills #Communication #GrowthMindset #ProfessionalDevelopment #Inspiration #PassionDriven

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A great summary Adeline Kim and thank you to you, Tancy Tan and the MindForward Alliance for hosting an excellent opportunity to learn and share with ENRICO 'IRONMAN EV' VARELLA , Weng Hong Yong and Emily Ortega. Yesterdays session got me thinking about The “Manufactured Manager Paradox”: Prescribed Behaviors vs. Authentic Leadership The term “manufactured manager” conjures up an image of a leader who operates within a strict framework of prescribed behaviors, often dictated by organizational norms and societal expectations. A veteran leadership coach described it as the “Korporate Kowtow”. While I don’t agree with the vernacular, it captures the vigorous debate about the authenticity of leaders who conform to these molds at the expense of their genuine selves. A manufactured manager is typically seen as someone who has been shaped extensively by corporate training programs, leadership manuals, and a pervasive corporate culture that promotes a one-size-fits-all approach to leadership. Harvard Business Review suggests that these programs, while useful, tend to produce leaders who are adept at following protocols but may lack the spontaneity or personal touch that true leadership demands. It's crucial for organizations to recognize the value of authenticity in their leaders. Authentic leadership is associated with higher levels of trust, engagement, and loyalty among employees. This doesn’t mean throwing out all leadership training but rather tailoring it to enhance the natural styles of leaders rather than reshaping them entirely. Empathy, Vulnerability, psychological safety and authenticity go together. The paradox dictates however that these cannot be manufactured.

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The Truth : With increasing emphasis on achieving net zero from governments, investors, and consumers, sustainability has become essential for businesses. Hence SMEs must enhance their sustainability practices to stay competitive. The Challenges : ❌🕙 No time. ❌💰 No money. ❌👥 No headcount. ❌🤷🏻 No clue. The Solution : No problem..because UOB SAGE is here to help SMEs achieve their sustainability goals 🌿🧭 today, read more from the press article : - The Business Times https://lnkd.in/gnMHwAYP - The Asset https://lnkd.in/gBvMJBKq - The Edge https://lnkd.in/gA7SFahj - Fintech News https://lnkd.in/gVeeuR4z - Lianhe Zaobao https://lnkd.in/gQ8nh9iC #uob #sustainablefuturewithuob #OneBankforASEAN #sustainabledevelopment #sustainability #sustainablebusiness #esginvesting #esgstrategy

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Accelerating the Transition to a Net-Zero Future, Bringing Impact to Communities & Conducting Our Business Responsibly! Looking forward to this fireside chat with Mike Ng, Group Chief Sustainability Officer and Jeong Yoon Mee, Managing Director, Global Wholesale Banking Sustainability Office!

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Hong Kong has been crowned the top financial centre in the Asia-Pacific Region and third in the world. Hong Kong now is also among the top 10 #fintech hubs💪🏻 The Global Financial Centres Index: https://lnkd.in/gxppR8Xi #HK Invest Hong Kong FintechHK

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Singapore has reclaimed its crown as the world's most powerful passport, according to the latest Henley Passport Index. With visa-free access to 195 travel destinations, the city-state sets a new record score on the 19-year-old index, which is based on exclusive and official data from the International Air Transport Association (IATA). Despite shifts in the rankings, the general trend over the past two decades has been towards greater travel freedom, as highlighted in the July 2024 edition of the Henley Global Mobility Report. View the latest Henley Passport Index and read the full report here: https://lnkd.in/dZPyvP4N

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Good to see our Ministers taking proactive initiative to communicate how stable we are compared to many other countries: "Singapore gives top-level briefings to reassure foreign banks on stability". "Ministers overall sought to emphasise Singapore’s safety, reliability and trustworthiness amid geopolitical uncertainty.  “While Singapore regularly holds meetings with business groups, briefings by such senior ministers are not routine. The government [being] proactive, especially after the money laundering episode and the current global political and economic uncertainty,” one person familiar with the briefings said. “Singapore’s global stock as a financial hub is rising and the risks of being misunderstood and bad actors operating here have become greater.” The prime minister’s office said public officials have been engaging with various groups, including banks and finance institutions, for decades. “We engage on a variety of issues — not only on international developments but also economic and social issues . . . Participants appreciate the opportunity to engage with ministers and public officials,” Lee’s office said. A US bank executive said the meetings had been well received by local employees, though senior leadership were surprised that the prime minister’s office was contacting the business on geopolitical matters. The inclusion of ministers such as Teo, a former two-star rear-admiral who has been serving as co-ordinating minister for national security since 2015, “raised eyebrows”, they said. “The ministers attending are among the top in Singapore, it is not something you say no to but it was surprising,” the person said. “The overall message we got was they want to make clearer that Singapore is still the safest, most reliable financial hub in the region.” Good to see that our Ministers are not taking anything for granted and not resting on their laurels and are taking the initiative. What do you think? If you’re an entrepreneur and need support on your entrepreneurial journey to enable you to grow your business, our Ultimate LinkedIn Marketing and Personal Branding service can help you, details here : https://lnkd.in/dqWRi6EZ https://on.ft.com/4b1o8Kw

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It is absolutely rewarding to receive the Best Data Analytics Initiative award at the Global Retail Banking Innovation Awards from The Digital Banker. 2nd award in this category! Out of the busy schedule, both my team and myself wasn’t able to claim the award in person but we thank The Digital Banker and the judge panel for this recognition. Our solution combining data, machine learning / AI in a hyper-personalized way will transform how we interact with our customers. Ever growing ever innovating! #hangseng #dataanlytics #AI #machinelearning Leo Liu Kim Lay Robert Chung SHIRLEY WAN Anthony Ng

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“This process has started in Hong Kong, and some virtual banks will grow and strengthen their brand,” says Barbaros Uygun 胡博思of Mox Bank. “These winners will mature into sizeable franchises and become primary banks.” Ugyun is too polite to say it out loud, but he's obviously confident Mox will be such a winner. This profile is from a series of DigFin Group CEO interviews at virtual banks asking them how they intend to become primary banks, that is, the place where customers place the bulk of their deposits. So far the numbers are actually not that good, with deposits falling and deposit sizes plummeting among the eight licensed digital banks in Hong Kong. Mox is the successful outlier in terms of customer numbers but it will still need to translate that into the kind of step changes that boosted the likes of Revolut, Nubank or KakaoBank – in an era when capital has become expensive. Calvin Ng 费轶明 Michael Fei Tat Lee Alex Manson Trust Bank Singapore Priscilla Wat Edwin Hui, CFA Jayant Bhatia Eric Wan https://lnkd.in/gRZCRCmR

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I spoke to Singapore’s leading trade association and startup ecosystem ACE.SG (Action Community for Entrepreneurship) on what makes an exceptional Founder. The fund-raising market is extremely tough, and more than just credentials, this is what makes a bankable and investible Founder: Humility: Staying humble to recognise that while hard skills and industry experience are highly valuable, Founders don’t necessarily have all the answers, making one constantly curious and open to continuous improvement. Resilience: To assess resilience, we delve into a founder’s track record in handling past failures or setbacks. In interviews, we inquire about specific instances where the founder faced adversity and the strategies employed to overcome it. Foresight: Good foresight allows a founder to see opportunities where others may see obstacles. Leadership: Effective communication is key, as it allows us to evaluate how Founders articulate their vision, strategies, and obstacles, revealing transparency and clarity in their communication. Adaptability: We assess a founder's adaptability through scenario-based discussions and case studies, presenting potential situations that the startups can face and assess how a Founder reacts to it. Across my investing career, I had my fair share of mistakes. I believe picking Founders is very much an art rather than a science whereby a VC investor experience is even more crucial than technical skill. This experience comes only through surviving the ups and downs over decades. In addition, I believe we are in the business of picking great founders and have the responsibilities to work with these leaders to maximise a startup’s success. Thanks ACE.SG (Action Community for Entrepreneurship) for this interview and Robin M and Jaewoon Yoon for the work put into this! #Whatmakesanexceptionalfounder #Startups #Founders #Fundraise @ACE.SG (Action Community for Entrepreneurship) Patrick Lim @Velocity Ventures A. Patrick Imbardelli Nicholas Cocks Jonathon Cocks https://lnkd.in/g77RNF4Y

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