PETALING JAYA: To turn financial technology (fintech) into a competitive advantage, companies should go beyond digitalisation, that is, the implementation of digital technologies, and embrace digital transformation, that is, digitalisation and organisational changes, says Yen Teik Lee, assistant professor of finance at Asia School of Business & International Faculty Fellow at MIT.
“To digitalise processes and products, they can develop fintech capabilities in-house, acquire fintech players with complementary digital assets, or partner with fintech enablers such as platform-as-a-service and banking-as-a-service,” he said in an email to StarBiz.
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