FinTech LIVE Singapore 2025: Future of Digital Banking Panel

At FinTech LIVE Singapore, the panel discussion on the future of digital banking brought together industry leaders to explore upcoming trends and challenges.

The session featured Emmanuel de Rességuier, CEO at Fennech, Aniruddha Gargya, Head of Digital Banking and AML Solutions, APAC at Fiserv and Marlon P. Sorongon, Chief Information Security Officer at Maybank.

The conversation begins with a look at the immediate future of digital banking. 

Emmanuel highlights the shift towards real-time banking, where customers expect 24/7 access to payments, investments and other financial services.

He points out that hyper-automation, AI and ML are catalysing this transformation, making banking faster and more responsive. Aniruddha echoes this view, adding that banks are increasingly adopting cloud-based infrastructure to scale their services while ensuring security. 

He also emphasises the growing focus on super apps and marketplace banking, where traditional banks collaborate with fintechs to offer a broader range of services under one digital umbrella.

Marlon provides a security perspective, stating that digital banking is evolving beyond convenience to become more intelligent and predictive. 

AI and ML are not only improving personalisation but also helping banks anticipate customer needs and detect fraud more effectively.

Emerging technologies shaping digital banking

AI remains the dominant force in digital banking innovation, but the panel explores other emerging technologies that are shaping the industry. 

Aniruddha notes that open banking is expanding distribution channels, allowing banks to integrate financial services into non-banking platforms seamlessly.
He also points to the rise of passwordless authentication, including face recognition, palm scanning and passkeys, as key developments in cybersecurity and frictionless user experience. 

These technologies aim to enhance security while improving accessibility for users.

Marlon emphasises the importance of a multi-layered security approach, incorporating biometrics, multi-factor authentication (MFA) and real-time fraud detection. 

He notes that while technology continues to evolve, customer awareness and education remain critical in preventing cyberattacks.

Emmanuel tales a broader view, arguing that while AI and ML are transformative, banks must first master data management and cloud computing. 

Without clean, well-structured data, AI applications may not deliver accurate insights or benefits. 
He also predicts that quantum computing could play a significant role in financial services in the coming years, enabling faster processing and more sophisticated risk management models.

Balancing digital transformation with customer trust

As banks embrace digital-first strategies, maintaining customer trust remains a challenge.

Marlon stresses that cybersecurity is the foundation of trust in digital banking. 

He outlines strategies such as end-to-end encryption, AI-driven fraud detection and zero-trust security models to protect customer data.

Emmanuel reinforces this point, stating that, at its core, banking is still about financial security and reliability. 
Customers want assurance that their money is safe and accessible when needed. 

He cautions that no amount of digital innovation can compensate for poor financial management or operational inefficiencies within banks.
Aniruddha adds that transparency is essential. Banks must not only implement security measures but also educate customers on fraud risks and best practices.

By keeping customers informed, banks can empower them to make safer financial decisions.

Challenges of digital transformation for traditional banks

The shift toward digital-first banking presents significant challenges for traditional financial institutions. Emmanuel identifies three key hurdles:
- Legacy IT infrastructure – Many banks operate on decades-old systems, making digital upgrades complex and expensive.
- Mindset and culture – Traditional banks are often risk-averse and slow to adopt new technologies.
- Inefficient processes – Digital services lose effectiveness if back-end processes remain outdated and paper-based.

Marlon echoes these concerns, highlighting that regulatory compliance is another major challenge. As banks transition to digital platforms, they must navigate evolving regulations while ensuring security and service reliability.

The role of partnerships in driving innovation

Collaboration between fintechs and traditional banks can improve financial innovation, but the panel had differing views on the effectiveness of these partnerships.

Aniruddha is optimistic, arguing that partnerships allow banks to expand their services, enhance agility and leverage fintech expertise. 

He cites examples of banks integrating fintech solutions to offer personalised products, real estate marketplaces and embedded financial services.

Marlon agrees, noting that open banking and fintech collaborations can help banks reach underserved markets and improve financial inclusion. By working together, banks and fintechs can create more efficient, customer-centric solutions.

However, Emmanuel expresses scepticism about the success of these partnerships. He points out that large banks often struggle to work with fintechs due to differences in decision-making speed, culture and risk appetite. 

While partnerships are beneficial in theory, many fail to deliver long-term value due to misalignment between the two parties.

Despite these challenges, all panellists agree that digital transformation is inevitable and financial institutions must find ways to innovate while maintaining trust, security and regulatory compliance.

Essential diary dates for 2025

Discover the essential diary dates for FinTech Magazine.

To follow FinTech LIVE on LinkedIn, click here.

To enter for the Global FinTech Awards, click here.

• FinTech LIVE Dubai | 6 May
• FinTech LIVE New York | 17 June
• FinTech LIVE London | 7-8 October
• The Global FinTech Awards | 7 October

Explore the latest edition of FinTech Magazine and be part of the conversation at our global conference series, FinTech LIVE. 

Discover all our upcoming events and secure your tickets today.

FinTech Magazine is a BizClik brand