Asia’s digital economy is growing at a remarkable pace. Recent research shows that, over the last year alone, the number of digital consumers in Southeast Asia rose by 50 per cent, bringing the total value of the region’s online economy to $50 billion. The report by Bain and Company estimates that as many as 230 million individuals in the region are now “online engaged customers”, and with 300 million already owning a smartphone, this customer base for e-commerce looks set to continue growing over the next year. This promise of further rapid expansion presents highly attractive growth opportunities to those who can play a role in meeting the needs of online customers in the region.
Confidence in digital identity verification is now, therefore, of paramount importance to all concerned. Online markets thrive on confidence; without a prevailing belief among users that their funds and data are secure, the full potential of this expanding market will simply not be realised. To assist in achieving that confidence, the GSMA is convening a two-day summit at the Suntec Exhibition Centre in Singapore next week on 21-22 November, where delegates will gather to discuss, amongst other key issues in the region’s identity market, the deployment of the mobile identity service Mobile Connect. We are pleased to announce a line-up of speakers from the highest levels across the ecosystem, in what will be the year’s most influential conference on mobile identity in Asia.
On Wednesday, Chief Innovation Officer at M1, Alex Tan will discuss Mobile Connect’s deployment in Singapore with Kwok Quek Sin, Director of the National Digital Identity Programme at GovTech Singapore. We will also hear contributions from Jiunn Rong Chiou, Deputy Minister at Taiwan’s National Development Council, and Cijay Tseng, Business Manager at Alliance Digital Technology Company, who will assess Mobile Connect’s potential as a tool in eGovernment. On Thursday, attention will be paid to opportunities in Indonesia, the world’s fourth-most populous state: Kiran Karunakaran from Delta Partners will give what will surely be a compelling presentation for those seeking to make good on that country’s extraordinarily lucrative possibilities. Mohsin Temerzy, Group Head for Product, Strategy and Innovation at TPS Pakistan, will later outline progress so far in the deployment of DigicheQ, the solution now being used in Pakistan in partnership between operators and the financial industry. These and many other key decision makers will give as complete a picture of the story so far in Asia, and the road ahead, as we will see this year.
Indications thus far point to Mobile Connect playing a formative role in assuring Asian customers of their security while online. Operators from across Asia confirmed earlier this year that they have chosen to back Mobile Connect as central to their aims in meeting the continent’s requirement for a secure and interoperable identity solution. By combining use of an item which anyone making online purchases has on their person by default – their mobile phone – and the natural interest operators have in ensuring their customers’ privacy, Mobile Connect is the logical option for straightforward and secure identity verification. Adoption has already yielded some impressive success stories: SKT’s launch of Mobile Connect iteration ‘T-Auth’, for example, already has more than 7 million users across South Korea, making it the most downloaded financial app on both Apple and Google in that country. Measurable commercial successes include reduction in customer attrition of 400% where online registration is required, and simplification of authorisation processes reducing wait times in online banking to one sixth of their previous length. The news thus far is excellent, but it remains early days; next week’s summit will doubtless bring further tales of progress to bear, as well as in-depth analysis of the challenges ahead. We hope that all those with an interest in Asia’s exploding potential for eCommerce will be able to attend.
Find out more and register for the Mobile Connect Summit Singapore