{"version":"1.0.0","segments":[{"speaker":"Voice Over","startTime":0.0,"endTime":1.68,"body":"The AIBP ASEAN B2B"},{"speaker":"Voice Over","startTime":0.0,"endTime":1.68,"body":"growth podcast is a series of"},{"speaker":"Voice Over","startTime":1.68,"endTime":2.73,"body":"fireside chats with business"},{"speaker":"Voice Over","startTime":1.68,"endTime":2.73,"body":"leaders in Southeast Asia"},{"speaker":"Voice Over","startTime":2.73,"endTime":3.93,"body":"focused on growth in the region."},{"speaker":"Voice Over","startTime":2.73,"endTime":3.93,"body":"Topics discussed include"},{"speaker":"Voice Over","startTime":3.93,"endTime":5.28,"body":"business strategy, sales and"},{"speaker":"Voice Over","startTime":3.93,"endTime":5.28,"body":"marketing, enterprise technology"},{"speaker":"Voice Over","startTime":5.28,"endTime":5.61,"body":"and innovation."},{"speaker":"Irza - AIBP","startTime":5.61,"endTime":8.13,"body":"Hello, and welcome"},{"speaker":"Irza - AIBP","startTime":5.61,"endTime":8.13,"body":"to the AIBP ASEAN B2B growth"},{"speaker":"Irza - AIBP","startTime":8.13,"endTime":10.95,"body":"podcast where we sit down with"},{"speaker":"Irza - AIBP","startTime":8.13,"endTime":10.95,"body":"individuals responsible for"},{"speaker":"Irza - AIBP","startTime":10.95,"endTime":16.68,"body":"driving growth of their"},{"speaker":"Irza - AIBP","startTime":10.95,"endTime":16.68,"body":"businesses here in Southeast"},{"speaker":"Irza - AIBP","startTime":16.68,"endTime":20.07,"body":"Asia. My name is Irza, and today"},{"speaker":"Irza - AIBP","startTime":16.68,"endTime":20.07,"body":"I have a very interesting guest"},{"speaker":"Irza - AIBP","startTime":20.07,"endTime":25.47,"body":"with me. Kelvin actually heads"},{"speaker":"Irza - AIBP","startTime":20.07,"endTime":25.47,"body":"SC nexus, he will talk about it"},{"speaker":"Irza - AIBP","startTime":25.5,"endTime":29.13,"body":"a little bit himself. SC nexus"},{"speaker":"Irza - AIBP","startTime":25.5,"endTime":29.13,"body":"is a part of Standard Chartered"},{"speaker":"Irza - AIBP","startTime":29.13,"endTime":32.58,"body":"Bank. And in the past few"},{"speaker":"Irza - AIBP","startTime":29.13,"endTime":32.58,"body":"episodes, we've talked about how"},{"speaker":"Irza - AIBP","startTime":32.58,"endTime":35.49,"body":"financial services companies"},{"speaker":"Irza - AIBP","startTime":32.58,"endTime":35.49,"body":"within Southeast Asia have"},{"speaker":"Irza - AIBP","startTime":35.82,"endTime":39.87,"body":"developed and grown and evolved"},{"speaker":"Irza - AIBP","startTime":35.82,"endTime":39.87,"body":"over the last 5, 10 years, with"},{"speaker":"Irza - AIBP","startTime":39.87,"endTime":43.62,"body":"the digital banking environment"},{"speaker":"Irza - AIBP","startTime":39.87,"endTime":43.62,"body":"hotting up quite a bit in this"},{"speaker":"Irza - AIBP","startTime":43.62,"endTime":47.28,"body":"part of the world. I will leave"},{"speaker":"Irza - AIBP","startTime":43.62,"endTime":47.28,"body":"Kelvin to briefly introduce"},{"speaker":"Irza - AIBP","startTime":47.28,"endTime":51.81,"body":"himself. So Kelvin, please tell"},{"speaker":"Irza - AIBP","startTime":47.28,"endTime":51.81,"body":"our listeners about yourself"},{"speaker":"Irza - AIBP","startTime":51.99,"endTime":54.18,"body":"before you get into SC nexus."},{"speaker":"Kelvin - SC nexus","startTime":55.08,"endTime":57.06,"body":"Hi Irza."},{"speaker":"Kelvin - SC nexus","startTime":55.08,"endTime":57.06,"body":"Thank you for inviting me onto"},{"speaker":"Kelvin - SC nexus","startTime":57.06,"endTime":61.65,"body":"this. Pleasure to be here. Well,"},{"speaker":"Kelvin - SC nexus","startTime":57.06,"endTime":61.65,"body":"what can I say about myself?"},{"speaker":"Kelvin - SC nexus","startTime":61.68,"endTime":66.48,"body":"It's been a really fun ride from"},{"speaker":"Kelvin - SC nexus","startTime":61.68,"endTime":66.48,"body":"a career standpoint, so far. My"},{"speaker":"Kelvin - SC nexus","startTime":66.57,"endTime":71.16,"body":"underlying mandate or mantra for"},{"speaker":"Kelvin - SC nexus","startTime":66.57,"endTime":71.16,"body":"career movements is really: what"},{"speaker":"Kelvin - SC nexus","startTime":71.16,"endTime":73.44,"body":"is the most interesting problem,"},{"speaker":"Kelvin - SC nexus","startTime":71.16,"endTime":73.44,"body":"and what is the most difficult"},{"speaker":"Kelvin - SC nexus","startTime":73.44,"endTime":76.86,"body":"to achieve. Let's try it. Right."},{"speaker":"Kelvin - SC nexus","startTime":73.44,"endTime":76.86,"body":"So if you look at it, I've been"},{"speaker":"Kelvin - SC nexus","startTime":76.89,"endTime":79.74,"body":"Standard Chartered 10 years but"},{"speaker":"Kelvin - SC nexus","startTime":76.89,"endTime":79.74,"body":"other than nexus, which has"},{"speaker":"Kelvin - SC nexus","startTime":79.74,"endTime":82.59,"body":"lasted the whole four years now,"},{"speaker":"Kelvin - SC nexus","startTime":79.74,"endTime":82.59,"body":"give or take, almost five,"},{"speaker":"Kelvin - SC nexus","startTime":82.62,"endTime":85.62,"body":"coming to the end of this year."},{"speaker":"Kelvin - SC nexus","startTime":82.62,"endTime":85.62,"body":"Before that I was with"},{"speaker":"Kelvin - SC nexus","startTime":85.62,"endTime":89.52,"body":"Transaction Banking, I did"},{"speaker":"Kelvin - SC nexus","startTime":85.62,"endTime":89.52,"body":"payments for a while: did the"},{"speaker":"Kelvin - SC nexus","startTime":89.52,"endTime":93.48,"body":"Samsung pay, Apple Pay launches"},{"speaker":"Kelvin - SC nexus","startTime":89.52,"endTime":93.48,"body":"across multiple markets, and"},{"speaker":"Kelvin - SC nexus","startTime":93.48,"endTime":98.07,"body":"then I was in retail products"},{"speaker":"Kelvin - SC nexus","startTime":93.48,"endTime":98.07,"body":"globally for a bit. Even before"},{"speaker":"Kelvin - SC nexus","startTime":98.07,"endTime":100.5,"body":"Standard Chartered I was in all"},{"speaker":"Kelvin - SC nexus","startTime":98.07,"endTime":100.5,"body":"over the place. I was in"},{"speaker":"Kelvin - SC nexus","startTime":100.53,"endTime":103.77,"body":"transaction banking, before that"},{"speaker":"Kelvin - SC nexus","startTime":100.53,"endTime":103.77,"body":"consulting, before the consumer"},{"speaker":"Kelvin - SC nexus","startTime":104.58,"endTime":108.75,"body":"FMCG, data analytics, and all"},{"speaker":"Kelvin - SC nexus","startTime":104.58,"endTime":108.75,"body":"the way to consumer finance at"},{"speaker":"Kelvin - SC nexus","startTime":108.75,"endTime":112.08,"body":"the very beginning of my career"},{"speaker":"Kelvin - SC nexus","startTime":108.75,"endTime":112.08,"body":"with OCBC in Indonesia."},{"speaker":"Kelvin - SC nexus","startTime":112.5,"endTime":116.49,"body":"So effectively, all I've done"},{"speaker":"Kelvin - SC nexus","startTime":112.5,"endTime":116.49,"body":"is: okay, this thing looks"},{"speaker":"Kelvin - SC nexus","startTime":116.49,"endTime":120.9,"body":"difficult. It's not been tried"},{"speaker":"Kelvin - SC nexus","startTime":116.49,"endTime":120.9,"body":"before. I am totally unqualified"},{"speaker":"Kelvin - SC nexus","startTime":120.9,"endTime":124.11,"body":"to do this, and let's give it a"},{"speaker":"Kelvin - SC nexus","startTime":120.9,"endTime":124.11,"body":"shot. Effectively."},{"speaker":"Irza - AIBP","startTime":124.33,"endTime":125.83,"body":"That's usually a"},{"speaker":"Irza - AIBP","startTime":124.33,"endTime":125.83,"body":"good sign. When somebody says"},{"speaker":"Irza - AIBP","startTime":125.83,"endTime":127.9,"body":"they're unqualified to do"},{"speaker":"Irza - AIBP","startTime":125.83,"endTime":127.9,"body":"something and they pursue it,"},{"speaker":"Irza - AIBP","startTime":127.93,"endTime":133.6,"body":"it's usually better than being a"},{"speaker":"Irza - AIBP","startTime":127.93,"endTime":133.6,"body":"so called \"expert\". Right. Talk"},{"speaker":"Irza - AIBP","startTime":133.63,"endTime":136.57,"body":"to us a little bit about SC"},{"speaker":"Irza - AIBP","startTime":133.63,"endTime":136.57,"body":"nexus because I understand"},{"speaker":"Irza - AIBP","startTime":136.57,"endTime":139.63,"body":"that's the team, or the business"},{"speaker":"Irza - AIBP","startTime":136.57,"endTime":139.63,"body":"division that you are running,"},{"speaker":"Irza - AIBP","startTime":139.66,"endTime":142.33,"body":"and how it sits within Standard"},{"speaker":"Irza - AIBP","startTime":139.66,"endTime":142.33,"body":"Chartered as a bank."},{"speaker":"Kelvin - SC nexus","startTime":143.56,"endTime":146.62,"body":"Okay, so"},{"speaker":"Kelvin - SC nexus","startTime":143.56,"endTime":146.62,"body":"Standard Chartered nexus, sits"},{"speaker":"Kelvin - SC nexus","startTime":146.62,"endTime":150.64,"body":"within the Retail and SME bank"},{"speaker":"Kelvin - SC nexus","startTime":146.62,"endTime":150.64,"body":"as a business line. So what"},{"speaker":"Kelvin - SC nexus","startTime":150.64,"endTime":155.62,"body":"happened was four years ago, the"},{"speaker":"Kelvin - SC nexus","startTime":150.64,"endTime":155.62,"body":"exam question I was really"},{"speaker":"Kelvin - SC nexus","startTime":155.62,"endTime":158.29,"body":"trying to answer is how does"},{"speaker":"Kelvin - SC nexus","startTime":155.62,"endTime":158.29,"body":"Standard Chartered scale its"},{"speaker":"Kelvin - SC nexus","startTime":158.44,"endTime":160.69,"body":"retail and SME business without"},{"speaker":"Kelvin - SC nexus","startTime":158.44,"endTime":160.69,"body":"actually incurring the"},{"speaker":"Kelvin - SC nexus","startTime":160.69,"endTime":163.72,"body":"traditional costs of scaling. I"},{"speaker":"Kelvin - SC nexus","startTime":160.69,"endTime":163.72,"body":"mean, traditionally, for any"},{"speaker":"Kelvin - SC nexus","startTime":163.72,"endTime":166.66,"body":"retail SME bank, you would, you"},{"speaker":"Kelvin - SC nexus","startTime":163.72,"endTime":166.66,"body":"know, set up branches, have"},{"speaker":"Kelvin - SC nexus","startTime":166.66,"endTime":170.05,"body":"physical infrastructure, get"},{"speaker":"Kelvin - SC nexus","startTime":166.66,"endTime":170.05,"body":"sales, scale staff, go out,"},{"speaker":"Kelvin - SC nexus","startTime":170.08,"endTime":176.98,"body":"acquire customers. But I mean, I"},{"speaker":"Kelvin - SC nexus","startTime":170.08,"endTime":176.98,"body":"guess in 2017, 2018, the world"},{"speaker":"Kelvin - SC nexus","startTime":176.98,"endTime":179.14,"body":"has changed, right, the"},{"speaker":"Kelvin - SC nexus","startTime":176.98,"endTime":179.14,"body":"emergence of the Super App"},{"speaker":"Kelvin - SC nexus","startTime":179.17,"endTime":183.25,"body":"ecosystems, the increasing"},{"speaker":"Kelvin - SC nexus","startTime":179.17,"endTime":183.25,"body":"demand of users, consumers and"},{"speaker":"Kelvin - SC nexus","startTime":183.25,"endTime":187.15,"body":"SMEs, to have banking at their"},{"speaker":"Kelvin - SC nexus","startTime":183.25,"endTime":187.15,"body":"fingertips. And also obviously,"},{"speaker":"Kelvin - SC nexus","startTime":187.15,"endTime":192.28,"body":"DBS started the whole \"Live"},{"speaker":"Kelvin - SC nexus","startTime":187.15,"endTime":192.28,"body":"more, Bank less\" campaign got me"},{"speaker":"Kelvin - SC nexus","startTime":192.28,"endTime":195.4,"body":"thinking right, why wouldn't"},{"speaker":"Kelvin - SC nexus","startTime":192.28,"endTime":195.4,"body":"Standard Chartered, a global"},{"speaker":"Kelvin - SC nexus","startTime":195.4,"endTime":199.6,"body":"bank, with about 40 licenses"},{"speaker":"Kelvin - SC nexus","startTime":195.4,"endTime":199.6,"body":"around the world, create the"},{"speaker":"Kelvin - SC nexus","startTime":199.6,"endTime":203.56,"body":"skilled technical capability to"},{"speaker":"Kelvin - SC nexus","startTime":199.6,"endTime":203.56,"body":"white-label itself and offer via"},{"speaker":"Kelvin - SC nexus","startTime":203.59,"endTime":206.53,"body":"either API's or integrated app"},{"speaker":"Kelvin - SC nexus","startTime":203.59,"endTime":206.53,"body":"or STK or whatever number of"},{"speaker":"Kelvin - SC nexus","startTime":206.53,"endTime":209.89,"body":"options that are out there, to"},{"speaker":"Kelvin - SC nexus","startTime":206.53,"endTime":209.89,"body":"anyone who wants to become a"},{"speaker":"Kelvin - SC nexus","startTime":209.89,"endTime":213.19,"body":"bank, but doesn't want to go"},{"speaker":"Kelvin - SC nexus","startTime":209.89,"endTime":213.19,"body":"through the pain of becoming a"},{"speaker":"Kelvin - SC nexus","startTime":213.19,"endTime":216.88,"body":"bank. Because, as most people"},{"speaker":"Kelvin - SC nexus","startTime":213.19,"endTime":216.88,"body":"know, and with the licenses that"},{"speaker":"Kelvin - SC nexus","startTime":216.88,"endTime":220.6,"body":"have been granted recently in"},{"speaker":"Kelvin - SC nexus","startTime":216.88,"endTime":220.6,"body":"Singapore and Malaysia, in order"},{"speaker":"Kelvin - SC nexus","startTime":220.6,"endTime":223.81,"body":"to actually become a proper"},{"speaker":"Kelvin - SC nexus","startTime":220.6,"endTime":223.81,"body":"bank, it is a long, painful,"},{"speaker":"Kelvin - SC nexus","startTime":223.81,"endTime":226.75,"body":"arduous process. You have to"},{"speaker":"Kelvin - SC nexus","startTime":223.81,"endTime":226.75,"body":"apply for license, it takes you"},{"speaker":"Kelvin - SC nexus","startTime":226.81,"endTime":229.72,"body":"a year, two years, the bill and"},{"speaker":"Kelvin - SC nexus","startTime":226.81,"endTime":229.72,"body":"the deployment takes you a year,"},{"speaker":"Kelvin - SC nexus","startTime":229.72,"endTime":233.2,"body":"two years. And that's just the"},{"speaker":"Kelvin - SC nexus","startTime":229.72,"endTime":233.2,"body":"basic cost of maybe up to $100"},{"speaker":"Kelvin - SC nexus","startTime":233.23,"endTime":235.75,"body":"to $200 million dollars,"},{"speaker":"Kelvin - SC nexus","startTime":233.23,"endTime":235.75,"body":"depending on how you look at it."},{"speaker":"Kelvin - SC nexus","startTime":236.41,"endTime":239.53,"body":"And that doesn't include the"},{"speaker":"Kelvin - SC nexus","startTime":236.41,"endTime":239.53,"body":"regulatory capital you need to"},{"speaker":"Kelvin - SC nexus","startTime":239.53,"endTime":243.25,"body":"satisfy then now there is a path"},{"speaker":"Kelvin - SC nexus","startTime":239.53,"endTime":243.25,"body":"to profitability. It is a"},{"speaker":"Kelvin - SC nexus","startTime":243.25,"endTime":247.51,"body":"challenge to build a digital"},{"speaker":"Kelvin - SC nexus","startTime":243.25,"endTime":247.51,"body":"bank. And I think most people"},{"speaker":"Kelvin - SC nexus","startTime":247.51,"endTime":251.59,"body":"underestimate that challenge. So"},{"speaker":"Kelvin - SC nexus","startTime":247.51,"endTime":251.59,"body":"my view is, why would you want"},{"speaker":"Kelvin - SC nexus","startTime":251.59,"endTime":255.07,"body":"to do all that, if you were a"},{"speaker":"Kelvin - SC nexus","startTime":251.59,"endTime":255.07,"body":"large digital ecosystem? Why"},{"speaker":"Kelvin - SC nexus","startTime":255.07,"endTime":257.68,"body":"wouldn't you work with a bank"},{"speaker":"Kelvin - SC nexus","startTime":255.07,"endTime":257.68,"body":"with a technical expertise, and"},{"speaker":"Kelvin - SC nexus","startTime":257.68,"endTime":260.98,"body":"the back end, and the historical"},{"speaker":"Kelvin - SC nexus","startTime":257.68,"endTime":260.98,"body":"experience in dealing with"},{"speaker":"Kelvin - SC nexus","startTime":260.98,"endTime":264.16,"body":"regulators and balance sheet"},{"speaker":"Kelvin - SC nexus","startTime":260.98,"endTime":264.16,"body":"management, to say: \"Hey, you"},{"speaker":"Kelvin - SC nexus","startTime":264.16,"endTime":267.19,"body":"know what, I will just plug into"},{"speaker":"Kelvin - SC nexus","startTime":264.16,"endTime":267.19,"body":"you, use your license, use your"},{"speaker":"Kelvin - SC nexus","startTime":267.19,"endTime":270.04,"body":"balance sheet, make it invisible"},{"speaker":"Kelvin - SC nexus","startTime":267.19,"endTime":270.04,"body":"on the front end to my users\","},{"speaker":"Kelvin - SC nexus","startTime":270.04,"endTime":274.24,"body":"create significant use cases for"},{"speaker":"Kelvin - SC nexus","startTime":270.04,"endTime":274.24,"body":"stickier ecosystem, people use"},{"speaker":"Kelvin - SC nexus","startTime":274.24,"endTime":277.51,"body":"it more often visit, do more"},{"speaker":"Kelvin - SC nexus","startTime":274.24,"endTime":277.51,"body":"transactions on it, get more"},{"speaker":"Kelvin - SC nexus","startTime":277.51,"endTime":283.0,"body":"data, create seamless"},{"speaker":"Kelvin - SC nexus","startTime":277.51,"endTime":283.0,"body":"experiences, much like you know,"},{"speaker":"Kelvin - SC nexus","startTime":284.02,"endTime":289.12,"body":"grab, for example, where you can"},{"speaker":"Kelvin - SC nexus","startTime":284.02,"endTime":289.12,"body":"leave the grab ride without"},{"speaker":"Kelvin - SC nexus","startTime":289.12,"endTime":290.95,"body":"actually having to initiate a"},{"speaker":"Kelvin - SC nexus","startTime":289.12,"endTime":290.95,"body":"payment because it's"},{"speaker":"Kelvin - SC nexus","startTime":291.01,"endTime":295.27,"body":"automatically deducted off your"},{"speaker":"Kelvin - SC nexus","startTime":291.01,"endTime":295.27,"body":"card. So all of that in a"},{"speaker":"Kelvin - SC nexus","startTime":295.27,"endTime":300.7,"body":"nutshell, to create scale."},{"speaker":"Kelvin - SC nexus","startTime":295.27,"endTime":300.7,"body":"Right? It compensates what the"},{"speaker":"Kelvin - SC nexus","startTime":300.7,"endTime":303.16,"body":"bank is historically poor at. In"},{"speaker":"Kelvin - SC nexus","startTime":300.7,"endTime":303.16,"body":"fact, all banks are pretty much"},{"speaker":"Kelvin - SC nexus","startTime":303.16,"endTime":306.22,"body":"historically poor at, which is"},{"speaker":"Kelvin - SC nexus","startTime":303.16,"endTime":306.22,"body":"profitable customer acquisition,"},{"speaker":"Kelvin - SC nexus","startTime":306.22,"endTime":310.06,"body":"and maintenance and servicing,"},{"speaker":"Kelvin - SC nexus","startTime":306.22,"endTime":310.06,"body":"while leveraging what the banks"},{"speaker":"Kelvin - SC nexus","startTime":310.06,"endTime":313.27,"body":"are traditionally good at, which"},{"speaker":"Kelvin - SC nexus","startTime":310.06,"endTime":313.27,"body":"is risk management, balance"},{"speaker":"Kelvin - SC nexus","startTime":313.27,"endTime":316.54,"body":"sheet management and regulatory"},{"speaker":"Kelvin - SC nexus","startTime":313.27,"endTime":316.54,"body":"engagement. So that in a"},{"speaker":"Kelvin - SC nexus","startTime":316.54,"endTime":320.92,"body":"nutshell is what we've done with"},{"speaker":"Kelvin - SC nexus","startTime":316.54,"endTime":320.92,"body":"Standard Chartered nexus and"},{"speaker":"Kelvin - SC nexus","startTime":320.95,"endTime":324.25,"body":"it's a four year journey, the"},{"speaker":"Kelvin - SC nexus","startTime":320.95,"endTime":324.25,"body":"platform is ready. It's in"},{"speaker":"Kelvin - SC nexus","startTime":324.25,"endTime":326.65,"body":"production. In Indonesia, we"},{"speaker":"Kelvin - SC nexus","startTime":324.25,"endTime":326.65,"body":"have two partners that we've"},{"speaker":"Kelvin - SC nexus","startTime":326.65,"endTime":330.52,"body":"announced in Indonesia,"},{"speaker":"Kelvin - SC nexus","startTime":326.65,"endTime":330.52,"body":"Bukalapak and Sociolla. We are"},{"speaker":"Kelvin - SC nexus","startTime":330.52,"endTime":332.95,"body":"awaiting final regulatory"},{"speaker":"Kelvin - SC nexus","startTime":330.52,"endTime":332.95,"body":"approvals to open it up to the"},{"speaker":"Kelvin - SC nexus","startTime":332.95,"endTime":336.73,"body":"public. And I guess in the"},{"speaker":"Kelvin - SC nexus","startTime":332.95,"endTime":336.73,"body":"coming months, you'll hear a lot"},{"speaker":"Kelvin - SC nexus","startTime":336.73,"endTime":339.4,"body":"more not just from Indonesia,"},{"speaker":"Kelvin - SC nexus","startTime":336.73,"endTime":339.4,"body":"but from other markets as well."},{"speaker":"Irza - AIBP","startTime":340.23,"endTime":342.15,"body":"That's very"},{"speaker":"Irza - AIBP","startTime":340.23,"endTime":342.15,"body":"interesting, because I think"},{"speaker":"Irza - AIBP","startTime":342.51,"endTime":345.24,"body":"Indonesia was one of the first"},{"speaker":"Irza - AIBP","startTime":342.51,"endTime":345.24,"body":"markets you looked at. And"},{"speaker":"Irza - AIBP","startTime":345.24,"endTime":350.04,"body":"traditionally, when you look at"},{"speaker":"Irza - AIBP","startTime":345.24,"endTime":350.04,"body":"the Southeast Asian market, I"},{"speaker":"Irza - AIBP","startTime":350.04,"endTime":351.87,"body":"mean, you've seen quite a few"},{"speaker":"Irza - AIBP","startTime":350.04,"endTime":351.87,"body":"developments within the Digital"},{"speaker":"Irza - AIBP","startTime":351.87,"endTime":354.18,"body":"Banking space. You have TONIK"},{"speaker":"Irza - AIBP","startTime":351.87,"endTime":354.18,"body":"Bank in the Philippines, you"},{"speaker":"Irza - AIBP","startTime":354.18,"endTime":357.42,"body":"have TNEX in Vietnam, the UOB's"},{"speaker":"Irza - AIBP","startTime":354.18,"endTime":357.42,"body":"and DBS's of the world, UOB TMRW"},{"speaker":"Irza - AIBP","startTime":357.42,"endTime":359.91,"body":"I think they first launched in"},{"speaker":"Irza - AIBP","startTime":357.42,"endTime":359.91,"body":"Indonesia and Thailand."},{"speaker":"Irza - AIBP","startTime":361.02,"endTime":364.2,"body":"Obviously, those are pure"},{"speaker":"Irza - AIBP","startTime":361.02,"endTime":364.2,"body":"digital banks. Your offering is"},{"speaker":"Irza - AIBP","startTime":364.2,"endTime":367.08,"body":"a little bit service, you call"},{"speaker":"Irza - AIBP","startTime":364.2,"endTime":367.08,"body":"it banking-as-a-service, right?"},{"speaker":"Irza - AIBP","startTime":367.11,"endTime":373.23,"body":"And walk me through for SC"},{"speaker":"Irza - AIBP","startTime":367.11,"endTime":373.23,"body":"nexus, who are your main target"},{"speaker":"Irza - AIBP","startTime":373.23,"endTime":377.55,"body":"customers, who will be using the"},{"speaker":"Irza - AIBP","startTime":373.23,"endTime":377.55,"body":"platform? You're not targeting"},{"speaker":"Irza - AIBP","startTime":377.55,"endTime":378.72,"body":"consumers directly are you?"},{"speaker":"Kelvin - SC nexus","startTime":378.0,"endTime":380.482,"body":"No, so nexus"},{"speaker":"Kelvin - SC nexus","startTime":378.0,"endTime":380.482,"body":"is not a B2C business. It's a"},{"speaker":"Kelvin - SC nexus","startTime":380.541,"endTime":383.91,"body":"B2B2C business, or B2B2SME"},{"speaker":"Kelvin - SC nexus","startTime":380.541,"endTime":383.91,"body":"business. Effectively, we have"},{"speaker":"Kelvin - SC nexus","startTime":383.969,"endTime":387.338,"body":"two customers. The first one is"},{"speaker":"Kelvin - SC nexus","startTime":383.969,"endTime":387.338,"body":"our partner, we call them"},{"speaker":"Kelvin - SC nexus","startTime":387.397,"endTime":390.943,"body":"partners, such as E-commerce"},{"speaker":"Kelvin - SC nexus","startTime":387.397,"endTime":390.943,"body":"platform, basically any digital"},{"speaker":"Kelvin - SC nexus","startTime":391.002,"endTime":394.134,"body":"platform, with have a"},{"speaker":"Kelvin - SC nexus","startTime":391.002,"endTime":394.134,"body":"significant user base, both SME"},{"speaker":"Kelvin - SC nexus","startTime":394.194,"endTime":397.385,"body":"and consumers, who want to"},{"speaker":"Kelvin - SC nexus","startTime":394.194,"endTime":397.385,"body":"become a financial services"},{"speaker":"Kelvin - SC nexus","startTime":397.444,"endTime":400.872,"body":"provider without the pain of"},{"speaker":"Kelvin - SC nexus","startTime":397.444,"endTime":400.872,"body":"becoming a financial services"},{"speaker":"Kelvin - SC nexus","startTime":400.931,"endTime":404.773,"body":"provider. So those are our first"},{"speaker":"Kelvin - SC nexus","startTime":400.931,"endTime":404.773,"body":"level partners that we target to"},{"speaker":"Kelvin - SC nexus","startTime":404.832,"endTime":408.083,"body":"integrate with. So Sociolla and"},{"speaker":"Kelvin - SC nexus","startTime":404.832,"endTime":408.083,"body":"Bukalapak are very good"},{"speaker":"Kelvin - SC nexus","startTime":408.142,"endTime":411.806,"body":"examples. We have a few more in"},{"speaker":"Kelvin - SC nexus","startTime":408.142,"endTime":411.806,"body":"the pipeline in Indonesia. And"},{"speaker":"Kelvin - SC nexus","startTime":411.865,"endTime":415.293,"body":"in fact, we have no lack of"},{"speaker":"Kelvin - SC nexus","startTime":411.865,"endTime":415.293,"body":"interested partners across the"},{"speaker":"Kelvin - SC nexus","startTime":415.352,"endTime":418.839,"body":"region, not just Southeast Asia,"},{"speaker":"Kelvin - SC nexus","startTime":415.352,"endTime":418.839,"body":"but across the network for"},{"speaker":"Kelvin - SC nexus","startTime":418.898,"endTime":422.622,"body":"Standard Chartered Bank. But we"},{"speaker":"Kelvin - SC nexus","startTime":418.898,"endTime":422.622,"body":"also have a second tier whereby"},{"speaker":"Kelvin - SC nexus","startTime":422.681,"endTime":426.286,"body":"the end consumers will also need"},{"speaker":"Kelvin - SC nexus","startTime":422.681,"endTime":426.286,"body":"to be catered to. We need to"},{"speaker":"Kelvin - SC nexus","startTime":426.345,"endTime":429.419,"body":"create products, in"},{"speaker":"Kelvin - SC nexus","startTime":426.345,"endTime":429.419,"body":"collaboration with the partners,"},{"speaker":"Kelvin - SC nexus","startTime":426.9,"endTime":544.02,"body":"That's two minutes thirty"},{"speaker":"Kelvin - SC nexus","startTime":426.9,"endTime":544.02,"body":"seconds. So you're talking about"},{"speaker":"Kelvin - SC nexus","startTime":429.478,"endTime":432.965,"body":"that feeds the partners value"},{"speaker":"Kelvin - SC nexus","startTime":429.478,"endTime":432.965,"body":"proposition to the consumers,"},{"speaker":"Kelvin - SC nexus","startTime":433.024,"endTime":436.747,"body":"but also create economic value"},{"speaker":"Kelvin - SC nexus","startTime":433.024,"endTime":436.747,"body":"not just for the partners in the"},{"speaker":"Kelvin - SC nexus","startTime":436.807,"endTime":440.057,"body":"bank, but also for the"},{"speaker":"Kelvin - SC nexus","startTime":436.807,"endTime":440.057,"body":"consumers. The reason we call it"},{"speaker":"Kelvin - SC nexus","startTime":440.116,"endTime":443.544,"body":"nexus actually, and this is a"},{"speaker":"Kelvin - SC nexus","startTime":440.116,"endTime":443.544,"body":"funny story, is that it is a"},{"speaker":"Kelvin - SC nexus","startTime":443.603,"endTime":446.972,"body":"confluence of interests that are"},{"speaker":"Kelvin - SC nexus","startTime":443.603,"endTime":446.972,"body":"being served both from a"},{"speaker":"Kelvin - SC nexus","startTime":447.031,"endTime":450.755,"body":"partner, the bank, the consumer"},{"speaker":"Kelvin - SC nexus","startTime":447.031,"endTime":450.755,"body":"and the regulatory perspective,"},{"speaker":"Kelvin - SC nexus","startTime":450.814,"endTime":454.36,"body":"because the regulators won't"},{"speaker":"Kelvin - SC nexus","startTime":450.814,"endTime":454.36,"body":"have to create a new regulatory"},{"speaker":"Kelvin - SC nexus","startTime":454.419,"endTime":457.67,"body":"framework to manage this"},{"speaker":"Kelvin - SC nexus","startTime":454.419,"endTime":457.67,"body":"business, given that the banks"},{"speaker":"Kelvin - SC nexus","startTime":457.729,"endTime":461.334,"body":"at the end of the day are the"},{"speaker":"Kelvin - SC nexus","startTime":457.729,"endTime":461.334,"body":"lender of record, balance sheet"},{"speaker":"Kelvin - SC nexus","startTime":461.393,"endTime":464.112,"body":"of record and, and the"},{"speaker":"Kelvin - SC nexus","startTime":461.393,"endTime":464.112,"body":"standardised regulatory"},{"speaker":"Kelvin - SC nexus","startTime":464.171,"endTime":467.599,"body":"requirements have all been"},{"speaker":"Kelvin - SC nexus","startTime":464.171,"endTime":467.599,"body":"adhered to on the backend. From"},{"speaker":"Kelvin - SC nexus","startTime":467.658,"endTime":470.909,"body":"the consumers, and the SME"},{"speaker":"Kelvin - SC nexus","startTime":467.658,"endTime":470.909,"body":"standpoint, the data sharing"},{"speaker":"Kelvin - SC nexus","startTime":470.968,"endTime":474.691,"body":"between the partner and the bank"},{"speaker":"Kelvin - SC nexus","startTime":470.968,"endTime":474.691,"body":"creates significant use cases,"},{"speaker":"Kelvin - SC nexus","startTime":474.75,"endTime":477.587,"body":"both for onboarding,"},{"speaker":"Kelvin - SC nexus","startTime":474.75,"endTime":477.587,"body":"underwriting and servicing."},{"speaker":"Kelvin - SC nexus","startTime":477.646,"endTime":481.252,"body":"Imagine, for example, if Irza,"},{"speaker":"Kelvin - SC nexus","startTime":477.646,"endTime":481.252,"body":"hypothetically speaking, had a"},{"speaker":"Kelvin - SC nexus","startTime":481.311,"endTime":484.857,"body":"Netflix bank account, right?"},{"speaker":"Kelvin - SC nexus","startTime":481.311,"endTime":484.857,"body":"Where you open the bank account"},{"speaker":"Kelvin - SC nexus","startTime":484.916,"endTime":488.58,"body":"powered by Standard Chartered"},{"speaker":"Kelvin - SC nexus","startTime":484.916,"endTime":488.58,"body":"Bank, and I know everything that"},{"speaker":"Kelvin - SC nexus","startTime":488.639,"endTime":491.831,"body":"has ever done on Netflix, may"},{"speaker":"Kelvin - SC nexus","startTime":488.639,"endTime":491.831,"body":"not be a good thing. But"},{"speaker":"Kelvin - SC nexus","startTime":491.89,"endTime":495.377,"body":"everything that has ever done on"},{"speaker":"Kelvin - SC nexus","startTime":491.89,"endTime":495.377,"body":"Netflix, including what it"},{"speaker":"Kelvin - SC nexus","startTime":495.436,"endTime":498.923,"body":"purchases if any right? Would"},{"speaker":"Kelvin - SC nexus","startTime":495.436,"endTime":498.923,"body":"that change the way I onboard"},{"speaker":"Kelvin - SC nexus","startTime":498.982,"endTime":502.765,"body":"you? Have you already been KYC,"},{"speaker":"Kelvin - SC nexus","startTime":498.982,"endTime":502.765,"body":"to some extent, depending on the"},{"speaker":"Kelvin - SC nexus","startTime":502.824,"endTime":506.429,"body":"platform? So you can you can"},{"speaker":"Kelvin - SC nexus","startTime":502.824,"endTime":506.429,"body":"significantly alter the customer"},{"speaker":"Kelvin - SC nexus","startTime":506.488,"endTime":510.271,"body":"journey, and when we open it up"},{"speaker":"Kelvin - SC nexus","startTime":506.488,"endTime":510.271,"body":"to the public in Indonesia, with"},{"speaker":"Kelvin - SC nexus","startTime":510.33,"endTime":513.994,"body":"Bukalapak, hopefully very soon,"},{"speaker":"Kelvin - SC nexus","startTime":510.33,"endTime":513.994,"body":"you will see that we will also"},{"speaker":"Kelvin - SC nexus","startTime":514.053,"endTime":516.831,"body":"be the first in the market to"},{"speaker":"Kelvin - SC nexus","startTime":514.053,"endTime":516.831,"body":"have a completely"},{"speaker":"Kelvin - SC nexus","startTime":516.89,"endTime":520.318,"body":"non-face-to-face process. No"},{"speaker":"Kelvin - SC nexus","startTime":516.89,"endTime":520.318,"body":"WhatsApp callback, no contact"},{"speaker":"Kelvin - SC nexus","startTime":520.377,"endTime":523.865,"body":"center calling you to verify"},{"speaker":"Kelvin - SC nexus","startTime":520.377,"endTime":523.865,"body":"your identity four hours after"},{"speaker":"Kelvin - SC nexus","startTime":523.924,"endTime":527.115,"body":"you've already filled in the"},{"speaker":"Kelvin - SC nexus","startTime":523.924,"endTime":527.115,"body":"form. Our average account"},{"speaker":"Kelvin - SC nexus","startTime":527.174,"endTime":530.839,"body":"opening time is at this point"},{"speaker":"Kelvin - SC nexus","startTime":527.174,"endTime":530.839,"body":"about three minutes. Our best is"},{"speaker":"Kelvin - SC nexus","startTime":530.898,"endTime":534.68,"body":"two minutes, thirty seconds. But"},{"speaker":"Kelvin - SC nexus","startTime":530.898,"endTime":534.68,"body":"that's a one off. I'm hoping to"},{"speaker":"Kelvin - SC nexus","startTime":534.739,"endTime":538.404,"body":"bring it down from three minutes"},{"speaker":"Kelvin - SC nexus","startTime":534.739,"endTime":538.404,"body":"to the average of two minutes"},{"speaker":"Kelvin - SC nexus","startTime":538.463,"endTime":540.0,"body":"thirty seconds. Hopefully."},{"speaker":"Kelvin - SC nexus","startTime":544.05,"endTime":547.2,"body":"processing once all forms had"},{"speaker":"Kelvin - SC nexus","startTime":544.05,"endTime":547.2,"body":"been submitted on your part, or"},{"speaker":"Kelvin - SC nexus","startTime":547.2,"endTime":549.57,"body":"on nexus part, correct? Or on"},{"speaker":"Kelvin - SC nexus","startTime":547.2,"endTime":549.57,"body":"Bukalapak's part?"},{"speaker":"Kelvin - SC nexus","startTime":549.6,"endTime":554.43,"body":"No, no, two minutes thrity"},{"speaker":"Kelvin - SC nexus","startTime":549.6,"endTime":554.43,"body":"seconds from when I click on"},{"speaker":"Kelvin - SC nexus","startTime":554.43,"endTime":558.03,"body":"open account, to account opened."},{"speaker":"Irza - AIBP","startTime":558.33,"endTime":560.76,"body":"Wow. Okay, that I"},{"speaker":"Irza - AIBP","startTime":558.33,"endTime":560.76,"body":"think solves a lot of problem,"},{"speaker":"Irza - AIBP","startTime":560.76,"endTime":563.13,"body":"right? Because when we talk"},{"speaker":"Irza - AIBP","startTime":560.76,"endTime":563.13,"body":"about financial services or"},{"speaker":"Irza - AIBP","startTime":563.16,"endTime":565.68,"body":"digital financial services,"},{"speaker":"Irza - AIBP","startTime":563.16,"endTime":565.68,"body":"especially here within Southeast"},{"speaker":"Irza - AIBP","startTime":565.68,"endTime":568.77,"body":"Asia, you're looking at a very"},{"speaker":"Irza - AIBP","startTime":565.68,"endTime":568.77,"body":"large population of unbanked"},{"speaker":"Irza - AIBP","startTime":568.77,"endTime":572.85,"body":"people. But let's take the"},{"speaker":"Irza - AIBP","startTime":568.77,"endTime":572.85,"body":"conversation back with regards"},{"speaker":"Irza - AIBP","startTime":572.85,"endTime":575.82,"body":"to your partners you mentioned"},{"speaker":"Irza - AIBP","startTime":572.85,"endTime":575.82,"body":"Bukalapak and Sociolla right?"},{"speaker":"Irza - AIBP","startTime":576.57,"endTime":581.73,"body":"What's the thought process"},{"speaker":"Irza - AIBP","startTime":576.57,"endTime":581.73,"body":"behind a company like Bukalapak"},{"speaker":"Irza - AIBP","startTime":581.73,"endTime":585.87,"body":"or any other companies who are"},{"speaker":"Irza - AIBP","startTime":581.73,"endTime":585.87,"body":"looking to have additional"},{"speaker":"Irza - AIBP","startTime":585.87,"endTime":588.48,"body":"banking arm, because for"},{"speaker":"Irza - AIBP","startTime":585.87,"endTime":588.48,"body":"example, you've seen Grab do a"},{"speaker":"Irza - AIBP","startTime":588.48,"endTime":590.19,"body":"lot of different things at this"},{"speaker":"Irza - AIBP","startTime":588.48,"endTime":590.19,"body":"part of the world: they've"},{"speaker":"Irza - AIBP","startTime":590.22,"endTime":593.1,"body":"applied for digital banking"},{"speaker":"Irza - AIBP","startTime":590.22,"endTime":593.1,"body":"licenses, they've took stakes in"},{"speaker":"Irza - AIBP","startTime":594.72,"endTime":598.68,"body":"this bank in Indonesia, what was"},{"speaker":"Irza - AIBP","startTime":594.72,"endTime":598.68,"body":"it Grab or Gojek. So there's"},{"speaker":"Irza - AIBP","startTime":598.68,"endTime":602.13,"body":"many different paths to actually"},{"speaker":"Irza - AIBP","startTime":598.68,"endTime":602.13,"body":"be a financial services"},{"speaker":"Irza - AIBP","startTime":602.16,"endTime":606.21,"body":"provider. What's the difference"},{"speaker":"Irza - AIBP","startTime":602.16,"endTime":606.21,"body":"between what you provide as a"},{"speaker":"Irza - AIBP","startTime":606.21,"endTime":608.64,"body":"banking-as-a-service platform"},{"speaker":"Irza - AIBP","startTime":606.21,"endTime":608.64,"body":"versus applying for a digital"},{"speaker":"Irza - AIBP","startTime":608.64,"endTime":610.95,"body":"license? I know you mentioned"},{"speaker":"Irza - AIBP","startTime":608.64,"endTime":610.95,"body":"RegCap. I know you mentioned,"},{"speaker":"Irza - AIBP","startTime":612.36,"endTime":616.53,"body":"all the KYCs, plus the costs,"},{"speaker":"Irza - AIBP","startTime":612.36,"endTime":616.53,"body":"the profitability problems, but"},{"speaker":"Irza - AIBP","startTime":616.53,"endTime":621.99,"body":"in terms of timeline, can they"},{"speaker":"Irza - AIBP","startTime":616.53,"endTime":621.99,"body":"shorten it by significant"},{"speaker":"Irza - AIBP","startTime":621.99,"endTime":624.36,"body":"amount, what's the difference"},{"speaker":"Irza - AIBP","startTime":621.99,"endTime":624.36,"body":"between going with nexus as a"},{"speaker":"Irza - AIBP","startTime":624.36,"endTime":626.91,"body":"platform versus applying for a"},{"speaker":"Irza - AIBP","startTime":624.36,"endTime":626.91,"body":"digital banking license?"},{"speaker":"Kelvin - SC nexus","startTime":626.0,"endTime":628.512,"body":"If you're"},{"speaker":"Kelvin - SC nexus","startTime":626.0,"endTime":628.512,"body":"looking at purely timelines, the"},{"speaker":"Kelvin - SC nexus","startTime":628.572,"endTime":631.921,"body":"Singapore digital banking"},{"speaker":"Kelvin - SC nexus","startTime":628.572,"endTime":631.921,"body":"license was issued when - late"},{"speaker":"Kelvin - SC nexus","startTime":631.981,"endTime":635.63,"body":"the year before, end 2020, early"},{"speaker":"Kelvin - SC nexus","startTime":631.981,"endTime":635.63,"body":"2021? It's been a year and a"},{"speaker":"Kelvin - SC nexus","startTime":635.69,"endTime":639.099,"body":"half, right? It's not up and"},{"speaker":"Kelvin - SC nexus","startTime":635.69,"endTime":639.099,"body":"running. Nothing has been in"},{"speaker":"Kelvin - SC nexus","startTime":639.159,"endTime":642.808,"body":"beta, I think some things are"},{"speaker":"Kelvin - SC nexus","startTime":639.159,"endTime":642.808,"body":"probably in beta, nothing is in"},{"speaker":"Kelvin - SC nexus","startTime":642.868,"endTime":646.636,"body":"public. Yeah, the timelines for"},{"speaker":"Kelvin - SC nexus","startTime":642.868,"endTime":646.636,"body":"my deployment in the country is"},{"speaker":"Kelvin - SC nexus","startTime":646.696,"endTime":650.046,"body":"nine to 12 months, from the"},{"speaker":"Kelvin - SC nexus","startTime":646.696,"endTime":650.046,"body":"signing of a contract to the"},{"speaker":"Kelvin - SC nexus","startTime":650.106,"endTime":653.814,"body":"platform moving into production"},{"speaker":"Kelvin - SC nexus","startTime":650.106,"endTime":653.814,"body":"with at least one partner. The"},{"speaker":"Kelvin - SC nexus","startTime":653.874,"endTime":657.344,"body":"second partner, obviously will"},{"speaker":"Kelvin - SC nexus","startTime":653.874,"endTime":657.344,"body":"be faster, because once the"},{"speaker":"Kelvin - SC nexus","startTime":657.403,"endTime":661.172,"body":"platform is in production in the"},{"speaker":"Kelvin - SC nexus","startTime":657.403,"endTime":661.172,"body":"country. The second partner is"},{"speaker":"Kelvin - SC nexus","startTime":661.232,"endTime":664.641,"body":"actually I think the timeline"},{"speaker":"Kelvin - SC nexus","startTime":661.232,"endTime":664.641,"body":"will probably be about half"},{"speaker":"Kelvin - SC nexus","startTime":664.701,"endTime":668.17,"body":"that, and we are seeing that"},{"speaker":"Kelvin - SC nexus","startTime":664.701,"endTime":668.17,"body":"coming through anyway, in our"},{"speaker":"Kelvin - SC nexus","startTime":668.23,"endTime":671.939,"body":"experience in Indonesia. So from"},{"speaker":"Kelvin - SC nexus","startTime":668.23,"endTime":671.939,"body":"a timeline perspective, it is"},{"speaker":"Kelvin - SC nexus","startTime":671.999,"endTime":675.588,"body":"faster. Obviously, you give up"},{"speaker":"Kelvin - SC nexus","startTime":671.999,"endTime":675.588,"body":"some things. You have to work"},{"speaker":"Kelvin - SC nexus","startTime":675.648,"endTime":679.237,"body":"together with the bank in terms"},{"speaker":"Kelvin - SC nexus","startTime":675.648,"endTime":679.237,"body":"of creating the product. But"},{"speaker":"Kelvin - SC nexus","startTime":679.296,"endTime":682.885,"body":"then you also gain some things."},{"speaker":"Kelvin - SC nexus","startTime":679.296,"endTime":682.885,"body":"You are not under regulatory"},{"speaker":"Kelvin - SC nexus","startTime":682.945,"endTime":686.474,"body":"scrutiny, you don't have to do"},{"speaker":"Kelvin - SC nexus","startTime":682.945,"endTime":686.474,"body":"the RegCap and all the stuff"},{"speaker":"Kelvin - SC nexus","startTime":686.534,"endTime":690.363,"body":"that we talked about earlier. So"},{"speaker":"Kelvin - SC nexus","startTime":686.534,"endTime":690.363,"body":"there are benefits to that. And"},{"speaker":"Kelvin - SC nexus","startTime":690.422,"endTime":694.31,"body":"at the end benefit, which is why"},{"speaker":"Kelvin - SC nexus","startTime":690.422,"endTime":694.31,"body":"people want to move in financial"},{"speaker":"Kelvin - SC nexus","startTime":694.37,"endTime":697.959,"body":"services in the first place, is"},{"speaker":"Kelvin - SC nexus","startTime":694.37,"endTime":697.959,"body":"to create those stickier use"},{"speaker":"Kelvin - SC nexus","startTime":698.019,"endTime":701.788,"body":"cases for their core business."},{"speaker":"Kelvin - SC nexus","startTime":698.019,"endTime":701.788,"body":"And also to ensure that you have"},{"speaker":"Kelvin - SC nexus","startTime":701.847,"endTime":704.42,"body":"access to a lot more data about"},{"speaker":"Kelvin - SC nexus","startTime":701.847,"endTime":704.42,"body":"your users."},{"speaker":"Irza - AIBP","startTime":706.13,"endTime":708.38,"body":"So again, you"},{"speaker":"Irza - AIBP","startTime":706.13,"endTime":708.38,"body":"mentioned your two partners, you"},{"speaker":"Irza - AIBP","startTime":708.38,"endTime":711.08,"body":"mentioned the pipeline that you"},{"speaker":"Irza - AIBP","startTime":708.38,"endTime":711.08,"body":"have. And you mentioned that,"},{"speaker":"Irza - AIBP","startTime":711.35,"endTime":716.78,"body":"because this is a B2B2C"},{"speaker":"Irza - AIBP","startTime":711.35,"endTime":716.78,"body":"platform, the people or your"},{"speaker":"Irza - AIBP","startTime":716.81,"endTime":719.12,"body":"prospective customers are"},{"speaker":"Irza - AIBP","startTime":716.81,"endTime":719.12,"body":"essentially businesses and"},{"speaker":"Irza - AIBP","startTime":719.12,"endTime":721.64,"body":"looking at your two partners"},{"speaker":"Irza - AIBP","startTime":719.12,"endTime":721.64,"body":"that you have onboarded out of"},{"speaker":"Irza - AIBP","startTime":721.67,"endTime":725.09,"body":"Indonesia, these are digital"},{"speaker":"Irza - AIBP","startTime":721.67,"endTime":725.09,"body":"native companies. Is that an"},{"speaker":"Irza - AIBP","startTime":725.09,"endTime":728.42,"body":"area of focus for nexus and if I"},{"speaker":"Irza - AIBP","startTime":725.09,"endTime":728.42,"body":"may ask, what are the"},{"speaker":"Irza - AIBP","startTime":728.96,"endTime":731.0,"body":"geographies, the different"},{"speaker":"Irza - AIBP","startTime":728.96,"endTime":731.0,"body":"countries, you are looking at"},{"speaker":"Irza - AIBP","startTime":731.03,"endTime":731.6,"body":"currently?"},{"speaker":"Kelvin - SC nexus","startTime":733.04,"endTime":735.44,"body":"So we have a"},{"speaker":"Kelvin - SC nexus","startTime":733.04,"endTime":735.44,"body":"few pieces of key criteria for"},{"speaker":"Kelvin - SC nexus","startTime":735.44,"endTime":738.38,"body":"both the partners and the"},{"speaker":"Kelvin - SC nexus","startTime":735.44,"endTime":738.38,"body":"countries. By and large, for the"},{"speaker":"Kelvin - SC nexus","startTime":738.38,"endTime":741.29,"body":"country, we need to have"},{"speaker":"Kelvin - SC nexus","startTime":738.38,"endTime":741.29,"body":"countries who have a regulatory"},{"speaker":"Kelvin - SC nexus","startTime":741.29,"endTime":744.5,"body":"environment that's conducive to"},{"speaker":"Kelvin - SC nexus","startTime":741.29,"endTime":744.5,"body":"digital banking, we need to"},{"speaker":"Kelvin - SC nexus","startTime":744.5,"endTime":750.23,"body":"have, hopefully, a strong Bureau"},{"speaker":"Kelvin - SC nexus","startTime":744.5,"endTime":750.23,"body":"and a digital ID system in the"},{"speaker":"Kelvin - SC nexus","startTime":750.23,"endTime":753.08,"body":"country. So that will facilitate"},{"speaker":"Kelvin - SC nexus","startTime":750.23,"endTime":753.08,"body":"for significant ease of"},{"speaker":"Kelvin - SC nexus","startTime":753.11,"endTime":756.62,"body":"onboarding and processing. From"},{"speaker":"Kelvin - SC nexus","startTime":753.11,"endTime":756.62,"body":"that perspective, there are"},{"speaker":"Kelvin - SC nexus","startTime":756.62,"endTime":759.71,"body":"quite a few markets in Asia, not"},{"speaker":"Kelvin - SC nexus","startTime":756.62,"endTime":759.71,"body":"just Southeast Asia that ticks"},{"speaker":"Kelvin - SC nexus","startTime":759.71,"endTime":763.34,"body":"those boxes. Obviously,"},{"speaker":"Kelvin - SC nexus","startTime":759.71,"endTime":763.34,"body":"Indonesia is one with Dukcapil"},{"speaker":"Kelvin - SC nexus","startTime":763.34,"endTime":767.0,"body":"and so on, which is why we are"},{"speaker":"Kelvin - SC nexus","startTime":763.34,"endTime":767.0,"body":"there. And for sure, market size"},{"speaker":"Kelvin - SC nexus","startTime":767.0,"endTime":771.62,"body":"for Indonesia is huge. Malaysia"},{"speaker":"Kelvin - SC nexus","startTime":767.0,"endTime":771.62,"body":"is one obviously, Vietnam is"},{"speaker":"Kelvin - SC nexus","startTime":771.62,"endTime":775.01,"body":"coming on soon, the Philippines"},{"speaker":"Kelvin - SC nexus","startTime":771.62,"endTime":775.01,"body":"with its digital ID ambitions, I"},{"speaker":"Kelvin - SC nexus","startTime":775.01,"endTime":780.23,"body":"think this year or last year,"},{"speaker":"Kelvin - SC nexus","startTime":775.01,"endTime":780.23,"body":"Thailand, so those markets are"},{"speaker":"Kelvin - SC nexus","startTime":780.29,"endTime":782.57,"body":"of interest, and I talked about"},{"speaker":"Kelvin - SC nexus","startTime":780.29,"endTime":782.57,"body":"them earlier with regards to"},{"speaker":"Kelvin - SC nexus","startTime":782.57,"endTime":785.18,"body":"them also being in the pipeline."},{"speaker":"Kelvin - SC nexus","startTime":782.57,"endTime":785.18,"body":"Around the world, obviously,"},{"speaker":"Kelvin - SC nexus","startTime":785.18,"endTime":787.85,"body":"India is of significant"},{"speaker":"Kelvin - SC nexus","startTime":785.18,"endTime":787.85,"body":"interest, even though I think"},{"speaker":"Kelvin - SC nexus","startTime":787.85,"endTime":793.91,"body":"from a competitive standpoint"},{"speaker":"Kelvin - SC nexus","startTime":787.85,"endTime":793.91,"body":"it's going to be a challenge."},{"speaker":"Kelvin - SC nexus","startTime":793.94,"endTime":796.85,"body":"But with Aadhaar and all of"},{"speaker":"Kelvin - SC nexus","startTime":793.94,"endTime":796.85,"body":"those systems in place should be"},{"speaker":"Kelvin - SC nexus","startTime":796.85,"endTime":800.18,"body":"relatively easy from a technical"},{"speaker":"Kelvin - SC nexus","startTime":796.85,"endTime":800.18,"body":"standpoint. So from partners"},{"speaker":"Kelvin - SC nexus","startTime":800.18,"endTime":803.75,"body":"angle, yes, digital native"},{"speaker":"Kelvin - SC nexus","startTime":800.18,"endTime":803.75,"body":"companies are great. We usually"},{"speaker":"Kelvin - SC nexus","startTime":803.75,"endTime":807.56,"body":"require an anchor partner in the"},{"speaker":"Kelvin - SC nexus","startTime":803.75,"endTime":807.56,"body":"country, with a large enough"},{"speaker":"Kelvin - SC nexus","startTime":807.56,"endTime":810.68,"body":"user base, for us to justify the"},{"speaker":"Kelvin - SC nexus","startTime":807.56,"endTime":810.68,"body":"investment in deploying the"},{"speaker":"Kelvin - SC nexus","startTime":810.68,"endTime":814.88,"body":"stack into the country. And then"},{"speaker":"Kelvin - SC nexus","startTime":810.68,"endTime":814.88,"body":"the secondary partners or"},{"speaker":"Kelvin - SC nexus","startTime":814.88,"endTime":819.14,"body":"second, third, fourth, fifth"},{"speaker":"Kelvin - SC nexus","startTime":814.88,"endTime":819.14,"body":"partners are basically additions"},{"speaker":"Kelvin - SC nexus","startTime":819.14,"endTime":822.17,"body":"right, on top of the base"},{"speaker":"Kelvin - SC nexus","startTime":819.14,"endTime":822.17,"body":"business case. So for"},{"speaker":"Kelvin - SC nexus","startTime":822.17,"endTime":825.98,"body":"Indonesia's case, Bukalapak was"},{"speaker":"Kelvin - SC nexus","startTime":822.17,"endTime":825.98,"body":"first, Sociolla is second. Both"},{"speaker":"Kelvin - SC nexus","startTime":825.98,"endTime":829.07,"body":"are very good partners with us,"},{"speaker":"Kelvin - SC nexus","startTime":825.98,"endTime":829.07,"body":"and we work very closely with"},{"speaker":"Kelvin - SC nexus","startTime":829.07,"endTime":832.1,"body":"them. And in the other markets,"},{"speaker":"Kelvin - SC nexus","startTime":829.07,"endTime":832.1,"body":"we will pursue the same strategy"},{"speaker":"Kelvin - SC nexus","startTime":832.1,"endTime":835.1,"body":"because then that's how you"},{"speaker":"Kelvin - SC nexus","startTime":832.1,"endTime":835.1,"body":"actually create that ecosystem"},{"speaker":"Kelvin - SC nexus","startTime":835.1,"endTime":836.84,"body":"across multiple countries."},{"speaker":"Irza - AIBP","startTime":837.41,"endTime":839.87,"body":"You see, the last"},{"speaker":"Irza - AIBP","startTime":837.41,"endTime":839.87,"body":"two minutes, three minutes that"},{"speaker":"Irza - AIBP","startTime":839.87,"endTime":842.21,"body":"you've been talking, Kelvin, you"},{"speaker":"Irza - AIBP","startTime":839.87,"endTime":842.21,"body":"haven't been talking like a"},{"speaker":"Irza - AIBP","startTime":842.21,"endTime":845.21,"body":"traditional consumer banker,"},{"speaker":"Irza - AIBP","startTime":842.21,"endTime":845.21,"body":"right? You're talking about"},{"speaker":"Irza - AIBP","startTime":845.21,"endTime":849.89,"body":"scaling a business, and I'd like"},{"speaker":"Irza - AIBP","startTime":845.21,"endTime":849.89,"body":"to go back to how SC nexus sits"},{"speaker":"Irza - AIBP","startTime":849.89,"endTime":852.92,"body":"within Standard Chartered again,"},{"speaker":"Irza - AIBP","startTime":849.89,"endTime":852.92,"body":"you know, because when you"},{"speaker":"Irza - AIBP","startTime":852.92,"endTime":857.0,"body":"started on this project, you"},{"speaker":"Irza - AIBP","startTime":852.92,"endTime":857.0,"body":"were working within what the"},{"speaker":"Irza - AIBP","startTime":857.0,"endTime":860.69,"body":"consumer division at Standard"},{"speaker":"Irza - AIBP","startTime":857.0,"endTime":860.69,"body":"Chartered, digital payments, was"},{"speaker":"Irza - AIBP","startTime":860.69,"endTime":860.87,"body":"it?"},{"speaker":"Kelvin - SC nexus","startTime":862.13,"endTime":864.65,"body":"Yep. So when"},{"speaker":"Kelvin - SC nexus","startTime":862.13,"endTime":864.65,"body":"I came up with this idea, I was"},{"speaker":"Kelvin - SC nexus","startTime":864.65,"endTime":867.65,"body":"working on something in"},{"speaker":"Kelvin - SC nexus","startTime":864.65,"endTime":867.65,"body":"Singapore called \"My Way\". It's"},{"speaker":"Kelvin - SC nexus","startTime":867.65,"endTime":872.66,"body":"the digital savings proposition"},{"speaker":"Kelvin - SC nexus","startTime":867.65,"endTime":872.66,"body":"for people over 55 in Singapore."},{"speaker":"Kelvin - SC nexus","startTime":874.01,"endTime":877.76,"body":"So I was working on that with"},{"speaker":"Kelvin - SC nexus","startTime":874.01,"endTime":877.76,"body":"obviously, the person who is now"},{"speaker":"Kelvin - SC nexus","startTime":877.76,"endTime":882.47,"body":"the CEO of the retail bank"},{"speaker":"Kelvin - SC nexus","startTime":877.76,"endTime":882.47,"body":"globally, Judy, and Pei Si, who"},{"speaker":"Kelvin - SC nexus","startTime":882.47,"endTime":887.0,"body":"is now the Grab Malaysia CEO"},{"speaker":"Kelvin - SC nexus","startTime":882.47,"endTime":887.0,"body":"designate. And we were doing"},{"speaker":"Kelvin - SC nexus","startTime":887.0,"endTime":889.52,"body":"that, I was doing that. And I"},{"speaker":"Kelvin - SC nexus","startTime":887.0,"endTime":889.52,"body":"came up with this idea at that"},{"speaker":"Kelvin - SC nexus","startTime":889.52,"endTime":893.18,"body":"point in time, and I basically"},{"speaker":"Kelvin - SC nexus","startTime":889.52,"endTime":893.18,"body":"pitched it to the CEO of the"},{"speaker":"Kelvin - SC nexus","startTime":893.18,"endTime":897.77,"body":"bank, Bill Winters, and Andy"},{"speaker":"Kelvin - SC nexus","startTime":893.18,"endTime":897.77,"body":"Halford, the CFO. And long story"},{"speaker":"Kelvin - SC nexus","startTime":897.77,"endTime":901.25,"body":"short, got it funded and put"},{"speaker":"Kelvin - SC nexus","startTime":897.77,"endTime":901.25,"body":"into a separate piece and got us"},{"speaker":"Kelvin - SC nexus","startTime":901.25,"endTime":904.55,"body":"isolated so that we can deliver."},{"speaker":"Kelvin - SC nexus","startTime":901.25,"endTime":904.55,"body":"And that's where we are today."},{"speaker":"Irza - AIBP","startTime":904.0,"endTime":907.45,"body":"I think that's a"},{"speaker":"Irza - AIBP","startTime":904.0,"endTime":907.45,"body":"question a lot when we speak to"},{"speaker":"Irza - AIBP","startTime":907.87,"endTime":910.48,"body":"traditional, they don't like"},{"speaker":"Irza - AIBP","startTime":907.87,"endTime":910.48,"body":"being called this traditional"},{"speaker":"Irza - AIBP","startTime":910.48,"endTime":913.45,"body":"incumbent legacy banks. Nobody"},{"speaker":"Irza - AIBP","startTime":910.48,"endTime":913.45,"body":"likes being called that anymore"},{"speaker":"Irza - AIBP","startTime":913.45,"endTime":917.5,"body":"because it's not cool. But when"},{"speaker":"Irza - AIBP","startTime":913.45,"endTime":917.5,"body":"we speak to these, I would call"},{"speaker":"Irza - AIBP","startTime":917.5,"endTime":920.83,"body":"them incumbents, right? There's"},{"speaker":"Irza - AIBP","startTime":917.5,"endTime":920.83,"body":"this problem with regards to how"},{"speaker":"Irza - AIBP","startTime":920.83,"endTime":925.36,"body":"do they evolve as a bank, and"},{"speaker":"Irza - AIBP","startTime":920.83,"endTime":925.36,"body":"when you talk about efficiency,"},{"speaker":"Irza - AIBP","startTime":925.36,"endTime":929.11,"body":"you talked about profitable"},{"speaker":"Irza - AIBP","startTime":925.36,"endTime":929.11,"body":"customer acquisition, within the"},{"speaker":"Irza - AIBP","startTime":929.11,"endTime":933.4,"body":"SME or consumer space. It's hard"},{"speaker":"Irza - AIBP","startTime":929.11,"endTime":933.4,"body":"to be a bit more efficient, even"},{"speaker":"Irza - AIBP","startTime":933.4,"endTime":935.8,"body":"with all the technology you have"},{"speaker":"Irza - AIBP","startTime":933.4,"endTime":935.8,"body":"available. So what Standard"},{"speaker":"Irza - AIBP","startTime":935.8,"endTime":941.02,"body":"Chartered has done, you have SC"},{"speaker":"Irza - AIBP","startTime":935.8,"endTime":941.02,"body":"Ventures, you have nexus and Mox"},{"speaker":"Irza - AIBP","startTime":941.02,"endTime":944.26,"body":"as well right the digital bank"},{"speaker":"Irza - AIBP","startTime":941.02,"endTime":944.26,"body":"out of Hong Kong? Can you"},{"speaker":"Irza - AIBP","startTime":944.35,"endTime":947.71,"body":"quickly walk through us the"},{"speaker":"Irza - AIBP","startTime":944.35,"endTime":947.71,"body":"entire process across the last"},{"speaker":"Irza - AIBP","startTime":947.71,"endTime":951.34,"body":"four or five years with regards"},{"speaker":"Irza - AIBP","startTime":947.71,"endTime":951.34,"body":"to what it took internally for"},{"speaker":"Irza - AIBP","startTime":951.4,"endTime":955.96,"body":"Standard Chartered as an"},{"speaker":"Irza - AIBP","startTime":951.4,"endTime":955.96,"body":"incumbent bank, to come up with"},{"speaker":"Irza - AIBP","startTime":956.02,"endTime":958.78,"body":"an entity like nexus today? You"},{"speaker":"Irza - AIBP","startTime":956.02,"endTime":958.78,"body":"mentioned you had to pitch it to"},{"speaker":"Irza - AIBP","startTime":958.78,"endTime":963.52,"body":"the CEO. How much obstacles were"},{"speaker":"Irza - AIBP","startTime":958.78,"endTime":963.52,"body":"there? How much pain points were"},{"speaker":"Irza - AIBP","startTime":963.52,"endTime":966.88,"body":"there in actually getting this"},{"speaker":"Irza - AIBP","startTime":963.52,"endTime":966.88,"body":"off the ground? I see you on"},{"speaker":"Irza - AIBP","startTime":966.88,"endTime":969.58,"body":"LinkedIn, you're hiring so many"},{"speaker":"Irza - AIBP","startTime":966.88,"endTime":969.58,"body":"people now, right? For for SC"},{"speaker":"Irza - AIBP","startTime":969.58,"endTime":972.31,"body":"nexus. It's been, I'm sure a"},{"speaker":"Irza - AIBP","startTime":969.58,"endTime":972.31,"body":"very interesting journey over"},{"speaker":"Irza - AIBP","startTime":972.31,"endTime":975.4,"body":"the last four years. But what"},{"speaker":"Irza - AIBP","startTime":972.31,"endTime":975.4,"body":"was required to take that shift"},{"speaker":"Irza - AIBP","startTime":975.4,"endTime":978.91,"body":"from \"Hey, you know what, let's"},{"speaker":"Irza - AIBP","startTime":975.4,"endTime":978.91,"body":"just focus on building products"},{"speaker":"Irza - AIBP","startTime":978.91,"endTime":982.78,"body":"for people over 55 years old\" to"},{"speaker":"Irza - AIBP","startTime":978.91,"endTime":982.78,"body":"\"Hold on. I'm looking at"},{"speaker":"Irza - AIBP","startTime":983.05,"endTime":985.33,"body":"banking-as-a-service platform\"."},{"speaker":"Irza - AIBP","startTime":983.05,"endTime":985.33,"body":"It's a massive change, right?"},{"speaker":"Kelvin - SC nexus","startTime":985.0,"endTime":987.15,"body":"Yeah,"},{"speaker":"Kelvin - SC nexus","startTime":985.0,"endTime":987.15,"body":"absolutely. I mean, if we take"},{"speaker":"Kelvin - SC nexus","startTime":987.209,"endTime":990.136,"body":"it into context, Standard"},{"speaker":"Kelvin - SC nexus","startTime":987.209,"endTime":990.136,"body":"Chartered Bank has been"},{"speaker":"Kelvin - SC nexus","startTime":990.196,"endTime":993.72,"body":"incredibly progressive on that"},{"speaker":"Kelvin - SC nexus","startTime":990.196,"endTime":993.72,"body":"front. Obviously, we are not"},{"speaker":"Kelvin - SC nexus","startTime":993.779,"endTime":997.303,"body":"just putting money where our"},{"speaker":"Kelvin - SC nexus","startTime":993.779,"endTime":997.303,"body":"mouth is, in terms of building"},{"speaker":"Kelvin - SC nexus","startTime":997.363,"endTime":1001.066,"body":"new business models with Mox,"},{"speaker":"Kelvin - SC nexus","startTime":997.363,"endTime":1001.066,"body":"and nexus, and other things that"},{"speaker":"Kelvin - SC nexus","startTime":1001.126,"endTime":1004.829,"body":"we've announced, TASConnect, and"},{"speaker":"Kelvin - SC nexus","startTime":1001.126,"endTime":1004.829,"body":"a whole bunch of other stuff."},{"speaker":"Kelvin - SC nexus","startTime":1004.888,"endTime":1008.472,"body":"SOLV, even crypto custodian in"},{"speaker":"Kelvin - SC nexus","startTime":1004.888,"endTime":1008.472,"body":"Zodia, in London, right. So a"},{"speaker":"Kelvin - SC nexus","startTime":1008.532,"endTime":1011.757,"body":"bunch of stuff that we've done."},{"speaker":"Kelvin - SC nexus","startTime":1008.532,"endTime":1011.757,"body":"Obviously, at the very"},{"speaker":"Kelvin - SC nexus","startTime":1011.817,"endTime":1015.161,"body":"beginning, from an individual's"},{"speaker":"Kelvin - SC nexus","startTime":1011.817,"endTime":1015.161,"body":"point of view, require a"},{"speaker":"Kelvin - SC nexus","startTime":1015.221,"endTime":1018.924,"body":"significant leap of faith in the"},{"speaker":"Kelvin - SC nexus","startTime":1015.221,"endTime":1018.924,"body":"idea, I had to give up my day"},{"speaker":"Kelvin - SC nexus","startTime":1018.984,"endTime":1022.448,"body":"job to take this leap of faith,"},{"speaker":"Kelvin - SC nexus","startTime":1018.984,"endTime":1022.448,"body":"as it was just me and five"},{"speaker":"Kelvin - SC nexus","startTime":1022.508,"endTime":1026.151,"body":"slides, and a coffee, with Bill,"},{"speaker":"Kelvin - SC nexus","startTime":1022.508,"endTime":1026.151,"body":"Judy and Andy, and so on. So"},{"speaker":"Kelvin - SC nexus","startTime":1026.211,"endTime":1029.376,"body":"significant leap of faith. But"},{"speaker":"Kelvin - SC nexus","startTime":1026.211,"endTime":1029.376,"body":"the bank has been very"},{"speaker":"Kelvin - SC nexus","startTime":1029.436,"endTime":1033.139,"body":"progressive in supporting this."},{"speaker":"Kelvin - SC nexus","startTime":1029.436,"endTime":1033.139,"body":"And obviously, they funded. As"},{"speaker":"Kelvin - SC nexus","startTime":1033.199,"endTime":1036.902,"body":"with all banks, we go through"},{"speaker":"Kelvin - SC nexus","startTime":1033.199,"endTime":1036.902,"body":"multiple rounds of conversations"},{"speaker":"Kelvin - SC nexus","startTime":1036.961,"endTime":1040.485,"body":"to get to the funding. But"},{"speaker":"Kelvin - SC nexus","startTime":1036.961,"endTime":1040.485,"body":"eventually we got funded, and we"},{"speaker":"Kelvin - SC nexus","startTime":1040.545,"endTime":1044.188,"body":"push, and we expanded and we"},{"speaker":"Kelvin - SC nexus","startTime":1040.545,"endTime":1044.188,"body":"built the platform. The last two"},{"speaker":"Kelvin - SC nexus","startTime":1044.248,"endTime":1047.712,"body":"years has actually been well,"},{"speaker":"Kelvin - SC nexus","startTime":1044.248,"endTime":1047.712,"body":"internally relatively smooth"},{"speaker":"Kelvin - SC nexus","startTime":1047.772,"endTime":1051.236,"body":"sailing right? After you get"},{"speaker":"Kelvin - SC nexus","startTime":1047.772,"endTime":1051.236,"body":"past the initial idea, people"},{"speaker":"Kelvin - SC nexus","startTime":1051.296,"endTime":1055.058,"body":"understand what you're trying to"},{"speaker":"Kelvin - SC nexus","startTime":1051.296,"endTime":1055.058,"body":"do, then the real challenge is"},{"speaker":"Kelvin - SC nexus","startTime":1055.118,"endTime":1058.881,"body":"actually hitting the timelines"},{"speaker":"Kelvin - SC nexus","startTime":1055.118,"endTime":1058.881,"body":"on the bill. Because most people"},{"speaker":"Kelvin - SC nexus","startTime":1058.94,"endTime":1062.644,"body":"underestimate what it takes to"},{"speaker":"Kelvin - SC nexus","startTime":1058.94,"endTime":1062.644,"body":"build something, really, to the"},{"speaker":"Kelvin - SC nexus","startTime":1062.703,"endTime":1066.227,"body":"standards required, to the"},{"speaker":"Kelvin - SC nexus","startTime":1062.703,"endTime":1066.227,"body":"security standards required, for"},{"speaker":"Kelvin - SC nexus","startTime":1066.287,"endTime":1069.631,"body":"banking. So that that was"},{"speaker":"Kelvin - SC nexus","startTime":1066.287,"endTime":1069.631,"body":"actually the real obstacle. At"},{"speaker":"Kelvin - SC nexus","startTime":1069.691,"endTime":1073.335,"body":"the working level, obviously,"},{"speaker":"Kelvin - SC nexus","startTime":1069.691,"endTime":1073.335,"body":"you've always tried to convince"},{"speaker":"Kelvin - SC nexus","startTime":1073.394,"endTime":1077.217,"body":"people and some people will not"},{"speaker":"Kelvin - SC nexus","startTime":1073.394,"endTime":1077.217,"body":"be convinced purely because they"},{"speaker":"Kelvin - SC nexus","startTime":1077.276,"endTime":1080.92,"body":"have never seen anything else"},{"speaker":"Kelvin - SC nexus","startTime":1077.276,"endTime":1080.92,"body":"like this. I won't shy from the"},{"speaker":"Kelvin - SC nexus","startTime":1080.979,"endTime":1084.324,"body":"fact that I've had many"},{"speaker":"Kelvin - SC nexus","startTime":1080.979,"endTime":1084.324,"body":"conversations, where people say,"},{"speaker":"Kelvin - SC nexus","startTime":1084.384,"endTime":1087.788,"body":"in my thirty years of banking,"},{"speaker":"Kelvin - SC nexus","startTime":1084.384,"endTime":1087.788,"body":"never seen this thing that"},{"speaker":"Kelvin - SC nexus","startTime":1087.848,"endTime":1091.491,"body":"you're talking about, it will"},{"speaker":"Kelvin - SC nexus","startTime":1087.848,"endTime":1091.491,"body":"never work. Oh, it's just like,"},{"speaker":"Kelvin - SC nexus","startTime":1091.551,"endTime":1095.075,"body":"it's like a co-brand card, it"},{"speaker":"Kelvin - SC nexus","startTime":1091.551,"endTime":1095.075,"body":"will never work. We don't see"},{"speaker":"Kelvin - SC nexus","startTime":1095.135,"endTime":1098.599,"body":"that kind of value. I mean,"},{"speaker":"Kelvin - SC nexus","startTime":1095.135,"endTime":1098.599,"body":"sometimes you will say in your"},{"speaker":"Kelvin - SC nexus","startTime":1098.658,"endTime":1101.943,"body":"thirty years of banking"},{"speaker":"Kelvin - SC nexus","startTime":1098.658,"endTime":1101.943,"body":"experience, you've led us to 2%"},{"speaker":"Kelvin - SC nexus","startTime":1102.003,"endTime":1102.78,"body":"market share."},{"speaker":"Irza - AIBP","startTime":1105.36,"endTime":1106.62,"body":"I hope you didn't"},{"speaker":"Irza - AIBP","startTime":1105.36,"endTime":1106.62,"body":"say that out loud."},{"speaker":"Kelvin - SC nexus","startTime":1106.0,"endTime":1112.48,"body":"I actually"},{"speaker":"Kelvin - SC nexus","startTime":1106.0,"endTime":1112.48,"body":"did that once, but not a great"},{"speaker":"Kelvin - SC nexus","startTime":1112.48,"endTime":1114.91,"body":"experience. No, the point is the"},{"speaker":"Kelvin - SC nexus","startTime":1112.48,"endTime":1114.91,"body":"bank has been extremely"},{"speaker":"Kelvin - SC nexus","startTime":1114.91,"endTime":1118.63,"body":"progressive, on that front, all"},{"speaker":"Kelvin - SC nexus","startTime":1114.91,"endTime":1118.63,"body":"things considered. And we are"},{"speaker":"Kelvin - SC nexus","startTime":1118.66,"endTime":1121.9,"body":"live, and we are up and running."},{"speaker":"Kelvin - SC nexus","startTime":1118.66,"endTime":1121.9,"body":"And we are going multimarket,"},{"speaker":"Kelvin - SC nexus","startTime":1125.44,"endTime":1128.98,"body":"which we which is more than you"},{"speaker":"Kelvin - SC nexus","startTime":1125.44,"endTime":1128.98,"body":"can say for most banks. And if"},{"speaker":"Kelvin - SC nexus","startTime":1128.98,"endTime":1132.73,"body":"you look at LinkedIn, purely,"},{"speaker":"Kelvin - SC nexus","startTime":1128.98,"endTime":1132.73,"body":"every other bank is now started"},{"speaker":"Kelvin - SC nexus","startTime":1132.73,"endTime":1136.51,"body":"looking at banking-as-a-service,"},{"speaker":"Kelvin - SC nexus","startTime":1132.73,"endTime":1136.51,"body":"and embedded finance. DBS has"},{"speaker":"Kelvin - SC nexus","startTime":1136.51,"endTime":1139.33,"body":"started hiring for"},{"speaker":"Kelvin - SC nexus","startTime":1136.51,"endTime":1139.33,"body":"banking-as-a-service. HSBC has"},{"speaker":"Kelvin - SC nexus","startTime":1139.36,"endTime":1144.07,"body":"announced something. Butif we"},{"speaker":"Kelvin - SC nexus","startTime":1139.36,"endTime":1144.07,"body":"didn't embarked on this journey"},{"speaker":"Kelvin - SC nexus","startTime":1144.07,"endTime":1147.97,"body":"four years ago, we wouldn't have"},{"speaker":"Kelvin - SC nexus","startTime":1144.07,"endTime":1147.97,"body":"anything at this point. So this"},{"speaker":"Kelvin - SC nexus","startTime":1147.97,"endTime":1150.22,"body":"has been an incredibly good"},{"speaker":"Kelvin - SC nexus","startTime":1147.97,"endTime":1150.22,"body":"journey, incredibly progressive"},{"speaker":"Kelvin - SC nexus","startTime":1150.22,"endTime":1152.5,"body":"from the bank, and the"},{"speaker":"Kelvin - SC nexus","startTime":1150.22,"endTime":1152.5,"body":"leadership of the bank. And we"},{"speaker":"Kelvin - SC nexus","startTime":1152.5,"endTime":1155.74,"body":"are where we are, we are hoping"},{"speaker":"Kelvin - SC nexus","startTime":1152.5,"endTime":1155.74,"body":"to scale multimarket"},{"speaker":"Kelvin - SC nexus","startTime":1155.77,"endTime":1159.91,"body":"multi-partner, and make this the"},{"speaker":"Kelvin - SC nexus","startTime":1155.77,"endTime":1159.91,"body":"real engine of growth from a"},{"speaker":"Kelvin - SC nexus","startTime":1159.94,"endTime":1162.4,"body":"cost income ratio and"},{"speaker":"Kelvin - SC nexus","startTime":1159.94,"endTime":1162.4,"body":"return-on-equity perspective for"},{"speaker":"Kelvin - SC nexus","startTime":1162.4,"endTime":1165.61,"body":"the bank, and as well as for the"},{"speaker":"Kelvin - SC nexus","startTime":1162.4,"endTime":1165.61,"body":"partner, and create a new"},{"speaker":"Kelvin - SC nexus","startTime":1165.61,"endTime":1168.55,"body":"banking experience for consumers"},{"speaker":"Kelvin - SC nexus","startTime":1165.61,"endTime":1168.55,"body":"everywhere across our footprint"},{"speaker":"Kelvin - SC nexus","startTime":1168.73,"endTime":1170.14,"body":"in Asia, Africa and the Middle"},{"speaker":"Kelvin - SC nexus","startTime":1168.73,"endTime":1170.14,"body":"East."},{"speaker":"Irza - AIBP","startTime":1170.99,"endTime":1174.17,"body":"Perfect. Well, how"},{"speaker":"Irza - AIBP","startTime":1170.99,"endTime":1174.17,"body":"does in terms of organisation"},{"speaker":"Irza - AIBP","startTime":1174.17,"endTime":1179.75,"body":"structure, talk about that for a"},{"speaker":"Irza - AIBP","startTime":1174.17,"endTime":1179.75,"body":"little bit? Because I think for"},{"speaker":"Irza - AIBP","startTime":1179.78,"endTime":1182.93,"body":"a lot of companies, there's been"},{"speaker":"Irza - AIBP","startTime":1179.78,"endTime":1182.93,"body":"this ongoing discussion. I think"},{"speaker":"Irza - AIBP","startTime":1182.93,"endTime":1185.03,"body":"you're very familiar with this"},{"speaker":"Irza - AIBP","startTime":1182.93,"endTime":1185.03,"body":"right? Do I build a digital bank"},{"speaker":"Irza - AIBP","startTime":1185.03,"endTime":1188.18,"body":"separate from my current bank or"},{"speaker":"Irza - AIBP","startTime":1185.03,"endTime":1188.18,"body":"do I provide digital banking"},{"speaker":"Irza - AIBP","startTime":1188.18,"endTime":1193.04,"body":"services which is not a digital"},{"speaker":"Irza - AIBP","startTime":1188.18,"endTime":1193.04,"body":"bank? Right. So how is SC nexus"},{"speaker":"Irza - AIBP","startTime":1193.4,"endTime":1196.25,"body":"organised in terms of within the"},{"speaker":"Irza - AIBP","startTime":1193.4,"endTime":1196.25,"body":"larger picture of Standard"},{"speaker":"Irza - AIBP","startTime":1196.25,"endTime":1196.61,"body":"Chartered?"},{"speaker":"Kelvin - SC nexus","startTime":1197.6,"endTime":1201.8,"body":"Right? So as"},{"speaker":"Kelvin - SC nexus","startTime":1197.6,"endTime":1201.8,"body":"the Global Head of SC nexus, my"},{"speaker":"Kelvin - SC nexus","startTime":1201.8,"endTime":1205.79,"body":"responsibility and obligation"},{"speaker":"Kelvin - SC nexus","startTime":1201.8,"endTime":1205.79,"body":"for delivery goes to Judy,"},{"speaker":"Kelvin - SC nexus","startTime":1206.27,"endTime":1210.56,"body":"right. I report to Judy with"},{"speaker":"Kelvin - SC nexus","startTime":1206.27,"endTime":1210.56,"body":"regards to delivery of nexus in"},{"speaker":"Kelvin - SC nexus","startTime":1210.56,"endTime":1213.14,"body":"Indonesia, and soon in other"},{"speaker":"Kelvin - SC nexus","startTime":1210.56,"endTime":1213.14,"body":"countries that we are"},{"speaker":"Kelvin - SC nexus","startTime":1213.2,"endTime":1219.26,"body":"announcing. However, on that"},{"speaker":"Kelvin - SC nexus","startTime":1213.2,"endTime":1219.26,"body":"front, we are also thinking"},{"speaker":"Kelvin - SC nexus","startTime":1219.29,"endTime":1223.46,"body":"about creating the monetisation"},{"speaker":"Kelvin - SC nexus","startTime":1219.29,"endTime":1223.46,"body":"of the particular IP that we're"},{"speaker":"Kelvin - SC nexus","startTime":1223.46,"endTime":1226.37,"body":"building for Standard Chartered."},{"speaker":"Kelvin - SC nexus","startTime":1223.46,"endTime":1226.37,"body":"So there is a composite, which"},{"speaker":"Kelvin - SC nexus","startTime":1226.37,"endTime":1229.88,"body":"is why from a reporting line"},{"speaker":"Kelvin - SC nexus","startTime":1226.37,"endTime":1229.88,"body":"standpoint, I am house in SC"},{"speaker":"Kelvin - SC nexus","startTime":1229.88,"endTime":1233.81,"body":"Ventures. At some point, when"},{"speaker":"Kelvin - SC nexus","startTime":1229.88,"endTime":1233.81,"body":"there is scale and stability, we"},{"speaker":"Kelvin - SC nexus","startTime":1233.81,"endTime":1236.99,"body":"are looking to go out and help"},{"speaker":"Kelvin - SC nexus","startTime":1233.81,"endTime":1236.99,"body":"other smaller banks do this."},{"speaker":"Kelvin - SC nexus","startTime":1238.73,"endTime":1240.89,"body":"Basically say look what we've"},{"speaker":"Kelvin - SC nexus","startTime":1238.73,"endTime":1240.89,"body":"done for Standard Chartered, we"},{"speaker":"Kelvin - SC nexus","startTime":1240.89,"endTime":1245.54,"body":"can help you do the same. So"},{"speaker":"Kelvin - SC nexus","startTime":1240.89,"endTime":1245.54,"body":"that's a conversation that we're"},{"speaker":"Kelvin - SC nexus","startTime":1245.54,"endTime":1248.72,"body":"having. But from an SC nexus"},{"speaker":"Kelvin - SC nexus","startTime":1245.54,"endTime":1248.72,"body":"perspective, not the Venture,"},{"speaker":"Kelvin - SC nexus","startTime":1248.75,"endTime":1251.78,"body":"not the spin-off, from a SC"},{"speaker":"Kelvin - SC nexus","startTime":1248.75,"endTime":1251.78,"body":"nexus perspective, it sits in"},{"speaker":"Kelvin - SC nexus","startTime":1251.78,"endTime":1254.84,"body":"the retail and SME bank, and I'm"},{"speaker":"Kelvin - SC nexus","startTime":1251.78,"endTime":1254.84,"body":"accountable to Judy Hsu, for"},{"speaker":"Kelvin - SC nexus","startTime":1254.84,"endTime":1255.32,"body":"delivery."},{"speaker":"Irza - AIBP","startTime":1255.0,"endTime":1257.865,"body":"Okay. Okay, we're"},{"speaker":"Irza - AIBP","startTime":1255.0,"endTime":1257.865,"body":"coming close to the end of this"},{"speaker":"Irza - AIBP","startTime":1257.923,"endTime":1261.49,"body":"episode. Kelvin, but before I"},{"speaker":"Irza - AIBP","startTime":1257.923,"endTime":1261.49,"body":"let you go, I noticed something"},{"speaker":"Irza - AIBP","startTime":1261.549,"endTime":1264.999,"body":"right. Because for Standard"},{"speaker":"Irza - AIBP","startTime":1261.549,"endTime":1264.999,"body":"Chartered, I believe the global"},{"speaker":"Irza - AIBP","startTime":1265.058,"endTime":1268.683,"body":"HQ is out of Singapore, right?"},{"speaker":"Irza - AIBP","startTime":1265.058,"endTime":1268.683,"body":"It used to be, I think, in Hong"},{"speaker":"Irza - AIBP","startTime":1268.742,"endTime":1272.133,"body":"Kong, or London, and then it"},{"speaker":"Irza - AIBP","startTime":1268.742,"endTime":1272.133,"body":"moved to Singapore quite some"},{"speaker":"Irza - AIBP","startTime":1272.192,"endTime":1275.876,"body":"time ago. And within Singapore,"},{"speaker":"Irza - AIBP","startTime":1272.192,"endTime":1275.876,"body":"I think you're very well aware."},{"speaker":"Irza - AIBP","startTime":1275.934,"endTime":1279.326,"body":"It's a hub for Southeast Asia."},{"speaker":"Irza - AIBP","startTime":1275.934,"endTime":1279.326,"body":"And you launched your first"},{"speaker":"Irza - AIBP","startTime":1279.384,"endTime":1282.484,"body":"nexus partnerships within"},{"speaker":"Irza - AIBP","startTime":1279.384,"endTime":1282.484,"body":"Indonesia. When you look at"},{"speaker":"Irza - AIBP","startTime":1282.542,"endTime":1285.641,"body":"geographic reach of Standard"},{"speaker":"Irza - AIBP","startTime":1282.542,"endTime":1285.641,"body":"Chartered as a bank, and"},{"speaker":"Irza - AIBP","startTime":1285.7,"endTime":1288.975,"body":"eventually nexus as well, you"},{"speaker":"Irza - AIBP","startTime":1285.7,"endTime":1288.975,"body":"know, we touched on this a"},{"speaker":"Irza - AIBP","startTime":1289.033,"endTime":1292.717,"body":"little bit just now, the markets"},{"speaker":"Irza - AIBP","startTime":1289.033,"endTime":1292.717,"body":"that you find interesting, but"},{"speaker":"Irza - AIBP","startTime":1292.776,"endTime":1296.343,"body":"what are the main factors you"},{"speaker":"Irza - AIBP","startTime":1292.776,"endTime":1296.343,"body":"look at? So for example, if I'm"},{"speaker":"Irza - AIBP","startTime":1296.401,"endTime":1300.085,"body":"a digital native company sitting"},{"speaker":"Irza - AIBP","startTime":1296.401,"endTime":1300.085,"body":"out of country X, what are the"},{"speaker":"Irza - AIBP","startTime":1300.144,"endTime":1303.769,"body":"factors I should look at before"},{"speaker":"Irza - AIBP","startTime":1300.144,"endTime":1303.769,"body":"I say, reach out to Kelvin and"},{"speaker":"Irza - AIBP","startTime":1303.828,"endTime":1307.57,"body":"his team at Nexus to say, \"Hey,"},{"speaker":"Irza - AIBP","startTime":1303.828,"endTime":1307.57,"body":"you know what, I'm interested in"},{"speaker":"Irza - AIBP","startTime":1307.629,"endTime":1311.196,"body":"a partnership, I'm interested to"},{"speaker":"Irza - AIBP","startTime":1307.629,"endTime":1311.196,"body":"build my own digital banking"},{"speaker":"Irza - AIBP","startTime":1311.254,"endTime":1314.471,"body":"ecosystem or using your"},{"speaker":"Irza - AIBP","startTime":1311.254,"endTime":1314.471,"body":"platform\", what are the factors"},{"speaker":"Irza - AIBP","startTime":1314.529,"endTime":1316.05,"body":"they should be looking at?"},{"speaker":"Kelvin - SC nexus","startTime":1317.62,"endTime":1322.36,"body":"Oh, it's very"},{"speaker":"Kelvin - SC nexus","startTime":1317.62,"endTime":1322.36,"body":"simple. Do you require a"},{"speaker":"Kelvin - SC nexus","startTime":1322.36,"endTime":1327.46,"body":"financial services capability to"},{"speaker":"Kelvin - SC nexus","startTime":1322.36,"endTime":1327.46,"body":"create the right use cases for a"},{"speaker":"Kelvin - SC nexus","startTime":1327.46,"endTime":1330.31,"body":"path to profitability for your"},{"speaker":"Kelvin - SC nexus","startTime":1327.46,"endTime":1330.31,"body":"user base? Assuming you've got a"},{"speaker":"Kelvin - SC nexus","startTime":1330.31,"endTime":1335.41,"body":"large user base of some sort. Do"},{"speaker":"Kelvin - SC nexus","startTime":1330.31,"endTime":1335.41,"body":"you want to do it yourself? Is"},{"speaker":"Kelvin - SC nexus","startTime":1335.47,"endTime":1339.64,"body":"the country that you're in going"},{"speaker":"Kelvin - SC nexus","startTime":1335.47,"endTime":1339.64,"body":"to supply digital banking"},{"speaker":"Kelvin - SC nexus","startTime":1339.64,"endTime":1343.69,"body":"licenses for you to bid? And"},{"speaker":"Kelvin - SC nexus","startTime":1339.64,"endTime":1343.69,"body":"would you be successful? And if"},{"speaker":"Kelvin - SC nexus","startTime":1343.69,"endTime":1346.6,"body":"not, would you acquire a bank to"},{"speaker":"Kelvin - SC nexus","startTime":1343.69,"endTime":1346.6,"body":"do so? Do you want to be a"},{"speaker":"Kelvin - SC nexus","startTime":1346.6,"endTime":1349.09,"body":"regulated entity that you have"},{"speaker":"Kelvin - SC nexus","startTime":1346.6,"endTime":1349.09,"body":"to answer to the local"},{"speaker":"Kelvin - SC nexus","startTime":1349.09,"endTime":1356.05,"body":"regulators? And is the country's"},{"speaker":"Kelvin - SC nexus","startTime":1349.09,"endTime":1356.05,"body":"digital infrastructure both from"},{"speaker":"Kelvin - SC nexus","startTime":1356.05,"endTime":1361.03,"body":"an identity as well as a credit"},{"speaker":"Kelvin - SC nexus","startTime":1356.05,"endTime":1361.03,"body":"perspective up and running? If"},{"speaker":"Kelvin - SC nexus","startTime":1361.03,"endTime":1366.1,"body":"you can answer those questions,"},{"speaker":"Kelvin - SC nexus","startTime":1361.03,"endTime":1366.1,"body":"specifically, and the answer is,"},{"speaker":"Kelvin - SC nexus","startTime":1366.25,"endTime":1368.68,"body":"yes, I want to build financial"},{"speaker":"Kelvin - SC nexus","startTime":1366.25,"endTime":1368.68,"body":"services. Yes, I want to be"},{"speaker":"Kelvin - SC nexus","startTime":1368.86,"endTime":1372.13,"body":"stickier ecosystem. No, I don't"},{"speaker":"Kelvin - SC nexus","startTime":1368.86,"endTime":1372.13,"body":"actually want to do this myself,"},{"speaker":"Kelvin - SC nexus","startTime":1372.13,"endTime":1374.65,"body":"because it is super painful and"},{"speaker":"Kelvin - SC nexus","startTime":1372.13,"endTime":1374.65,"body":"super expensive, and will take"},{"speaker":"Kelvin - SC nexus","startTime":1374.65,"endTime":1380.83,"body":"forever to pay off. And yes, the"},{"speaker":"Kelvin - SC nexus","startTime":1374.65,"endTime":1380.83,"body":"country is conducive to it. And"},{"speaker":"Kelvin - SC nexus","startTime":1380.83,"endTime":1384.43,"body":"most countries actually are"},{"speaker":"Kelvin - SC nexus","startTime":1380.83,"endTime":1384.43,"body":"increasingly so, then perhaps"},{"speaker":"Kelvin - SC nexus","startTime":1384.46,"endTime":1387.43,"body":"give us a call and explore the"},{"speaker":"Kelvin - SC nexus","startTime":1384.46,"endTime":1387.43,"body":"opportunity of using the"},{"speaker":"Kelvin - SC nexus","startTime":1387.43,"endTime":1391.27,"body":"Standard Chartered capability,"},{"speaker":"Kelvin - SC nexus","startTime":1387.43,"endTime":1391.27,"body":"nexus capability, with the"},{"speaker":"Kelvin - SC nexus","startTime":1391.27,"endTime":1394.6,"body":"license and the balance sheet of"},{"speaker":"Kelvin - SC nexus","startTime":1391.27,"endTime":1394.6,"body":"the bank. And, you know, you"},{"speaker":"Kelvin - SC nexus","startTime":1394.6,"endTime":1397.78,"body":"built your front end, and we"},{"speaker":"Kelvin - SC nexus","startTime":1394.6,"endTime":1397.78,"body":"will manage everything on the"},{"speaker":"Kelvin - SC nexus","startTime":1397.78,"endTime":1399.76,"body":"back end, and we come to some"},{"speaker":"Kelvin - SC nexus","startTime":1397.78,"endTime":1399.76,"body":"kind of a commercial agreement"},{"speaker":"Kelvin - SC nexus","startTime":1399.76,"endTime":1403.33,"body":"that works. Yeah, that's it."},{"speaker":"Kelvin - SC nexus","startTime":1399.76,"endTime":1403.33,"body":"That's really quite simple. And,"},{"speaker":"Kelvin - SC nexus","startTime":1404.08,"endTime":1408.82,"body":"at this point, we are"},{"speaker":"Kelvin - SC nexus","startTime":1404.08,"endTime":1408.82,"body":"entertaining 10s, well, 20, 30"},{"speaker":"Kelvin - SC nexus","startTime":1408.82,"endTime":1412.15,"body":"conversations concurrently."},{"speaker":"Kelvin - SC nexus","startTime":1408.82,"endTime":1412.15,"body":"Realistically, we will probably"},{"speaker":"Kelvin - SC nexus","startTime":1412.15,"endTime":1415.39,"body":"convert maybe less than 10% of"},{"speaker":"Kelvin - SC nexus","startTime":1412.15,"endTime":1415.39,"body":"those conversations, right?"},{"speaker":"Kelvin - SC nexus","startTime":1415.75,"endTime":1418.78,"body":"People will understand, oh, this"},{"speaker":"Kelvin - SC nexus","startTime":1415.75,"endTime":1418.78,"body":"works. This doesn't work."},{"speaker":"Kelvin - SC nexus","startTime":1418.81,"endTime":1422.29,"body":"There's a pain point here."},{"speaker":"Kelvin - SC nexus","startTime":1418.81,"endTime":1422.29,"body":"Because at the end of the day,"},{"speaker":"Kelvin - SC nexus","startTime":1422.53,"endTime":1426.64,"body":"if you deal with a bank, there"},{"speaker":"Kelvin - SC nexus","startTime":1422.53,"endTime":1426.64,"body":"will always be downsides. And"},{"speaker":"Kelvin - SC nexus","startTime":1426.64,"endTime":1429.07,"body":"there will always be upsides."},{"speaker":"Kelvin - SC nexus","startTime":1426.64,"endTime":1429.07,"body":"You can go apply for a license"},{"speaker":"Kelvin - SC nexus","startTime":1429.07,"endTime":1432.1,"body":"and have full autonomy. But then"},{"speaker":"Kelvin - SC nexus","startTime":1429.07,"endTime":1432.1,"body":"that will be a very fun"},{"speaker":"Kelvin - SC nexus","startTime":1432.1,"endTime":1434.08,"body":"conversation to be having with"},{"speaker":"Kelvin - SC nexus","startTime":1432.1,"endTime":1434.08,"body":"the regulations."},{"speaker":"Irza - AIBP","startTime":1434.0,"endTime":1439.01,"body":"And it's a fairly"},{"speaker":"Irza - AIBP","startTime":1434.0,"endTime":1439.01,"body":"new, the idea for non-bankers,"},{"speaker":"Irza - AIBP","startTime":1440.24,"endTime":1444.53,"body":"banking-as-a-service is still a"},{"speaker":"Irza - AIBP","startTime":1440.24,"endTime":1444.53,"body":"fairly new idea or new concept"},{"speaker":"Irza - AIBP","startTime":1444.53,"endTime":1448.01,"body":"for a lot of people, right."},{"speaker":"Irza - AIBP","startTime":1444.53,"endTime":1448.01,"body":"Let's talk about final things."},{"speaker":"Irza - AIBP","startTime":1448.04,"endTime":1451.28,"body":"Let's talk about growth or"},{"speaker":"Irza - AIBP","startTime":1448.04,"endTime":1451.28,"body":"metrics for nexus itself. You"},{"speaker":"Irza - AIBP","startTime":1451.28,"endTime":1452.99,"body":"know, you mentioned you're"},{"speaker":"Irza - AIBP","startTime":1451.28,"endTime":1452.99,"body":"working with quite a few"},{"speaker":"Irza - AIBP","startTime":1452.99,"endTime":1455.51,"body":"partners, you have a pipeline."},{"speaker":"Irza - AIBP","startTime":1452.99,"endTime":1455.51,"body":"What are the metrics you're"},{"speaker":"Irza - AIBP","startTime":1455.51,"endTime":1458.48,"body":"looking at, when you talk about"},{"speaker":"Irza - AIBP","startTime":1455.51,"endTime":1458.48,"body":"growth over the next, I don't"},{"speaker":"Irza - AIBP","startTime":1458.48,"endTime":1460.31,"body":"know, 1, 2, 5, 10 years?"},{"speaker":"Kelvin - SC nexus","startTime":1460.0,"endTime":1462.85,"body":"I think"},{"speaker":"Kelvin - SC nexus","startTime":1460.0,"endTime":1462.85,"body":"internally for nexus is quite"},{"speaker":"Kelvin - SC nexus","startTime":1462.85,"endTime":1466.63,"body":"simple. Number of customers"},{"speaker":"Kelvin - SC nexus","startTime":1462.85,"endTime":1466.63,"body":"acquired, average balance sheet"},{"speaker":"Kelvin - SC nexus","startTime":1466.63,"endTime":1470.14,"body":"size of the customer, and number"},{"speaker":"Kelvin - SC nexus","startTime":1466.63,"endTime":1470.14,"body":"of, obviously, the repeat"},{"speaker":"Kelvin - SC nexus","startTime":1470.14,"endTime":1472.33,"body":"customer rates, and the number"},{"speaker":"Kelvin - SC nexus","startTime":1470.14,"endTime":1472.33,"body":"of transactions that they make,"},{"speaker":"Kelvin - SC nexus","startTime":1473.44,"endTime":1477.1,"body":"typical banking metrics,"},{"speaker":"Kelvin - SC nexus","startTime":1473.44,"endTime":1477.1,"body":"internally for nexus. But in"},{"speaker":"Kelvin - SC nexus","startTime":1477.1,"endTime":1480.61,"body":"collaboration with the partner,"},{"speaker":"Kelvin - SC nexus","startTime":1477.1,"endTime":1480.61,"body":"we also have a conversation"},{"speaker":"Kelvin - SC nexus","startTime":1480.61,"endTime":1484.3,"body":"around the number of customers"},{"speaker":"Kelvin - SC nexus","startTime":1480.61,"endTime":1484.3,"body":"who actually use the service on"},{"speaker":"Kelvin - SC nexus","startTime":1484.3,"endTime":1487.57,"body":"the partners' platform, and use"},{"speaker":"Kelvin - SC nexus","startTime":1484.3,"endTime":1487.57,"body":"the rewards that come with the"},{"speaker":"Kelvin - SC nexus","startTime":1487.57,"endTime":1490.81,"body":"service on the partners'"},{"speaker":"Kelvin - SC nexus","startTime":1487.57,"endTime":1490.81,"body":"platform. So those conversations"},{"speaker":"Kelvin - SC nexus","startTime":1490.84,"endTime":1494.98,"body":"are ongoing in terms of defining"},{"speaker":"Kelvin - SC nexus","startTime":1490.84,"endTime":1494.98,"body":"those metrics. So from that"},{"speaker":"Kelvin - SC nexus","startTime":1494.98,"endTime":1498.13,"body":"perspective, we are trying to"},{"speaker":"Kelvin - SC nexus","startTime":1494.98,"endTime":1498.13,"body":"ensure that we support the value"},{"speaker":"Kelvin - SC nexus","startTime":1498.13,"endTime":1502.6,"body":"proposition of the partners and"},{"speaker":"Kelvin - SC nexus","startTime":1498.13,"endTime":1502.6,"body":"that's actually a key mantra"},{"speaker":"Kelvin - SC nexus","startTime":1502.6,"endTime":1505.45,"body":"that we do. So when they open"},{"speaker":"Kelvin - SC nexus","startTime":1502.6,"endTime":1505.45,"body":"up, you will see that the"},{"speaker":"Kelvin - SC nexus","startTime":1505.45,"endTime":1508.84,"body":"product set for Bukalapak, or"},{"speaker":"Kelvin - SC nexus","startTime":1505.45,"endTime":1508.84,"body":"Buka Tabungan, I can say the"},{"speaker":"Kelvin - SC nexus","startTime":1508.84,"endTime":1511.12,"body":"name of the Bukalapak bank is"},{"speaker":"Kelvin - SC nexus","startTime":1508.84,"endTime":1511.12,"body":"Buka Tabungan."},{"speaker":"Irza - AIBP","startTime":1512.77,"endTime":1515.74,"body":"Which is savings in"},{"speaker":"Irza - AIBP","startTime":1512.77,"endTime":1515.74,"body":"Bahasa right, Buka Tabungan?"},{"speaker":"Kelvin - SC nexus","startTime":1515.8,"endTime":1518.8,"body":"That's right."},{"speaker":"Kelvin - SC nexus","startTime":1515.8,"endTime":1518.8,"body":"Yeah. I can say it because"},{"speaker":"Kelvin - SC nexus","startTime":1518.8,"endTime":1521.62,"body":"they've actually put up an"},{"speaker":"Kelvin - SC nexus","startTime":1518.8,"endTime":1521.62,"body":"Instagram page. So it's public."},{"speaker":"Kelvin - SC nexus","startTime":1523.87,"endTime":1527.74,"body":"Yeah, the product itself will"},{"speaker":"Kelvin - SC nexus","startTime":1523.87,"endTime":1527.74,"body":"support the use case to drive"},{"speaker":"Kelvin - SC nexus","startTime":1527.74,"endTime":1532.15,"body":"more users to actually go and"},{"speaker":"Kelvin - SC nexus","startTime":1527.74,"endTime":1532.15,"body":"purchase things on Bukalapak. I"},{"speaker":"Kelvin - SC nexus","startTime":1532.15,"endTime":1533.8,"body":"can't give you the details of"},{"speaker":"Kelvin - SC nexus","startTime":1532.15,"endTime":1533.8,"body":"what it is at this point,"},{"speaker":"Kelvin - SC nexus","startTime":1533.8,"endTime":1537.82,"body":"because it's not public. But"},{"speaker":"Kelvin - SC nexus","startTime":1533.8,"endTime":1537.82,"body":"that's the idea. So yeah. For"},{"speaker":"Kelvin - SC nexus","startTime":1537.82,"endTime":1542.11,"body":"those partners who think that"},{"speaker":"Kelvin - SC nexus","startTime":1537.82,"endTime":1542.11,"body":"way, who want to do this, and"},{"speaker":"Kelvin - SC nexus","startTime":1542.14,"endTime":1545.11,"body":"the metrics that we're looking"},{"speaker":"Kelvin - SC nexus","startTime":1542.14,"endTime":1545.11,"body":"at, are pretty standard."},{"speaker":"Irza - AIBP","startTime":1545.72,"endTime":1547.7,"body":"Okay, but it's a"},{"speaker":"Irza - AIBP","startTime":1545.72,"endTime":1547.7,"body":"balance of, you know,"},{"speaker":"Irza - AIBP","startTime":1547.7,"endTime":1550.37,"body":"traditional banking metrics, you"},{"speaker":"Irza - AIBP","startTime":1547.7,"endTime":1550.37,"body":"know, balance sheet utilisation,"},{"speaker":"Irza - AIBP","startTime":1550.37,"endTime":1554.51,"body":"return on balance sheet usage."},{"speaker":"Irza - AIBP","startTime":1550.37,"endTime":1554.51,"body":"On top of that, you have metrics"},{"speaker":"Irza - AIBP","startTime":1554.51,"endTime":1556.25,"body":"for your partners as well, or"},{"speaker":"Irza - AIBP","startTime":1554.51,"endTime":1556.25,"body":"all your partners have their own"},{"speaker":"Irza - AIBP","startTime":1556.25,"endTime":1559.28,"body":"metrics with regards to"},{"speaker":"Irza - AIBP","startTime":1556.25,"endTime":1559.28,"body":"conversions, whether it actually"},{"speaker":"Irza - AIBP","startTime":1559.28,"endTime":1562.94,"body":"drives more usage within the"},{"speaker":"Irza - AIBP","startTime":1559.28,"endTime":1562.94,"body":"ecosystem, whether customers are"},{"speaker":"Irza - AIBP","startTime":1562.94,"endTime":1565.64,"body":"stickier as well. And this is"},{"speaker":"Irza - AIBP","startTime":1562.94,"endTime":1565.64,"body":"the data that will be shared"},{"speaker":"Irza - AIBP","startTime":1565.64,"endTime":1567.86,"body":"between nexus and Bukalapak, as"},{"speaker":"Irza - AIBP","startTime":1565.64,"endTime":1567.86,"body":"well?"},{"speaker":"Kelvin - SC nexus","startTime":1571.16,"endTime":1573.65,"body":"Depending on"},{"speaker":"Kelvin - SC nexus","startTime":1571.16,"endTime":1573.65,"body":"regulatory approval. So for each"},{"speaker":"Kelvin - SC nexus","startTime":1573.65,"endTime":1577.94,"body":"use case, where the partner's"},{"speaker":"Kelvin - SC nexus","startTime":1573.65,"endTime":1577.94,"body":"data is with us is generally"},{"speaker":"Kelvin - SC nexus","startTime":1577.94,"endTime":1580.85,"body":"easier, to reshare data back"},{"speaker":"Kelvin - SC nexus","startTime":1577.94,"endTime":1580.85,"body":"with the partner, each used case"},{"speaker":"Kelvin - SC nexus","startTime":1580.85,"endTime":1583.16,"body":"has to be defined, and has to go"},{"speaker":"Kelvin - SC nexus","startTime":1580.85,"endTime":1583.16,"body":"to the regulator for approval."},{"speaker":"Irza - AIBP","startTime":1583.16,"endTime":1585.77,"body":"Understood, of"},{"speaker":"Irza - AIBP","startTime":1583.16,"endTime":1585.77,"body":"course. Your regulators are bit"},{"speaker":"Irza - AIBP","startTime":1585.77,"endTime":1589.55,"body":"stickier than most. Okay."},{"speaker":"Irza - AIBP","startTime":1585.77,"endTime":1589.55,"body":"Kelvin, before I let you go,"},{"speaker":"Irza - AIBP","startTime":1589.97,"endTime":1592.16,"body":"we've spoken about banking,"},{"speaker":"Irza - AIBP","startTime":1589.97,"endTime":1592.16,"body":"we've spoken about financial"},{"speaker":"Irza - AIBP","startTime":1592.16,"endTime":1596.51,"body":"services, digital companies in"},{"speaker":"Irza - AIBP","startTime":1592.16,"endTime":1596.51,"body":"this part of the world. One"},{"speaker":"Irza - AIBP","startTime":1596.51,"endTime":1599.06,"body":"question I asked all my guests"},{"speaker":"Irza - AIBP","startTime":1596.51,"endTime":1599.06,"body":"before they leave is, outside of"},{"speaker":"Irza - AIBP","startTime":1599.06,"endTime":1603.56,"body":"your own industry, within"},{"speaker":"Irza - AIBP","startTime":1599.06,"endTime":1603.56,"body":"Southeast Asia, what are the"},{"speaker":"Irza - AIBP","startTime":1603.56,"endTime":1606.23,"body":"things that you're excited about"},{"speaker":"Irza - AIBP","startTime":1603.56,"endTime":1606.23,"body":"when it comes to growth in this"},{"speaker":"Irza - AIBP","startTime":1606.23,"endTime":1606.95,"body":"part of the world?"},{"speaker":"Kelvin - SC nexus","startTime":1608.91,"endTime":1610.8,"body":"I mean, the"},{"speaker":"Kelvin - SC nexus","startTime":1608.91,"endTime":1610.8,"body":"pure untapped potential of the"},{"speaker":"Kelvin - SC nexus","startTime":1610.8,"endTime":1613.65,"body":"Southeast Asian combined market,"},{"speaker":"Kelvin - SC nexus","startTime":1610.8,"endTime":1613.65,"body":"right? I mean, I think we've"},{"speaker":"Kelvin - SC nexus","startTime":1613.65,"endTime":1616.11,"body":"only barely scratched the"},{"speaker":"Kelvin - SC nexus","startTime":1613.65,"endTime":1616.11,"body":"surface of what is possible."},{"speaker":"Kelvin - SC nexus","startTime":1616.41,"endTime":1621.99,"body":"There is a significant segment"},{"speaker":"Kelvin - SC nexus","startTime":1616.41,"endTime":1621.99,"body":"of individuals who are not yet,"},{"speaker":"Kelvin - SC nexus","startTime":1623.13,"endTime":1625.44,"body":"I guess, middle class from that"},{"speaker":"Kelvin - SC nexus","startTime":1623.13,"endTime":1625.44,"body":"perspective, and emerging middle"},{"speaker":"Kelvin - SC nexus","startTime":1625.44,"endTime":1630.48,"body":"class. So pretty much anything"},{"speaker":"Kelvin - SC nexus","startTime":1625.44,"endTime":1630.48,"body":"can be scaled: e-commerce,"},{"speaker":"Kelvin - SC nexus","startTime":1630.72,"endTime":1635.46,"body":"banking and financial services,"},{"speaker":"Kelvin - SC nexus","startTime":1630.72,"endTime":1635.46,"body":"transport, travel. I don't know,"},{"speaker":"Kelvin - SC nexus","startTime":1635.46,"endTime":1638.67,"body":"man, but personally, I'm 100%"},{"speaker":"Kelvin - SC nexus","startTime":1635.46,"endTime":1638.67,"body":"focused on this"},{"speaker":"Kelvin - SC nexus","startTime":1638.7,"endTime":1642.33,"body":"banking-as-a-service, embedded"},{"speaker":"Kelvin - SC nexus","startTime":1638.7,"endTime":1642.33,"body":"finance, conversation, and we"},{"speaker":"Kelvin - SC nexus","startTime":1642.54,"endTime":1646.68,"body":"see this take off in multiple"},{"speaker":"Kelvin - SC nexus","startTime":1642.54,"endTime":1646.68,"body":"places - in Europe and the US"},{"speaker":"Kelvin - SC nexus","startTime":1646.71,"endTime":1649.98,"body":"and all of that. So within"},{"speaker":"Kelvin - SC nexus","startTime":1646.71,"endTime":1649.98,"body":"Southeast Asia, I don't know,"},{"speaker":"Kelvin - SC nexus","startTime":1649.98,"endTime":1652.5,"body":"I've not spent too much time"},{"speaker":"Kelvin - SC nexus","startTime":1649.98,"endTime":1652.5,"body":"looking outside, to be honest. I"},{"speaker":"Kelvin - SC nexus","startTime":1652.5,"endTime":1658.95,"body":"do try to pretend that I'm well"},{"speaker":"Kelvin - SC nexus","startTime":1652.5,"endTime":1658.95,"body":"knowledgeable in things outside"},{"speaker":"Kelvin - SC nexus","startTime":1658.95,"endTime":1663.48,"body":"of my center of work. But yeah,"},{"speaker":"Kelvin - SC nexus","startTime":1658.95,"endTime":1663.48,"body":"I mean, I would love to see the"},{"speaker":"Kelvin - SC nexus","startTime":1663.48,"endTime":1667.47,"body":"region grow as a whole, despite"},{"speaker":"Kelvin - SC nexus","startTime":1663.48,"endTime":1667.47,"body":"the fragmentation of nation"},{"speaker":"Kelvin - SC nexus","startTime":1667.47,"endTime":1671.64,"body":"states, right. So yeah, I don't,"},{"speaker":"Kelvin - SC nexus","startTime":1667.47,"endTime":1671.64,"body":"I have no specific interests."},{"speaker":"Irza - AIBP","startTime":1672.0,"endTime":1674.134,"body":"Great point,"},{"speaker":"Irza - AIBP","startTime":1672.0,"endTime":1674.134,"body":"because I think banking"},{"speaker":"Irza - AIBP","startTime":1674.194,"endTime":1677.514,"body":"underlies most economic"},{"speaker":"Irza - AIBP","startTime":1674.194,"endTime":1677.514,"body":"transactions, right. And I think"},{"speaker":"Irza - AIBP","startTime":1677.574,"endTime":1681.013,"body":"over the last few months, you've"},{"speaker":"Irza - AIBP","startTime":1677.574,"endTime":1681.013,"body":"seen a lot of interest in"},{"speaker":"Irza - AIBP","startTime":1681.072,"endTime":1684.631,"body":"Southeast Asia with the Grab"},{"speaker":"Irza - AIBP","startTime":1681.072,"endTime":1684.631,"body":"IPO, the GoTo IPO, Bukalapak as"},{"speaker":"Irza - AIBP","startTime":1684.69,"endTime":1688.011,"body":"well last year. So hopefully"},{"speaker":"Irza - AIBP","startTime":1684.69,"endTime":1688.011,"body":"we'll see a nexus IPO maybe"},{"speaker":"Irza - AIBP","startTime":1688.07,"endTime":1691.272,"body":"sometime, and hopefully in"},{"speaker":"Irza - AIBP","startTime":1688.07,"endTime":1691.272,"body":"Southeast Asia as well. And"},{"speaker":"Irza - AIBP","startTime":1691.331,"endTime":1694.89,"body":"hopefully, your stock price"},{"speaker":"Irza - AIBP","startTime":1691.331,"endTime":1694.89,"body":"performance doesn't mirror Grab."},{"speaker":"Kelvin - SC nexus","startTime":1694.0,"endTime":1699.19,"body":"Well, nexus"},{"speaker":"Kelvin - SC nexus","startTime":1694.0,"endTime":1699.19,"body":"won't IPO right, because nexus"},{"speaker":"Kelvin - SC nexus","startTime":1699.19,"endTime":1701.59,"body":"is a business division within"},{"speaker":"Kelvin - SC nexus","startTime":1699.19,"endTime":1701.59,"body":"the bank. But the spin off, at"},{"speaker":"Kelvin - SC nexus","startTime":1701.59,"endTime":1704.23,"body":"the point at which we do it,"},{"speaker":"Kelvin - SC nexus","startTime":1701.59,"endTime":1704.23,"body":"we'll have a conversation around"},{"speaker":"Kelvin - SC nexus","startTime":1704.23,"endTime":1704.74,"body":"that. Yes."},{"speaker":"Irza - AIBP","startTime":1705.07,"endTime":1707.5,"body":"Perfect. Okay."},{"speaker":"Irza - AIBP","startTime":1705.07,"endTime":1707.5,"body":"Thank you very much, Kelvin for"},{"speaker":"Irza - AIBP","startTime":1707.5,"endTime":1712.9,"body":"joining us today. We will put"},{"speaker":"Irza - AIBP","startTime":1707.5,"endTime":1712.9,"body":"down Kelvin's details in the"},{"speaker":"Irza - AIBP","startTime":1712.96,"endTime":1716.41,"body":"description box. So if you have"},{"speaker":"Irza - AIBP","startTime":1712.96,"endTime":1716.41,"body":"any questions with regards to"},{"speaker":"Irza - AIBP","startTime":1716.92,"endTime":1720.4,"body":"Standard Chartered or especially"},{"speaker":"Irza - AIBP","startTime":1716.92,"endTime":1720.4,"body":"nexus, banking-as-a-service"},{"speaker":"Irza - AIBP","startTime":1720.43,"endTime":1723.64,"body":"platform, you can reach out to"},{"speaker":"Irza - AIBP","startTime":1720.43,"endTime":1723.64,"body":"him and his team. Thanks Kelvin,"},{"speaker":"Irza - AIBP","startTime":1723.64,"endTime":1725.23,"body":"and we hope to speak with you"},{"speaker":"Irza - AIBP","startTime":1723.64,"endTime":1725.23,"body":"again soon."},{"speaker":"Kelvin - SC nexus","startTime":1726.22,"endTime":1727.57,"body":"Thanks Irza,"},{"speaker":"Kelvin - SC nexus","startTime":1726.22,"endTime":1727.57,"body":"pleasure."}]}