ASIA needs . This presents a situation where one could argue that there is no need for technology when the process is smoothly in place .
“ The problem then becomes a matter of “ you don ’ t know what you don ’ t know ”, someone from the blind spot may be able to utilise big data or AI and creating a much clearer understanding of your clients ,” says Fung . “ Because they have such a deep understanding of your client , then they could completely take over your business and put you out of the game .”
As technology has continued to transform the industry , dictating the direction and strategic thinking or organisations such as Noah Holdings , how has the customer changed with it ? With more and more technology advancements , providing more power to the customer , how has this changed the way in which Noah must respond to customers ?
“ Clients have been exposed to more and more technology in recent years and so they are now demanding more technology touch points and more convenient and direct interaction with us ,” says Fung .
“ In fact , what this has done is enable the conversation surrounding technology to happen more frequently and to be more informed . Now , when we discuss technology , the expectation is much more realistic – we understand what technology can and cannot do in terms of supporting clients . As those clients have changed , it ’ s definitely helped educate us as a business much quicker .”
Now in the second year of this digital strategy , Fung can already begin to look back on key successes achieved along the way . One of the biggest changes has been one of its strategy focus , in which Noah Holdings places greater emphasis on leveraging technology in delivering client impact . One such example is the role of Chief Digital Officer itself .
“ We may be the only one in the industry to have a Chief Digital Officer ,” he says . “ and the key here is how Noah enables this role to introduce innovation like robo advisory and big data .” In just one short year , Fung has
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