In a landmark collaboration, NEC has joined forces with Avaloq and BlackRock to revolutionize the asset management landscape with “Embedded Finance”. This concept is set to give consumers seamless access to a diverse range of financial services right within their applications, providing an elevated, convenient way of managing financial activities. Tapping into blockchain technology for its Financial-Service-as-a-Platform, this initiative will redefine how people engage with their financial transactions.
Introduction to Embedded Finance and Fintech Growth
For the uninitiated, “Embedded Finance” refers to consumers’ ability to access various financial services like payments, loans, insurance, and investments without having to leave the platform or application they’re using. NEC Corporation (Thailand) Ltd‘s President, Mr. Ichiro Kurihara, painted a future-forward picture of fintech, despite slower global investment due to economic downturns. He emphasized the long-term growth trajectory of fintech, especially in the Asia region, indicating a bright future for online financial services.
NEC’s Wealth Management Solutions and Other Services
One key outcome of the NEC, Avaloq, and BlackRock collaboration is a dashboard for efficient asset management, allowing customers to make informed portfolio decisions. In the mix of NEC’s offerings are also the Wealth Management Solutions by Avaloq and the Sales Engagement Module, an online conversation enhancer for consultants and clients. For institutions not providing Wealth Management services, NEC offers a system for streamlining sales presentations and marketing, enhancing customer database management. A universal lending platform, designed to simplify the entire loan application and management processes, will also be part of NEC’s solutions suite.
About NEC Corporation: A Journey in Thailand
NEC Corporation (Thailand) Ltd was established in 2003, but NEC’s activity in Thailand dates back to 1962. Throughout its journey in the country, the brand has consistently provided professional IT consultancy, superior service, and support across numerous industries. Its commitment to help local financial institutions embrace digital transformations positions it as a catalyst for future fintech growth in Thailand.
In conclusion, NEC’s embrace of Embedded Finance and its collaboration with Avaloq and BlackRock make it a company to watch in the fintech space. By prioritizing effective wealth management, customer service, and financial inclusion, NEC is setting new standards in financial technology and consumer experience. Their commitment to digital transformation, coupled with the growing online financial service market in Asia, signals exciting times ahead for this sector.
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