Managing Director & Partner
Jungkiu Choi is a member of the Financial Institutions practice at Boston Consulting Group, specializing in strategy, transformation, business development/M&A/PMI, sales force productivity, and operations improvements. He leads marketing for the firm in Southeast Asia. Recently, Jungkiu has been focusing on digital banking/challenger bank build, coalition loyalty, bank tech/digital transformation, corporate governance/conglomerate strategy, and executive coaching/development.
He has built a number of digital banking channels and digital challenger banks as well as coalition loyalty programs in Korea, Indonesia, Vietnam, Singapore, and Southeast Asia; and has led numerous bank tech/digital transformations, and built conglomerate digital ecosystems across Greater China and Southeast Asia.
Prior to joining BCG, Jungkiu worked as Director of Corporate Strategy and Management Development at NURI Management; Head of Financial Institutions Practice Asia Pacific at Kearney; and Group Head of Strategy/Business Development/Reengineering at Standard Chartered Bank.
Many of the missteps that banks make can be avoided by building their digital transformation programs around a full front-to-back approach focused on customer value streams.
Despite rapid growth, the route to profitability remains challenging for operators.
The digital banking space in APAC continues to witness growing interest and is home to 20% of the global digital challenger banks. There are five key markets in Southeast Asia, alongside India, which offer potentially fertile ground for growth, framed by positive market moves and encouraging demographics.
Engaging modern customers by effectively utilizing data is a key challenge for marketing and digital leaders today. Organizations can address this by building maturity on Data Led Customer Engagement. BCG, in collaboration with Capillary Technologies, has created a comprehensive Stop Hold Purchase (SHoP) framework and maturity assessment toolkit that was administered to over 100 consumer facing companies. This report highlights the key learnings from the exercise and can be leveraged for building advanced customer engagement capabilities at organizations.
Southeast Asia presents a remarkable opportunity for digital banking over the coming years. Yet despite this landscape of opportunity, profitability remains a major challenge for digital banks.
There are three defining characteristics of the Singapore FinTech ecosystem. In this report, Pauline Wray collaborates with SFA to produce a "Digital Challenger Banks“ reference guide, to help navigate the exciting and dynamic Digital Challenger Banks landscape in Singapore and the region.