Traditional commercial banks are undergoing a significant transformation, focusing on expanded infrastructure and integrated enterprise operating systems with AI instead of just providing financial products.
The current trend of public finance is gradually shifting towards the agency finance model, where banks are supported by Blockchain and AI technology to enhance efficiency, security, and scalability of services.
MAIN CONTENT
Traditional banking is redefined through expanded infrastructure systems and AI.
Agency finance is becoming a new trend replacing traditional finance.
Airwallex is enhancing the development of stablecoin infrastructure with a team of Blockchain experts.
How has traditional banking been redefined?
Jack Zhang – CEO of Airwallex stated that traditional commercial banks are no longer just focused on financial products but have shifted to developing expanded infrastructure, enterprise operating systems, and smart operations using AI.
This statement was made on social media X in July 2024, reflecting the trend of modern digital banking, containing deep integration with AI technology to enhance operational automation. According to the World Bank report 2023, banks applying AI and digital platforms can reduce operating costs by up to 30% and improve transaction accuracy by 25%.
"Traditional finance is gradually ending the era of product monopoly, paving the way for the agency finance model supported by systems and AI."
Jack Zhang, CEO of Airwallex, July 2024
What is agency finance and why is it becoming the future?
Agency finance is a model where institutions do not directly provide financial products but operate through systems that help banks and other financial organizations leverage digital infrastructure, AI, and Blockchain to serve customers more effectively.
Airwallex and many other organizations predict that agency finance will replace the traditional model thanks to better scalability and increased flexibility. A report from Deloitte (2023) indicates that the agency finance model improves customer experience by up to 40% through automation and service personalization.
What is Airwallex doing to develop stablecoin infrastructure?
Airwallex is recruiting for the position of stablecoin team lead, requiring experience in Blockchain system integration and knowledge of security architecture and digital asset management. This is an important step for the company to build a stable, secure stablecoin infrastructure.
The recruitment information just announced has expanded for personnel in Singapore, Hong Kong, and surrounding areas, demonstrating Airwallex's determination to develop a DeFi ecosystem combined with the traditional financial system.
"Investing in the development of stablecoins demonstrates Airwallex's long-term vision in building a new financial platform that is not only technology-based but also safe and transparent."
Jack Zhang, CEO of Airwallex, 2024
What are the benefits when banks shift towards agency finance and stablecoin platforms?
This transition helps increase scalability, reduce operating costs, and enhance security, especially when applying stablecoins that facilitate faster and more transparent payments through Blockchain.
Criteria Traditional Finance Agency Finance & Stablecoin Focus Financial Products Expanded Infrastructure & AI Scalability Limited by centralized model High due to Blockchain technology, AI Security Dependent on internal processes Encrypted data, digital protection Operating Costs High due to manual management Reduced thanks to automation, smart contracts Payments Slow, dependent on intermediary systems Fast, transparent with stablecoins
Frequently Asked Questions
1. How is agency finance different from traditional banking?
Agency finance focuses on developing technology infrastructure and automated operations, reducing dependence on traditional financial products.
2. Where does Airwallex prioritize recruiting stablecoin engineers?
Airwallex focuses its recruitment in Singapore, Hong Kong, and surrounding areas with experience in Blockchain and digital asset security.
3. What are the benefits of implementing stablecoins in finance?
Stablecoins enable fast payments, high security, and transparency thanks to Blockchain technology.
4. What role does AI play in the new traditional banking?
AI replaces manual operations, increases accuracy, and automates banking operational processes.
5. Which reports prove the effectiveness of agency finance?
Deloitte 2023 and World Bank 2023 provide real data showing cost reduction efficiency and improved customer experience.
Source: https://tintucbitcoin.com/ceo-airwallex-agency-tai-chinh-thay-the-truyen-thong/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
