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VMware empowers financial service providers

VMware Philippines is committed to accelerating the innovation and transformation of financial services organizations as they strengthen their digital relationship with their customers, according to country manager Walter So.

Based on a survey conducted by the cloud-computing company, more than half, or 55 percent of Filipino consumers, prefer to engage digitally through applications rather than visiting in person at a branch.

The study also found that consumers place high trust in technologies of the future including artificial intelligence with 75 percent, 5G with 85 percent and facial recognition with 78 percent.

“There is a need for digital acceleration. They [Filipino consumers] are really leaning towards transacting digitally. That is really the core that VMware does—we provide a standardized foundation to help our clients accelerate their innovation,” So said.

“It is a really interesting world where there is a lot of digital transactions and VMware is really positioned to be able to help accelerate that transformation, but at the same time provide a consistent experience and the same time provide control,” he said.

As technologies show promise in the future of the financial ecosystem, there are still concerns on security and trust, as 83 percent of the surveyed consider security as the top priority when choosing a financial services provider.

Meanwhile, 56 percent of Filipino consumers expressed worry or fear of being tracked and recorded through their devices.

So emphasized that VMware would always ensure security and focus on gaining the trust of Filipino consumers as the country continues to build a trusted and inclusive financial ecosystem.

“We have this intrinsic security. One of the things that is innate in VMware is that, when we build our portfolio and we build our solutions, we put security in mind as we engineer it,” So said.

“To help ensure clients, there is built-in security within our foundation, within our solutions, that our clients use. Therefore, ensuring that there’s a very good level of cybersecurity that prevents threats from getting into our system and therefore getting into the data,” he said.

This year, the leading innovator in enterprise software focuses on important priorities such as prioritizing a multi-cloud and app-led ecosystem, driving connectivity and innovation in a distributed work environment and ensuring intrinsic security across platforms which will bolster the transformation of the country’s innovation-led financial system.

Topics: VMWare Philippines , financial services , Walter So
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