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The world’s economies have been hit hard; many economists have cut their GDP forecasts and a number of experts are predicting the potential onset of recessionary environments. That said, I also expect to see weaker earnings and therefore a hole in the banks’ balance sheets, at least in the short term.

«The current levels of digital activity and adoption rates of online services make me optimistic»

But Singapore is a strong financial hub. And the current levels of digital activity and adoption rates of online services make me optimistic that financial institutions will seize new opportunities to enable meaningful change and a strong future. And who knows how much the crisis situation also creates a power shift towards the east in the long run, which would be highly beneficial for Singapore as well.

What are the firm's priorities for the near future?

Asia-Pacific is one of Crealogix's strategic key markets. We are making significant investments in the business to strengthen and grow the local organization on a sustainable basis with the target of opening up new markets and winning new customer logos for the firm.

Together with our partner network, we will continue to address the growing demand for digital products across the different banking segments in some of the most digital-savvy societies in the world – not only in wealth management but also corporate/SME and retail banking.

Karsten Kemna is the managing director of Crealogix Asia, responsible for the strategic development of Crealogix in this growth market. Previously, he spent most of his career at Diebold Nixdorf (formerly Wincor Nixdorf), an IT solution provider for banks, in sales positions and as the leader of the company’s banking division in Asia Pacific. During this time he helped Nixdorf to achieve a significant market position through increased sales while at the same time diversifying the business towards software and services. Most recently, Kemna was managing director of software company ERI Bancaire in Asia-Pacific.