December, 20218 Jon FordSuper apps have become more than just a buzzword. In China, WeChat and Alipay are already deeply rooted in the daily lives of the population. In South East Asia, ride-share platforms Go-Jek and Grab have also become super apps, offering a host of services from food delivery to medical advice within their apps.A KPMG report - Super app or super disruption - points to an evolution in consumer preferences: "Our research and experience suggest that, after nearly a decade of fragmentation and unbundling of services in their lives, consumers are starting to revert towards re-bundling". "Instead of having multiple apps for ordering food, ride-sharing and payment options, they want just one. Consumers may not be specifically demanding super apps, but they certainly want the convenience and simplicity that super apps can offer". Digital ecosystems, such as these super apps, will continue to blur the borders between industry sectors. The focus is no longer on staying within these verticals, but rather on providing customers with a one-stop shopping, hyper-relevant experience. The telecommunications industry is primed for robust ecosystems or super apps to be created around its rich customer database. With the arrival of 5G networks and the Internet of Things, telcos are the ideal focal point for which a wide range of products and services can be built. IBM's AI and Blockchain Lead, Center of Competence - Telco, Media and Entertainment, Lucia Marchi, identified that one of the imperatives in the evolution of the telco industry is cooperation with traditional and new competitors, as well as other organisations, to innovate and generate new business opportunities within an ecosystem. Still, none of today's top 10 ecosystems in South-east Asia is a telecommunications player. While the large, established telecommunication players in the region have yet to establish themselves within an ecosystem specific to their industry, new players such as Circles. Life and UMobile ARE TELCOS TOO LATE TO THE GAME? BY JON FORD, REGIONAL HEAD OF PARTNERSHIP DISTRIBUTION, CHUBB ASIA PACIFICIN MYV EW
< Page 7 | Page 9 >