Kelvin Tan, CEO of audax 
Kelvin Tan, CEO of audax, joined the podcast at Money20/20 to discuss the company’s mission and progress. He explained that audax was created in anticipation of mounting pressures on banks’ return on equity and the need for scalable platforms. Originally built as a ‘bank-in-a-box’ for Standard Chartered, the platform has since been commercialised for use by banks globally. It enables them to adopt new digital, embedded finance, and super app business models, thereby improving scalability and profitability.
Having already deployed the platform in two markets for Standard Chartered, audax benefits from its proven effectiveness and regulatory compliance, which has bolstered global client interest. Tan highlighted audax’s contribution to financial inclusion by supporting banks—such as Standard Chartered, Maybank, and Riyad Bank—in delivering services to underserved populations in regions including Asia and the GCC.
audax also acts as a connector for third-party capabilities, positioning itself as a centralised hub for financial service technologies. Interestingly, the company has organically become a preferred platform for digital Islamic banking, with clients like Maybank Islamic and Riyad Bank. Tan emphasised that, although audax did not initially focus on this area, it now plays a growing role in supporting ethical finance through Islamic banking.
Looking ahead, Tan believes digital banking in Asia is still in its infancy. He argued that with the right platform and data strategy, banks could evolve into central data hubs within national economies. However, he noted that internal politics, vision, and willpower remain the primary barriers to this transformation.
Rottapron Ekabutr, Head of Digital and Innovation at Krungsri Bank 
Rottapron Ekabutr, Head of Digital and Innovation at Krungsri Bank, discussed the bank’s response to Thailand’s rapidly shifting digital landscape. With over 90% of transactions now digital and internet users spending just 1% of their time on financial apps, Krungsri is embedding financial services into other ecosystems through open banking and APIs. The bank has developed over 750 APIs and processed 80 million transactions last year, offering services like payments, lending, KYC, and cross-border transfers directly within platforms like e-commerce and ride-hailing.
He emphasised that digital innovation isn’t just about technology, but about building a culture of innovation — including launching Krungsri Finnovate to partner with and invest in startups. These efforts support both customer convenience and financial inclusion by using alternative data to reach underserved groups such as small merchants and gig workers. Looking ahead, Rottapron sees open data, embedded finance, and the rise of virtual banks as key trends shaping the future of banking in Thailand and across Southeast Asia.
Lito Villanueva, Chief Innovations and Inclusion Officer at RCBC 
Lito Villanueva, Chief Innovations and Inclusion Officer at RCBC, shared how the bank has rapidly climbed from ninth to fifth among the Philippines’ largest private banks—driven by its digital transformation. With a strong focus on customer experience and inclusion, RCBC has received multiple awards for its digital leadership. Lito also highlighted the bank’s commitment to sustainability, including its pledge to end coal financing by 2033 and align with ESG and SDG goals.
He sees AI as a game-changer for banking, enhancing efficiency, transparency, and customer experience—but stressed the need for ethical use and principles-based regulation. RCBC’s strategy blends physical and digital services (“phygital”), ensuring reach even in remote areas through mobile-based ATMs, which now cover nearly the entire country. These tools support financial inclusion by enabling services for non-RCBC customers, especially in underserved communities. Villanueva underlined that successful digital transformation depends on mindset, culture, and long-term vision.
Shailesh Baidwan, Group President and Co-Founder of Maya Bank 
Shailesh Baidwan, Group President and Co-Founder of Maya Bank, shared how the company evolved from a payments platform into the Philippines’ leading digital bank. Initially focused on wallets and merchant services, Maya expanded into banking to address the country’s financial inclusion gap—where half the population lacks a basic bank account. With over seven million customers, Maya now offers a full suite of services, including savings, credit, investments, and payments.
He highlighted the Philippines as a young, mobile-native market with big opportunities but also challenges like limited credit history and weak national ID infrastructure. Maya tackled this by building a custom tech stack and one of the largest AI teams in the country. This allows them to personalise services through in-house tools like credit scoring and fraud detection based on proprietary customer data.
Baidwan emphasized the importance of offering not just access, but meaningful financial inclusion—helping users save, invest, and grow. Looking ahead, he sees success in becoming the primary financial account for individuals and small businesses, with data-driven services tailored for long-term relationships.
Dr. Yew Choong Chew, Chief Data and AI Officer at Ambank Group 
Dr. Yew Choong Chew, Chief Data and AI Officer at Ambank Group, spoke about the bank’s digital transformation journey. Under new leadership, Ambank is leveraging modern technologies and upskilling its workforce to stay relevant and better serve a new generation of customers. A key initiative is its partnership with 42 Malaysia, an innovative, peer-to-peer learning institution. Together, they’re launching a hackathon to solve real-world banking challenges, aiming to support talent development and drive practical innovation.
Dr. Chew also discussed how Ambank is using AI and machine learning to enhance fraud detection. With vast volumes of data, traditional methods fall short, so the bank uses advanced algorithms to identify unusual patterns and detect threats in real time. He emphasised that all banks today are digital to some degree — and with decades of customer data, Ambank is focusing on governance, data quality, and analytics to unlock new insights and ensure inclusive, secure digital banking.
