bis central bankers'speeches natcatdax ), also led by icrm, that is already utilising these new methodologies to bridge the data gap in asia. the asean platform, will build on natcatdax ’ s efforts in thailand, indonesia and philippines, and extend the coverage to other countries to further enhance data availability in asean. 18. second, risk advisory. on the demand side, asean member states have varied needs, due to differences in economic assets, population size, types of hazards and exposures faced, and the stage of development of their respective disaster risk financing strategies and markets. on the supply side, there is a wide range of disaster financing solutions such as insurance, reinsurance, index - based products, parametric covers, insurance - linked securities ( ils ) and regional pools ; and many solution providers, ranging from private insurance and insurance - linked securities markets, multilateral development banks, and international organisations. adrfi can connect both sides together, and play the role of analysing countries ’ needs, harnessing risk advisory expertise of stakeholders, and structuring optimal and cost effective disaster risk financing strategies under this risk advisory pillar ; and 1 9. third, capacity building. this pillar will focus on enhancing knowledge of disaster risk financing strategies and solutions, and equip policy makers with a good understanding of regulatory, legal, administrative and technology pre - conditions to deploy effective disaster risk financing solutions. asean secretariat will work with knowledge partners such as the world bank, asian development bank, insurance development forum 4 and the insurance industry to develop and implement a 3 - year training road map to address asean ’ s knowledge gaps. 20. by forging public - private partnerships amongst various stakeholders including policymakers, international organisations and the private sector, adrfi will play a key role in forging a robust and comprehensive disaster risk financing strategy in the region. this will help to strengthen asean ’ s disaster risk resilience, and move our economies onto a sustainable and inclusive growth path. conclusion 21. in conclusion, climate change and natural catastrophes are clear and present dangers in asean. we must act quickly to fortify our economies by adopting a comprehensive disaster risk financing strategy. this is a complex undertaking, but we can solve this together through regional collaboration and knowledge sharing. adrfi phase 2, providing a focal point for regional cooperation in disaster risk financing, marks a significant milestone in our journey towards enhancing asean ’ s disaster risk resilience. 22

persuade the customer why their product is good for him. 2 / 10 bis central bankers'speeches many banks do not have a complete picture of their customers. they are weighed down by legacy it systems and bureaucratic processes. but several banks are stepping up to the challenge. athos is learning from porthos. banks are investing heavily in technology to optimise their operations and enhance their systems. they are collaborating with technology firms to accelerate the pace of innovation. they are becoming more customer - centric. these banks are using technology to provide customised solutions, complete solutions, and seamless solutions. first, customised solutions to suit the individual needs and characteristics of the customer. some banks are experimenting with personalised products and services, not just based on what the customer asks for but by anticipating what the customer might need. commonwealth bank of australia ’ s mobile app is using behavioural science to provide customers with financial management advice based on their spending patterns and financial goals. some banks are offering personalised interactions at every customer touchpoint. royal bank of canada has enabled its customers to pay their bills on the mobile app via speech and voice recognition. second, complete solutions that are based on the total picture of the customer. today ’ s customers are more sophisticated and want holistic solutions. in a survey of 10, 000 tech - savvy customers, accenture found that 80 % of them want integrated solutions that address both their financial and non - financial needs. financial needs are really driven by non - financial desires. people do not desire a housing loan or a fire insurance policy. people desire a house. to provide complete, holistic solutions, you need comprehensive customer data and you need a deep understanding of the customer journey. t h e customer data that most banks have are simply not sufficient to develop a good understanding of the financial situation or needs of their customers. customers have multiple relationships, with deposits and loans, investments, insurance policies, and retirement plans, spread across many financial institutions. how many financial institutions advising a customer have a complete picture of the customer ’ s balance sheet – all his assets and liabilities? some banks have started to offer aggregator services which consolidate financial information such as bank accounts, credit cards, loans, and investments from all the financial institutions serving their customers. this allows financial institutions to provide holistic financial planning. bbva provides its corporate customers with a consolidated view of all their financial information from about 90 financial institutions. 3 / 10 bis central bankers'speeches next,