'The hope that technology will drive future growth is probably overblown. Technology is replacing things... it is important as part of restructuring and driving the growth agenda within sectors and companies.'

Speaking at the Citywire Asia Retreat in Bangkok, Martin Schulz, senior economist at the Fujitsu Research Institute, discussed where financial services lie in the spectrum of digitalisation and the key impediment to further innovation.

He also revealed an emerging opportunity from the digital wave for investors in Asia.