Nanfang College, Guangzhou welcomed Professor Colin Dodds, former President and current President Emeritus of Saint Mary’s University (Canada), Professor of Finance at the Sobey School of Business and former member of the Board of Directors of the Bank of Canada on the afternoon of April 2 as the keynote speaker for a lecture titled "The Future of Banking in a Changing World: Evolution or Revolution?" chaired by Professor Zhang Mingyuan, Presidential Advisor and Dean of the School of Liberal Arts. Over 300 attendees including faculty, administrative leaders and students participated.
Professor Zhang Mingyuan extended a warm welcome in the opening remarks to Professor Dodds, whose distinguished contributions to the field of finance had long been appreciated. He noted that Professor Dodds’ ties with China could date back to the early days of Reform and Opening-up in the 1980s, where he had collaborated with institutes including the University of International Business and Economics, Beijing Normal University and Xiamen University, and had carried out his role in leading the establishment of the Confucius Institute at Saint Mary’s University. Professor Zhang emphasized the timely relevance of this lecture on the finance area and expressed hope that attendees would gain valuable insights from within.
Professor Dodds thanked the college for the invitation and reflected on his early teaching experiences in Zhuhai and Xiamen, when cash still dominated social transactions. He contrasted this sometime reality with today’s digital transformation, where mobile payment platforms—driven by internet penetration and Fintech advancements—have redefined consumer behavior and made financial services more efficient and inclusive.
He further underscored how cutting-edge technologies like AI and big data had empowered the rise of firms such as Tencent and Alibaba, leveraging their vast user bases to create integrated platforms for various daily needs and provide personalized financial services. However, Professor Dodds cautioned that Fintech’s rapid growth has disrupted traditional banking, pressuring deposit growth due to competition from high-yield online wealth management products. Evolving regulations and shifting customer demands, he argued, compel banks worldwide to rethink their strategies.
On the future of banking, Professor Dodds observed that institutions in China, Canada, the U.K. and the U.S. are actively adopting Fintech to enhance efficiency and reduce costs. Yet radical revolution remains plausible, particularly with emerging technologies like blockchain and digital currencies, which could redefine cross-border payments and settlement systems.
The Q&A session saw lively engagement, with students and faculty probing AI’s impact on banking, balancing innovation with risk in digital transformation and regulatory adaptation. Professor Dodds responded with global case studies, offering nuanced perspectives that broadened attendees’ understanding to contemporary finance.
Professor Zhang presented Professor Dodds with a Cantonese embroidery artwork depicting kapok flowers (Bombax ceiba) to conclude the lecture, symbolizing gratitude for the enlightening discussion.
Student feedback highlighted the lecture’s impact. Luo Zicheng, a 2023 Data Science and Big Data Technology major, remarked, “Professor Dodds’ insights clarified the trajectory of banking and underscored Fintech’s transformative role. I’ll now prioritize tracking Fintech developments to sharpen my expertise.”
Kuang Shimin, a 2023 Public Administration major, added, “The lecture revealed both challenges and opportunities in banking’s evolution. As technology reshapes the sector, its future direction demands our ongoing attention.”
This event exemplifies Nanfang College, Guangzhou’s commitment to fostering global perspectives and innovation. Through initiatives like the Forum, the college integrates liberal arts education with expert-led discourse, cultivating a dynamic academic environment. Moving forward, NCG will continue its mission to develop well-rounded talents capable of contributing to national rejuvenation.
