12th Middle East Retail Banking Confex kicks off Industry experts gather to discuss business strategies in the age of digital revolution
Dubai, April 4, 2017 – The 12th annual edition of Middle East Retail Banking Confex opened its doors today at The Le Meridien Dubai Hotel with the participation of over 200 delegates attending to hear what more than 20 experts in the field have to say about retail digital transformation, analytics, customer experience, Blockchain, Artificial intelligence and much more. This gathering brings together the leading Regional and International Retail Banks to tackle the latest innovations and best offerings in financial services technology and to discuss the most sensitive issues surrounding the Retail Banking sector in the region.
This year’s event features top industry minds and expert speakers from Regional and International Banks such as Touch Bank, Citibank, Mashreq Bank, Ajman Bank, National Bank of Abu Dhabi, Commercial Bank International, Abu Dhabi Islamic Bank, Bank Albilad, HBL and FinTech Companies like Strands, Ripple, Loyyal, Monami Tech, i-exceed and NOW Money.
“Technology has not just changed the way we do business today, it has also changed the way we compete. Innovation and technological advancements have created a very competitive business environment. For the banking and payments sector, technology is the driving force behind growth and ambition. Businesses are able to do things that they couldn’t imagine doing before. Collaboration between partners is one way to stay competitive and bring new value to customers”. Said Sudhesh Giriyan, COO of Xpress Money.
Giriyan adds: “Fintech has the power to re-engineer the banking industry. The technological advancements have disrupted the way transactions and payments are made. From a remittance perspective, banks will need to embrace collaborations with traditional and new players to be able to stay competitive and partake in the $600 billion remittance industry. The industry is an ever-growing sphere that offers endless possibilities. With the expertise and vast remittance network of International Money Transfer Organizations (IMTOs); banks, retail chains, fintech startups and telecom operators can tap into these possibilities with ease”.
A panel discussion aimed at highlighting the benefits of credit bureau optimisation services for banks in the Middle East featured an esteemed panel of senior bankers from Saudi Arabia. Speaking at the panel about the power of analytics and how it can be leveraged in credit card limit management, Zaid Kamhawi, CEO of Qarar, said: “Credit Bureau data provides fast access to accurate, consistent and standardised data on prospective borrowers. This 360-degree overview empowers Banks to assess customer behaviours more accurately, reduce processing time and costs which leads to enhanced customer experience and profitability”.
During the Panel discussion, and along with the Saudi Credit Bureau (SIMAH), The CEO of Qarar also revealed cutting edge modelling techniques and a range of strategies implemented across the customer lifecycle that will empower the audience with best practices in unlocking the real value of credit bureau data.
From his side, Suvrat Saigal, Managing Director & Head of Global Retail at National Bank of Abu Dhabi, said: “With the overall economic environment expected to remain subdued, banks are likely to prioritize their spending into areas that are either regulatory in nature or that help improve customer experience like digitization of service delivery and processes, adherence to Increasing regulatory oversight and Cyber Security.”
“Over the next few years, a trend that’s been underway since the end of financial crisis is likely to accelerate Increased commoditization of retail banking products. This, along with the competitive, low cost, low margin environment will force banks to differentiate based on a client focused strategy”. Saigal concluded.
The 12th Annual Middle East Retail Banking Confex is organized by Fleming. With RB Technologies as the Strategic Chatbot Partner, Saudi Credit Bureau (SIMAH) and Qarar as Strategic Speaker Lounge Partners, Newgen as the Gold Sponsor, Simon, Kucher & Partners at the Silver Sponsor, Tata Consultancy Services as the Digital Transformation Sponsor, Temenos as a Boardroom Briefing Partner, Finesse, Cloud Cherry & Software Group as exhibitors while Loxon, Vayana, xpress Money and Backbase have partnered as the Associate Sponsors. The event takes place at the Le Meridien Dubai Hotel & Conference centre from 4 to 5 April.