Finnovex Middle East Summit: Digging deeper into resilient and agile transformation strategies

Finnovex Middle East, the summit on financial services innovation and excellence, took place on 7-8 September 2021 and was held in-person this year at Conrad Dubai.

The host’s virtual platform was broadcast around the world and witnessed the attendance of 1,000+ senior figures from the banking and FI industry.

It was organised by Exibex and took place as part of the Finnovex Global Series.

The event was very timely as it highlighted the imperative to endow the digital future of the region by developing and leveraging new technological solutions in data, advanced analytics, digital, and new delivery platforms.

Insights were dished out with a blend of fireside chats, panel discussions, and expert presentations. Industry thought-leaders explored trailblazing topics, which included Open Banking and APIs; AI; Cloud Automation; Digital Transformation; Cyber Security & Risk Management; Omnichannel Payments Revolutionising; Data Analytics and more.

The Conference Chair, Pritesh B. Kotecha, SVP of Europe, Middle East & Africa at SmartStream, highlighted how timely the conversation was in relation to his role played within the industry in relation to the current digital disruption era.

Frederic De Melker, Managing Director, Personal Banking at Rakbank, buttressed the fact that at the moment the “middle man” in the service delivery process is dead and the role should be digitalised. If banks want to succeed and remain relevant, decentralisation is key.

In tandem, Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, highlighted the future of finance strategy as the driver of the entire fintech Industry. He also talked about the DIFC’s collaboration with government and private sector entities.

The Dubai International Financial Centre (DIFC) is the “numero uno” financial centre for the Middle East, Africa and South Asia (MEASA) region, providing a world-class platform connecting this region’s markets with the economies of Europe, Asia, and the Americas. It’s also facilitating the growth in trade and investment flows. An onshore, international financial centre, DIFC provides a stable, mature, and secure base for financial institutions to develop their wholesale businesses.

The summit format consisted of speaker presentations and panel discussions. Among the panel and presentation speakers were – Saqib Khan, Regional Sales Head – Middle East at Backbase; Ahmed Bin Tarraf, Regional President of UAE at Network International; Fahd Rachidy, Founder and Chief Executive Officer at Abaka; Murat Guner, Regional Manager, MEA at Smartmessage; and Abdullah Ahmad, Regional Sales Manager, KSA, at Smartmessage. They deliberated on how banking and financial institutions are evolving and adapting in the light of digital disruption in an efficiently AGILE way.