IBSi FinTech Journal Feature Focus: Banking Technology in the Middle East

The Middle East has always stood out as a confluence of cultures, and the services rendered by its banks epitomise the profile of its audience. While traditional banking is still in vogue for the conventional customer, CIOs continue to invest in technology driven innovations that are in line with international directions, and the new age customer. More than 50% of the population in the UAE, for instance, is less than 30 years old, reflecting the typical profile of the customer demographic, and highlighting demands that need to be urgently addressed.

Even while the larger economic impact driven by the drop in the oil prices and the resultant implications that banks need to deal with are debated in every boardroom, there are many technology initiatives they continue to engage with; a few stand out as being more common, and in most situations demonstrate a paradigm shift.

In this Feature Focus, we explore some of these initiatives, seen to be critical and pervasive across most Middle East banks.

IBSi FinTech Journal’s Middle East Feature Focus includes:

Case study: Emirates NBD – BNP Paribas Egypt

EmiratesNBD group is one of the largest banking  groups in the UAE,  with an asset  base  of more than US$105 billion. It acquired the Egypt operations of BNP Paribas in 2013 in line with the group strategy to expand its international operations by acquiring banks in the region. The group’s IT unit was tasked with the delivery of a technology transformation project within a timeframe of two years.

Middle East banks & technology: the five new dimensions

Spotlight on digitalisation of branches, mobility, channel convergence, Big Data and analytics and modernising IT infrastructure.

What is the IBSi FinTech Journal Feature Focus?

Each issue of our flagship monthly IBSi FinTech Journal includes a Feature Focus, dedicated to a specific area of banking technology. The Feature Foci are part of the IBSi FinTech Journal subscription.

IBSi FinTech Journal Feature Foci cover a wide range of subjects pertinent to the financial technology industry worldwide. They include detailed case studies, analysis, interviews and other feature articles.

Each publication features independently researched and compiled material, with no advertorial or contributed articles. All articles are written by IBS, and we believe that this dedication to quality is unique among publications in the banking/financial services technology space.

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