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Misys Connect Forum 2016 closes in Dubai

Regional banking event discusses how banks can make technology a strategic differentiator

Khan: The Internet of Things is definitely creating an impact on how financial institutions are operating.
Khan: The Internet of Things is definitely creating an impact on how financial institutions are operating.

The impact of the cloud on financial services; real blockchain use cases; and how a Platform-as-a-Service model can transform IT development to boost agility and collaboration in the financial sector.

These were the main points of discussion at the just conclude second annual Misys Connect Forum in Dubai.

The forum is Misys’ biggest regional banking event, focused this year on how banks can make technology a strategic differentiator. The event provides a platform for industry leaders and professionals from the region’s financial services sector to exchange best practice with global experts and learn how to innovate in the new app driven economy.

The event was attended by over 200 banking experts who discussed industry trends and innovative strategies for addressing current and future challenges in the banking industry.

Another trend that was highlighted this year was the Internet of Things (IoT) and how it is changing the fundamentals of the banking sector. Banking services providers were urged to continue transforming and innovating to compete and drive their businesses to the next level. Guest speakers at the event included thought leaders in the banking and capital markets sectors such as Seetharam Rahavan, CEO, Doha Bank Group and Tariq Alusaimi, AGM, head of innovation & digitalisation, National Bank of Kuwait.

“The Internet of Things is definitely creating an impact on how financial institutions are operating today. Recent reports indicate that the Middle East is well on track to becoming one of the fastest adopters of IoT solutions, resulting in a bigger network of connected devices that can be accessed online,” said Sohail Khan, managing director, Middle East, South Asia & Africa, Misys. “Banking customers today are becoming more comfortable going online and using their smart devices to transact. This is leading the industry to become more competitive with its digital offerings to maintain customer loyalty.”

In the MEA region, Misys is a key player in the financial software industry, providing a broad portfolio of banking, capital markets, investment management and risk management solutions. Misys works with banks in the region, helping them create a digital banking eco-system through digitalisation, cloud and transformation.

In addition to IoT, Misys also delivered a keynote on the challenges currently being faced today in Islamic Finance. With 12.6% of Islamic banks in the region lagging behind in terms of profitability, the keynote emphasised how these challenges can be addressed through automated technology solutions to increase efficiency and enable end-to-end customer experience. Other activities that took place during the event included a number of discussion panels and breakout sessions. These sessions addressed topics such as shaping the global financial services industry, creating a digital banking eco-system and opportunities for cloud and the app economy.

Sohail added: “Misys Connect Forum provided us with the perfect platform to reinforce our vision to transform the financial services industry by making financial institutions more resilient, efficient and competitive. Through the interactive sessions today, we helped customers find new ways to react to changing market conditions and end-user expectations. We look forward to hosting the event again in Dubai next year.”