GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

300 delegates from the industry convened at the one-day summit held in Dubai on March 19 

Dubai, UAE, March 19, 2019:  FinTech will radically improve the financial health of the people of the Gulf through access to next-generation banking services, says Mr. Simon Galpin, Managing Director of Bahrain Economic Development Board. He was speaking at Finnovex ME 2019, a one-day conference on financial innovation and excellence, held in Dubai on March 19, 2019.

“FinTech holds the strongest potential to impact the ME economy with the potential of open banking to transform the services available to consumers in the short to medium-term. We're also laying the foundations for the development of cryptocurrency in the Middle East. That's another technology that has the potential to take off and progress far beyond what we've seen to date,” he added. 

“As technology continues to transform every sector and market, those who don't innovate are left behind. But creating the conditions for innovation is a little trickier; but is possible. It's more conducive to the culture of entrepreneurialism that we're fostering here as we create an environment for the next generation of digitally-minded companies to take root and flourish. The data economy in the region is expected to create 10,000 jobs for data scientists over five years,” said Mr. Galpin. 

The Finnovex ME 2019 featured key banking and finance industry thought-leaders from across the region, focusing on the future of financial services to be reshaped by the disruptive technological innovations in structuring, provision and consumption. The summit highlighted challenges and opportunities in the financial services sector in the region, bringing together government authorities, representatives from central banks and local as well as global financial institutions from the region. 

Finnovex ME 2019 also recognized the best practices, organisations and individuals in the banking and Financial Services sectors for showcasing excellence in adopting the industrial transformation. 

Commenting on the resounding success of the summit, Mr. Shabaz Ahmed, Executive Director at Exibex, said, “We are glad to receive the overwhelming response from across the banking and financial industry for the event. Finnovex ME examined how technology is changing the delivery of banking and payment services. Finnovex discussed the roles of banks, fintech companies, and other stakeholders in building an impetus to this paradigm shift. rapidly changing technology providing a momentous opportunity to transform banking and financial services.” 

“The Middle East is one of the world's fastest growing regions in the banking and capital markets sector. The region's financial services sector is in the middle of an immense overhaul. With populations getting younger, better educated and more demanding; swelling diversity in financial products and services; and rising regulatory requirements for better monitoring of processes and developing secure financial systems, banks and financial institutions across the region are investing heavily to match or surpass their international peers,” said Kanchi Shah, Head of Production, Exibex.

The Central Bank of UAE, Bahrain Economic Development Board, Alinma Bank, Emirates NBD, Bahrain Islamic Bank, Arab National Bank, Jordan Ahli Bank, Riyad Bank, Al Fardan Exchange, Dubai Islamic Bank, Abu Dhabi Financial Group, Arab Bank for Investment & Foreign Trade, MENA Fintech Association and AXA Green Crescent Insurance Company were key partners of the Finnovex. These industrial fore-runners have been instrumental in embracing change in the region.  

Finnovex ME 2019 brought together over 300 delegates from eight countries including the UAE, Saudi Arabia, Bahrain, Jordan, Kuwait, Lebanon, Oman and Egypt across the region. The summit is supported by The Bahrain Economic Development Board, Expo 2020 Dubai, Newgen Software Technologies, OneSpan, Comviva and Daon, will focus on Financial Innovations, Digital Transformation, Omni-Channel Banking, Cyber Security, Artificial Intelligence (AI), Blockchain and Customer Experience Enhancement. 



Posted by : GoDubai Editorial Team
Viewed 6100 times
Posted on : Tuesday, March 19, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Italian Design Day returns to Dubai with the theme Internet of Things
Next Story : Technology & Telecom Holds its Position as 2nd Most Intimate Industry with UAE Consumers, According ...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Tissot Introduces Chrono XL 3x3 Street Basketball Special Collection
Chloé Launches The New Cloud-shaped “rosie” Sunglasses
BYS COSMETICS Now in UAE
Max Mara Resort 2020 Collection
Saint Honore
Hackket's Bags of Style
Introducing the Swim and Beachwear Summer Collection from Marks & Spencer
VBQ-presskit-denim-70s Capsule
New Land Rover Defender Completes Tusk Testing to Support Lion Conservation in Kenya
Ministry of State for FNC Affairs Launches Forum Titled ‘Political Empowerment i...
Eberhard & Co. Alfa Romeo Limited Edition
OMEGA Rocket Engine - Introducing the Master Chronometer Calibre 3861
Natural and gentle haircare essentials for your little ones from Fifi & Friends'
Jaguar Land Rover & Bmw Group Announce Collaboration for Next Generation Electri...
Rado Captain Cook Automatic Limited Edition with travel case'
Kickstart your summer workout with Ibn Battuta Mall's free indoor family Fun Run
Vincitore Realty sells out 108 homes in the Dh375 million Benessere project in j...
UAE and Oman bodies sign MoU to jointly promote Internal Auditing
Britain's Greatest Test Driver, Norman Dewis Obe, Passes Away
The Gucci Runway Makeup Looks for Cruise 2020
Certina DS PH200M collection'
The Economic Times recognizes Malabar Gold & Diamonds as one of the Best Brands 2019
Electricity Most Searched Fuel Energy Term Online in UAE
Sony World Photography Awards Reveals New Categories for 2020 and Latest Sony Gr...
Aston Martin Produces First Cars at St Athan
Historic Opening of Coca-cola Arena Gets the Seal of Approval From Thousands of Fans
ZAAM Launches a spin on their iconic Polyhedron bag
Jennifer Lopez in Ralph Lauren
Backseat battles: kids driving their parents to distraction – and danger on the ...
The SS19 Exclusive Edit From Etoile “La Boutique''
Choose the perfect fragrance this Father's Day with Rasasi
BMW Group and Jaguar Land Rover announce collaboration for next-generation elect...
CEO of Etihad ESCO, Ali Al Jassim's Statement on World Environment Day 2019
Empower launches summer campaign to reduce district cooling consumption for the ...
The Chaumet Garden of Earthly Delights
Sharjah Chamber to Take Part in the 11th Edition of the World Chambers Congress ...
Jaquet Droz Unveils Its 2019 Novelties at Dubai Mall
Happy Father's Day with Tonda 1950 Skeleton
Dubai Cares supports 3-year teacher training program in Ghana to boost early chi...
Dp World, UAE Region's Strategic Solutions Boost the Automotive Sector
Dan Martin Returns to the Road to Lead UAE Team Emirates at the Criterium Du Dauphine
Resolution: Airlines Urge Governments to Adhere to Global Slot Allocation Guidelines
Team Abu Dhabi award Cappellini new long-term contract
Ibn Battuta Mall Eid Al Fitr Celebrations
Constructsteel Conference to take place in the Middle East for the first time
Emirates NBD highlights commitment to preserving marine biodiversity on World Oc...
Long-term visa granted to Dr. Azad Moopen & wife
Turkish Airlines added Strasbourg to the list of its destinations in France
Lukoil Marine Lubricants strengthens its collaboration with KOTC
Celebrate Father's Day with Marks & Spencer