Abu Dhabi, 17 November 2014:The UAE Banks Federation, a professional representative body comprising 50 member banks operating in the UAE, hosted its second annual conference on 17th November at the Jumeirah Beach Hotel in Dubai. The Forum, which is by invitation-only eventorganised by Financial Times Live andThe Banker magazine, brought together delegates from member institutions andseniorrepresentatives of local, regional and international banks andother financial services organisations.Its theme this year was the need for innovation in a digitally connected world.
His Excellency AbdulAziz Al-Ghurair, Chairman of the UAE Banks Federation welcomed attendees of the conference by underlining the increasing challenge of a digitalising industry: “As banks we have always had to be creative to succeed, but in today’s digital environment innovation is more important than ever” he said in his opening remarks. “Branches are still popular, and customers like to talk to their bankers face-to-face or by telephone. But people and businesses are increasingly conducting their transactions and seeking advice through computers and mobile devices.
“The question we are asking ourselves at this year’s conference is - have we done enough to take advantage of the digital miracle? In travel, retail and in personal and news communication the change brought by the digital revolution has been breathtaking. But have we in the banking world made the most of it?The question is what will drive the effective digitisation of banking in the 21st century? The answer, on which all the leading consultants seem to agree, is the customer. This is not only because technology makes transactions easier, but more importantly the new consumer generation want to organise their banking, shopping, travelling and entertainment that way.”
The guest keynote speaker was Dan Schatt, Chief Commercial Officer of Stockpile and former General Manager of Financial Innovations, PayPal who has authored many publications dedicated to e-Banking, and who offered insightsabout where the next moves in digital payment and the future provision of financial services will lead.
Simon Hills, Executive Director at the British Bankers’ Association, also spoke about how banks can collaborate with each other through associations such as the BBA, as well as multi-lateral agreements, and informal networking. He also described the roles of banking associations around the world to enable participants in the banking industry to improve their co-operation and partnership skills.
The conference drew an audience of over 300 delegates made up of members of member banks of the UAE Banks Federation, as well as senior representatives of regional banks and financial institutions as well as consultancies and other participants in the financial sector.
As a new feature for the event this year, the conference agenda includedseparate roundtables to stimulate open discussion among delegates on cyber security, creating a safe and resilient banking sector, mobile money, supporting SMEs, job creation and future steps for Islamic Banking.
