In a recent development, the Arab African International Bank (AAIB) announced a collaboration with Liferay Inc.; a provider of digital platforms. This is in line with the former’s digital transformation and customer-centric strategy, which is believed to enhance AAIB customers’ digital experience, through facilitating and securing their access to the bank’s various touchpoints, whether internet banking or mobile application.

“With digital capabilities introducing consumers to new possibilities, the Saudi banking sector is witnessing more and more people proactively engage in multiple banking relationships. Demands and expectations are evolving, and we see that it is easier to switch banks with the simplicity of digital onboarding,” explained Mustafa Bosca, Managing Director, and Partner, BCG.

“In the UAE, we see that most customers have multiple banking relationships, which is understandable when one considers the significant expectations people now have on their banks.Two-thirds of survey respondents proactively search for offerings that provide better value and over half would not be hesitant before opting for a different bank altogether,”said Mohammad Khan, Partner, BCG.

On September 7 and 8, 2021, Finnovex Middle East 2021 will be held in a hybrid format, with in-person sessions at Conrad Dubai and simultaneous virtual streaming online. The two-day International Summit will look at how technology is reinventing banking innovation for 2021 and beyond, with the subject “Digging Deeper into Resilient and Agile Transformation Strategies.”

“The Visa Ready certification further boosts customer confidence in our capabilities. It also enables us to deploy Visa card programs faster for banks around the world. We are of particular appeal to digitising banks who are looking to move away from legacy processors to more economic, more agile and more flexible solutions,”