Banking News

Banking CIOs and leaders convene in Muscat for technology summit


Leaders from the Middle East’s banking scene are set to convene tomorrow in Muscat, which will play centre stage to the 2022 edition of the NextGen Banking and Technology Summit.

Organised by Cedar Management Consulting and IBS Intelligence, the summit will provide attendants insights in the latest trends and developments in the banking technology ecosystem.

The event caters to the rapid change currently blowing through the landscape, with new technologies such as cloud, artificial intelligence, open finance, advanced analytics, robotic process automation, but also natural language processing and microservices architecture, transforming the way banks run, leverage and manage their IT.

“Digitisation in banks has become more of a necessity rather than a preference,” explained Chetan Parekh, a Partner in the Dubai office of Cedar Management Consulting and a leader in the firm’s Financial Technology practice.

“The reasons for embracing digitisation are multi-fold – to improve banking efficiency, attract and retain new customers, improve analytics, launch innovative services, and enhance product customisation.”

But as banks drive their digital banking roadmap, they come across all kinds of pitfalls, with digital transformation in banking notorious for its challenges. According to one recent estimate by Boston Consulting Group, only one third of digital-focused projects ultimately meet the benefits drawn up prior to launch.

This is where the two summits come in, said Parekh: “We will help leaders explore the latest developments in banking technology, so they can return to their business with valuable learnings and insights.”

For more information and signing up – see the special event microsite.

The one-day event takes place in the Grand Hyatt, Muscat, and will see an impressive line-up of speakers take the stage. Nearly half of the attendees are CEO or CxO level, with the other half operating at (senior) management level.

Sponsors of the event include system integrators Expleo, Infosys, and Tata Consultancy Services, and software vendors Temenos, NDC Tech and Oracle.

Organisers Cedar Management Consulting and IBS Intelligence are well-known brands within the financial services landscape. Cedar Management Consulting is one of the sector’s leading consultancies, while IBS Intelligence is a research house focused on the banking technology and fintech segment.

Earlier this month, the two firms hosted their Digital Banking & Payments Summit in Dubai, and in the United Kingdom, the pair hosted the NextGen Core Banking Summit 2022 in London.



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