DAILY TRIBUNE 4TH DECEMBER 2017: UNDERSTANDING THE DYNAMICS OF THE ISLAMIC BANKING INDUSTRY
Writing in the Daily Tribune on 4th December 2017 about the 24th World Islamic Banking Conference, Andrew Sims, Chief Executive Officer of NEC Payments said:
The 24th World Islamic Banking Conference is coming to Bahrain at a time when both the financial services industry and the GCC region are going through a period of intense change. The Kingdom of Bahrain, again host to this prestigious occasion in the annual calendar of Islamic Banking events, is itself going through a period of economic transformation with a focus and emphasis being placed on the creation of an ecosystem that can incubate and drive innovation in the technology and financial technology – or FinTech – segments.
This backdrop will provide context to the event, which features a complimentary agenda that will bring focus, debate, and thought leadership to bear on the current challenges and opportunities in the Islamic Banking industry. Its objectives include addressing how innovation and transformative initiatives can be used to introduce new products, drive customer engagement and take-up, and deliver operational improvement and cost efficiencies.
Much attention is being placed on the customer experience delivered by retail banking products and – in an age when information is shared and opinions are formed quickly based on the consumption of content that is delivered digitally across mobile, web and social channels – the importance of understanding customer requirements, their sentiment, and the journey they take when interacting with your products makes curating digital content a more important factor than ever before.
I am delighted to be able to participate in the Digital Banking panel discussion along with industry colleagues including well-respected CIOs and the leaders of technology companies operating in this segment. In this discussion, we will address the importance of the customer journey, and how Islamic Financial Institutions can develop digital banking strategies that will enable them to attract and retain customers, and grow market share across their retail portfolio.