"The Covid-19 has accelerated digitalisation across the industry with many banking institutions dedicating significant resources to digital solutions, which has played a key role in sustaining businesses and reducing overheads in low volume situations," QInvest co-chief executive Hussain Abdulla said at a recently held Future Investment Initiatives (FII) panel.
FII is a platform driven by expert-led debates, discussions, and partnerships among the world’s most influential leaders in business and government. The latest edition of the event took place over October 26-29 in Riyadh.
"As we enter a post-Covid era, the main challenge for banks in the Middle East will be ensuring that we do not lag behind global institutions by adopting innovative digital and fintech solutions that further drive customer experience personalisation at an increasingly rapid rate,” he said.
QInvest's participation was led by Abdulla, who took part in a panel discussion titled “Banking on Future: The Outlook for Financial Institutions in the GCC (Gulf Co-operation Council) and Beyond.”
The session included prominent leaders Fahad al-Mubarak, governor, SAMA; Timothy Collins, chief executive, Ripplewood Advisors; Robert Edward 'Bob' Diamond, founding partner and chief executive Atlas Merchant Capital; and Frederic Oudea, chief executive, Société Générale – and refocused attention on challenges facing the banking industry as it continues to adapt to market disruptors.