Saudi Arabia’s IT sector has always had high aspirations, whether in attracting the best talent and software provision or securing its place on the global stage through such programs as Vision 2030. The desire to compete has been heavily backed by the Saudi Government, but this year looks to be the true beginning of a…
In an edited version of a piece in CFO Middle East, EY MENA’s Khurram Siddiqui shares his thoughts on why robotic process automation is something that finance departments need to prepare for as part of their future. With increasing mandates to reduce costs, improve the speed, volume and quality of information they provide, as well…
Fintech is a hot topic in the Middle East at the moment. ADGM, DIFC, Bahrain and Saudi Arabia are all looking to create eco-systems to support investment, innovation and growth in the Fintech market. Some great strides have been taken and we are seeing international companies look to grow regional offices and local businesses founding…
While the GCC region remains a technologically sophisticated BFSI market, many financial institutions are still missing out on the digital innovations that are radically changing business models and redefining customer experiences. Digital-only banking is a new wave that is expected to change the way the banking industry works, with concepts such as card-less payments, blockchain…
In 2016, Chinese entities made 932 deals worth over USD 220 billion, representing an increase of 246 percent over the previous year. The massive rise in deal value mirrored the shifting direction of Chinese economic growth, toward a model driven by technological innovation, consumption and industrial knowledge. It was also at least partly driven by…
Dubai Financial Services Authority has recently announced the launch of its Innovation Testing Licence (ITL). The ITL will ease regulatory requirements for firms that provide financial technology services in the region, allowing qualifying firms to develop and test innovative concepts from within the Dubai International Financial Centre (DIFC). Firms under the new licence will not…
With the 600+ pre-registered attendees for next week’s inaugural HITEC Amsterdam, Hospitality Financial and Technology Professionals (HFTP®) is interpreting the strong interest as a sign of vitality for the hospitality industry and its stakeholders. In 2017, HFTP expanded its stakes in its 45-year Hospitality Industry Technology Exposition and Conference (HITEC), by adding two boutique events…
Emirates NBD is among the many banks that are flocking to blockchain technology. The bank recently announced that it will be working with ICICI Bank, India’s largest private sector bank by consolidated assets with total assets of over 139 billion USD and a presence in 17 countries. ICICI is also the first Indian bank to…
The global focus on investing in cleantech approaches to energy, and in turn diverging away from oil and gas, has not been lost on GCC territories with deep roots in traditional industry and infrastructure, such as Saudi Arabia. While there has indeed been a global boom in the number of sites in which sources such…
Last year, a number of GCC territories made their desire to participate in technology development clear, and now; the world is seeing that desire turn to action. Recent investments and ventures with Southeast Asian partners in particular are driving the move. The relationship between the Middle East and Southeast Asian technology ventures has been building…