Companies in the financial services and banking sector need to be able to meet the changing expectations of today’s customers. Fred Crehan, Area Vice President, Emerging Markets at Confluent, speaks to us about why the UAE needs strong data management for the financial services sector to grow. The banking and finance sector in UAE is experiencing a significant recovery. In the first half of 2022, the country’s 11 listed national banks registered net profits of US$5.69 billion, owing to strong revenues and high liquidity. With clear signs that this momentum has carried through into 2023, the outlook for the year ahead is promising and continued Digital Transformation in the sector is likely to play a major part in its ongoing growth. At the same time, the financial services sector is going through a period of major change, with many factors contributing, such as the rise in cybercrime, changing customer expectations and the growth of digital challenger banks. Dealing with this change requires agility and innovation – both of which can be hampered by the necessary high levels of regulation and governance in the industry. To successfully navigate this period of change, banking and finance organisations in the UAE and […]
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