How Digital Transformation is Reshaping Corporate Banking

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 While retail banking has quickly adapted to digital environment and incorporated the latest technologies, it is not the same for corporate and commercial banking. As an increasing number of consumers turn directly to Fintechs for standalone products such as low-cost international transfers and supply-chain financing solutions, corporate banking is facing competition like never before. In order to stay ahead of this competition, it has become vital for corporate banks to transform digitally.

Moreover, as greater number of tech-savvy millennials join the workforce, their expectations with the bank’s services and experience are also evolving. Akin to retail banking, corporate banking customers are also expecting quick, cheap and convenient banking services. The need for corporate banks to embrace digital solutions has never been greater.

Wissam Khoury, Managing Director for the Middle East and Africa at Finastra said, “It’s an exciting time to be part of the New Age Banking Summit here in Qatar, as the financial landscape in the Middle East shifts towards a digital and open banking architecture. Our platform for open innovation, FusionFabric.cloud brings together key players of the financial services ecosystem, from Fintechs and developers to consultants, enabling retail and corporate banks to open up APIs, collaborate to innovate and get ahead in the digital transformation journey. Being part of NABS will introduce the local financial services landscape to a world of opportunities.”

Formed in 2017 by the combination of Misys and D+H, Finastra builds and deploys innovative, next-generation technology on their open Fusion software architecture and cloud ecosystem. FusionFabric.cloud, Finastra’s cloud-based platform for open innovation offers a marketplace for the broadest portfolio of financial services software in the world today—spanning corporate banking, retail banking, investment management, managed services, and treasury and capital markets. Finastra is one of the largest financial technology companies in the world, with 90 of the top 100 global banks using its technology.

Finastra is participating as Gold Partner at 7th Edition New Age Banking Summit, Qatar on 18th September 2018 at InterContinental Doha – The City. The Summit is supported by Qatar Central Bank and Qatar Financial Center Regulatory Authority.

Organized by UMS conferences, the summit will not only highlight the challenges and opportunities but will provide a knowledge and networking platform that will empower the banks to devise strategies that will help them keep pace with the evolving financial eco-system in this digital age.

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