CIOs and banking executives meet in Muscat for a technology summit

Leaders of the Middle East banking scene are expected to gather tomorrow in Muscat, which will play the central role in the 2022 edition of the NextGen Banking and Technology Summit.

Organized by Cedar Management Consulting and IBS Intelligence, the summit will provide attendees with an overview of the latest trends and developments in the banking technology ecosystem.

The event responds to the rapid changes currently traversing the landscape, with new technologies such as cloud, artificial intelligence, open finance, advanced analytics, robotic process automation, but also natural language processing and microservices architecture, transforming the way banks operate, operate and manage their IT.

“Digitalisation in banks has become more of a necessity than a preference,” explained Chetan Parekh, partner in the Dubai office of Cedar Management Consulting and leader of the firm’s fintech practice.

“The reasons for embracing digitalization are multiple: to improve banking efficiency, attract and retain new customers, improve analytics, launch innovative services and improve product personalization.”

But as banks drive their digital banking roadmap, they encounter all sorts of pitfalls, with digital transformation in banking notorious for its challenges. According to a recent estimate from the Boston Consulting Group, only one-third of digital-focused projects ultimately achieve the benefits established before launch.

That’s where the two summits come in, Parekh said: “We’ll help leaders explore the latest developments in banking technology, so they can return to their business with valuable learnings and insights.”

For more information and to register, check out the special event microsite.

The one-day event is taking place at the Grand Hyatt, Muscat, and will see an impressive line-up of speakers take the stage. Nearly half of the participants are at the CEO or CxO level, with the other half operating at the executive (senior) level.

Sponsors of the event include systems integrators Expleo, Infosys and Tata Consultancy Services, as well as software companies Temenos, NDC Tech and Oracle.

Organizers Cedar Management Consulting and IBS Intelligence are well-known brands in the financial services landscape. Cedar Management Consulting is one of the industry’s leading consulting firms, while IBS Intelligence is a research firm focused on the banking and fintech segment.

Earlier this month, the two companies hosted their Digital Banking & Payments Summit in Dubai, and in the UK, the pair hosted the NextGen Core Banking Summit 2022 in London.