Wednesday 15 / May / 2024
Muscat: The Cedar-IBSi NextGen Banking & Technology Summit, held on November 4, 2023, in Muscat, Oman, has emerged as a resounding success, celebrating a day filled with profound insights, innovation, and a vision for a brighter future in the banking and technology sectors.
The summit brought together luminaries, thought leaders, and industry experts, making it one of the most significant and transformative events in the region. Cedar Management Consulting, a Forbes-listed management consulting with a sizeable presence and amount of work in the Middle East, and the UK-based IBS Intelligence, a news and media advisory firm for FinTechs, co-hosted the event.
This year, Cedar-IBSi events have delivered excellent banking summits in Mumbai, London, Bahrain, Dubai, and now Muscat. It has undoubtedly emerged as an invaluable platform for knowledge sharing, insightful discussions, and exploration of cutting-edge trends and solutions that will shape the future of banking and technology.
The Muscat summit was no different, with over 110 delegates representing 30+ banks and financial institutions.
Cedar-IBSi would like to express a huge thank you to our event partners for their invaluable support and collaboration. Together with Backbase, BML Istisharat Sal, Expleo Group, Finastra, Fiorano, i-exceed, Nucleus Software, ORACLE FINANCIAL SERVICES SOFTWARE LIMITED, uqudo, and Temenos, we created a platform for insightful discussions, knowledge sharing, and exploring cutting-edge trends and solutions. These partnerships have been essential in driving positive change and propelling the industry forward. The willingness of these industry leaders to share their experiences and perspectives has been instrumental in driving innovation in the banking and technology sectors.
The summit featured 17+ distinguished speakers who shared their expertise, insights, and invaluable contributions. From the Head of Strategy and Transformation at the National Bank of Oman, Mustahil Ahmed Al Mamari, to the Managing Director of Universal Banking at Finastra, Rudy Kawmi, and many more, these leaders enriched the collective learning experience for all attendees.
The summit was organized into panels covering various critical aspects of the banking and technology sectors. These panels explored the future of digital Islamic banking, the evolution of payments in Oman, fostering FinTech innovation in the digital ecosystem, and market overviews and trends. Each panel provided profound insights and actionable takeaways.
The first panel had a future-forward outlook on the digital transformation journey of Omani banks, exploring Oman's Vision 2040 and how it will shape the NextGen tech solutions to enhance customer experiences, streamline operations, and extend their influence. Panel 2 explored the role of FinTech in the digital ecosystem, highlighting the collaborative efforts between FinTech companies and banks and the potential for innovation in corporate transaction banking.
The third panel provided key insights on the disruptive technologies shaping Oman's payment landscape in the next 5-10 years, including open banking APIs, cross-border payments, and real-time payments. One of the event's highlights was Panel #4, which focused on Empowering Digital in Islamic Banking. Experts discussed the transformative role of technology in elevating accessibility and compliance within digital Islamic banking.
The summit also highlighted the importance of collaboration between traditional banks and FinTech companies in driving innovation and advancing the industry. It showcased the significance of open banking standards and regulatory initiatives in shaping the future.
The Cedar-IBSi NextGen Banking & Technology Summit provided a platform for attendees to learn, network, and engage in transformative conversations. It was a testament to the collective commitment to advancing the banking and technology sectors in Oman.
Looking Ahead:
The Cedar-IBSi Summit 2023 has set the stage for a brighter future in the banking and technology sectors in Oman. The event showcased profound insights, innovative ideas, and the promise of a dynamic and innovative industry. We look forward to future collaborations and exciting developments on the horizon.
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Ojas Kulkarni
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