ICAI International Conference
The Institute of Chartered Accountants of India Holds Its First International Conference on “Industrial Revolution 4.0 Digital Transformation”
Boubyan Bank's Deputy CEO, Mr. Abdulla Al-Tuwaijri, attended the First International Conference of the Institute of Chartered Accountants of India (Kuwait Chapter) on “Industrial Revolution 4.0 Digital Transformation” which was attended by 450 financial professionals.
The panelists addressed various subjects concerning the digital revolution and how digital transformation is making a huge impact on everyday life and the future of various economic sectors and how to embrace such an impact for a better level of customer service.
During the discussions, Mr. Al-Tuwaijri stressed that the digital revolution made competition far more intense than before owing to the new services introduced which focus on customers such as market chains, and e-stores which provide small loans and other financial services for their customers.
Al-Tuwaijri stressed that: “Fintech gained significant importance over the past years due to the changes in man’s behaviors arising from the adoption of modern technology such as smart phones, biometric security or the instant availability of information to customers.” He added: “The way of offering products and services to customers has changed due to technology.
Nowadays, customers - despite seeking similar banking services to the current ones available in the market - look forward to what banks offer in an attempt to stand out by focusing on customer service and ease of offering products, and increasing the value provided by such banks.”
Cooperation with FinTech Companies
On the cooperation between banks and technology companies, Al-Tuwaijri stated: “Fintechs and banks should join their efforts on a larger scale and use their expertise to translate their ideas into a reality so as to meet customers’ expectations and ambitions.”
“Recently, Boubyan Bank has been working on cooperating with Fintechs in the field of payments while promoting the startups’ environment in Kuwait emanating from its social responsibility in addition to using this opportunity to attract young Kuwaiti talents and innovators.”, he added.
The panel discussion was moderated by Ms. Sheikha AlFulaij, Partner - E&Y, with the participation of Mr. Abdulaziz B. Al Loughani – Managing Partner Faith Capital and CEO Floward and Mr. Gopal Sharma – Partner Transformation and Automation Leader EY
It is worth-mentioning that the conference was attended by his Excellency, Mr. K. Jeeva Sagar, Ambassador of India to Kuwait and CA Atul Gupta (Vice President of ICAI).