Tuesday, 6 Jun 2023
Bank Muscat hosts technology and IT disruption conference

Bank Muscat hosts technologies and IT disruption conference

The occasion was held at the bank’s head workplace on Tuesday. It came as element of efforts by the bank aimed at sharing insights on the unprecedented advances in technologies shaping the future of company operations.

The conference highlighted the newest developments on the ‘Future of New Technologies’, ‘Oman’s readiness for the Fourth Industrial Revolution’, ‘Disruptive Technology Impact on the Global Financial Service Market’ and ‘Delivery Innovation in Banking through Technologies’.

H E Eng Sheikh mentioned, “This initiative will play a major role in the development of the banking sector and facilitating the financial transactions of citizens. We are part of the world and we must strive to keep abreast of everything new especially in technology. Muscat Municipality has made great strides in the field of technology since the beginning of the 1980s. Now Muscat Municipality deals with a lot of citizens online through the application Baladiyeti.”

Sheikh Waleed al Hashar, deputy chief executive officer, Bank Muscat, mentioned, “This is the fourth year that we are hosting this conference. It is an important conference for us because it provides us with the platform to evaluate and discuss new technologies and tools in financial services and the future outlook.”

He added, “It is important for us for a number of reasons. In terms of technology, it sheds light on how we can use it to derive proficiency and productivity and importantly how we can use new technology to bring about new customer segments. It is also an enriching experience for those who are taking part as well as the financial community.”

Experts who addressed the conference incorporated Richard Watson, author, lecturer and futurist Dr Ali al Shidhani, director of Research Centre and ICT Research V Ram Kumar, senior companion at Cedar Management Consulting and Jakub Polec, digital innovation director – Oracle Middle East Africa and Turkey.

Firas al Balushi, representing young Omani innovators, also addressed the gathering.

In his presentation, Watson noted that Oman is placed favourably to emerge as a hub of innovation in view of its young population compared to ageing population in created nations. “There is no set future as far as technology development is concerned. We make the future wherein technology enhances the human experience.”

Ahmed Omar al Ojaili, senior AGM, Information Technology, Bank Muscat, mentioned, “Financial technology is changing the future of banking and Bank Muscat has seamlessly progressed from traditional to innovative digital banking to enhance customer experience, reengineer business operations and achieve growth. The digital banking channels reiterate the focus and commitment of Bank Muscat in adding value and engaging customers through their preferred electronic banking channels.”

Information Source: Muscat Daily

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