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PRESSR: Banks accelerate AI-driven transformation and digital currency adoption to power UAE’s economic growth
PRESSR: Banks accelerate AI-driven transformation and digital currency adoption to power UAE’s economic growth
About this update from United Arab Bank
DUBAI : The convergence of AI, blockchain, and digital currencies will become the foundation for the next era of financial services, say experts at the two-day Finnovex Middle East 2025 summit, being held in Dubai. Experts agreed that these technologies represent a structural shift toward secure, intelligent, and customer-centric banking ecosystems and are expected to redefine payments, compliance, and operational efficiency across the region.Finnovex, now in its 33rd global edition, brings together decision-makers, regulators, and technology leaders to share insights and strategies that shape the future of banking and fintech. This year, the summit featured several senior officials and industry leaders, including Omar Abdalla Reda from the UAE Ministry of Finance, Mohammed Wassim Khayata of Emirates Development Bank, and Dr. Hani Alghanem from Uniphore, along with leaders from major financial organisations, including United Arab Bank, HSBC MENAT, First Abu Dhabi Bank, RAKBANK, Ajman Bank, National Bank of Umm Al Quwain, and Mashreq Bank, of the UAE.In his opening remarks, Shabaz Ahmed, Executive Director of Exibex, the organiser of Finnovex, emphasised that “Innovation, technology, and collaboration are converging to shape the future of finance across the Middle East.” He underscored the urgent need to “think beyond today and start building the fintech ecosystem of tomorrow, starting now.”Highlighting Finnovex’s role as a critical platform, Ahmed described it as “a space for foresight and action, inspiring leaders to embrace disruption and lead the next wave of financial evolution. Partnerships between banks, fintechs, and regulators are essential to create sustainable and inclusive financial ecosystems, signalling a unified industry approach toward transformative growth and inclusivity in the region’s financial sector.”The summit, themed “Digital, Decentralised & Disruptive”, featured panels on critical themes shaping the future of finance. Discussions explored how institutions can leverage cybersecurity as a strategic advantage, build borderless and inclusive digital ecosystems, and transform payment landscapes for seamless, secure, and intelligent transactions in the AI era. Experts also examined the role of automation, regulatory harmonisation, and emerging technologies such as blockchain and digital currencies in driving operational efficiency and c...