Utilising the power of digitalisation to create long-term value for your business

digitalisation business power term payments
Saudi Arabia

Utilising the power of digitalisation to create long-term value for your business

Digitalisation has moved to the core of everything businesses do, and while for some it may still be a pressing issue to play catch up, for others it has become the norm, with digitisation at the heart of systems, processes and indeed the customer experience. The last 18 months have seen an acceleration in digitalisation as many businesses have reassessed their strategies and operating models to ensure they remain relevant and embrace the benefits that digitalisation can bring. The regional financial sector is certainly no stranger to this move. A sector once over-reliant on cash payments saw a sharp increase in the use of online banking, contactless payments and mobile wallets as consumer behaviour shifted and confidence in new ways of doing business were adopted at a pace never seen before. However, digital transformation in banking for traditional players is a long journey and much more complicated than just providing online accounts and payments services. It involves deep infrastructural changes and the applications of new technologies such as security, cloud-computing, machine learning (ML) and artificial intelligence (AI). Newer players and emerging FinTech providers have had a clear advantage due to their agility as well as their absence of ‘legacy’ products…