Regional financial institutions that do not facilitate electronic banking will lose increasingly mobile customers, as online transactions are set to grow rapidly over the next five years, say regional experts who will speak at IIRs' eBank 2002 event taking place at the Dubai Crowne Plaza Hotel from September 21-24.
E-banking is thought to be essential to long-term customer retention and increased profit margins, as demand for 24-hour banking expands across the region. On-line banking, insurance and even e-loans could be done from the comfort of one's home.
“The leaders in the Middle East's banking sector will be those that embrace the Internet now and gain the experience necessary to conduct business at 'Internet speed', and, ultimately, compete with their global competitors,” said Patrick Hayati, Hewlett-Packard Middle East's regional director for financial services industry.
The event will focus on emerging business strategies and the topics influencing financial services in the Middle East, from secure customer transactions to Web self-service. Confirmed speakers represent financial institutions including: Arab Banking Corporation, Emirates Bank International, HSBC, and Standard Chartered. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
