Abrar Siddiqui

Commercial Bank of Dubai's Transformation with Azure: A Story of Innovation and Success 🌐 Commercial Bank of Dubai's evolution through Microsoft Azure demonstrates the impact of technological progression. Our recent achievements highlight how we've revolutionized banking by increasing our customer base fourfold and multiplying transaction volumes by ten in a short span of time. 🔧 Central to Innovation: Created a proprietary, low-code Corporate Internet Banking framework that supports swift deployment and digital innovation. Leveraged Azure’s advanced capabilities, such as Kubernetes, App Service, and DevOps tools, to refine our technological landscape. 🔐 Boosting Efficiency: Enhanced the visibility and control over transactions, delivering exceptional services to our clients. 💡 Looking Forward: Dedicated to persistent tech evolution, we’re establishing new standards in financial services with Azure’s cloud-native solutions. Read more about our journey towards a future, where cloud technology reshapes finance! #CommercialBankofDubai #CBD #Innovation #CloudJourney https://lnkd.in/gR7y35H5

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A Transformational Moment for the Abu Dhabi Chamber of Commerce! I am incredibly proud to announce that today we’ve gone live with our fully modernized, cloud-based ERP system! This is not just a technical upgrade – it's a game-changer that will shape the future of our operations. With state-of-the-art automation and AI capabilities integrated throughout, this system will streamline processes, increase efficiency, and significantly enhance the services we provide to our members and stakeholders. This achievement would not have been possible without the visionary leadership and unwavering support of His Excellency, our CEO Ahmed khalifa Al Qubaisi .His forward-thinking digital mindset was the driving force behind this initiative, encouraging us all to embrace change and push the boundaries of innovation. His commitment to seeing this through has truly set the stage for a new era at the Chamber. I also want to extend my heartfelt thanks to the entire team whose dedication and hard work brought this complex project to life. Your collaboration, resilience, and focus have been key to reaching this major milestone, and I couldn’t be prouder of what we’ve accomplished together. Throughout this journey, we’ve gained valuable insights: 1. Clear Communication is Key:Ensuring all teams were aligned, from leadership to operations, was vital in managing expectations and keeping the project on track. 2. Adaptability and Flexibility:Transforming legacy systems isn’t easy, but being open to learning and adjusting our approach as we progressed made all the difference. 3.Collaboration Across Teams:This project reinforced the importance of cross-functional collaboration. By involving everyone from IT to finance and beyond, we ensured the ERP system addressed the diverse needs of the Chamber. I’m excited to see the long-term impact this transformation will bring to our organization, making us more agile, efficient, and better equipped to serve our community. Here’s to continued progress and innovation! #DigitalTransformation #AI #Automation #ERP #Leadership #Innovation #FutureReady

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'Agile Analytics – Building a data-driven culture' - a great topic on the Business & Data Analytics Stage delivered by the amazing Raphael Stein, Data Intelligence Div Director at ADEK (Abu Dhabi Education and Knowledge)  Key takeaways: - How do we approach the data-driven needs? - Data governance is a delay or important partner on agile Analytics. - Scalability is a must Thank you for the insightful points you shared with us! #DISummitMEA2030!

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🔝Where does the🕌Middle East stand in the global 🦾AI funding race❓ The #UAE and 🇸🇦Saudi Arabia are at the forefront of attracting more #capital to power their #AI ambitions 🕌Middle East #investment funds have the potential to become global players in the booming #artificialintelligence space, given their vigorous push in the advanced #technology sector, according to experts. International investors are particularly taking notice as the region targets untapped markets, clarifies government policies to create advanced tech-friendly environments and integrate AI into all aspects of the private and public sector, industry experts say. Consultancy PwC had estimated the region’s future slice of the world’s AI market at 2 per cent – $320 billion – by 2030. Yet this was predicted about six years ago, before the region attracted billions and sealed partnerships with major western tech leaders such as #Oracle and #Amazon. Most recently, in April, Microsoft entered a $1.5 investment and #partnership with the UAE’s leading AI entity G42. The UAE and Saudi Arabia are at the forefront, as the Arab world's two biggest economies that have focused on diverting away from oil and gas reliance, in pursuit of being recognised as global hubs for tech entrepreneurship and innovation. Global corporations seeking to tap into the region’s anticipated future influence are acting on the offerings. “Compared to global counterparts, Middle Eastern AI funds are still nascent … [but] the growth is expected to be significant,” Mohammed Soliman, director of the strategic technologies and cybersecurity programme at the Washington-based Middle East Institute think tank, told The National. He said that “the region offers a compelling case for AI investors”, as “governments are actively supporting AI development through funds and initiatives”. This is shifting the gaze of global tech heads who are looking to connect to the Middle East and further, said Mr Soliman. Read More…

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The Islamic finance industry continues to grow worldwide, surpassing Dh16.5 trillion in 2022 and is forecast to grow to Dh24.5 trillion by 2027. Nivetha Dayanand speaks to Christoph Koster, CEO of ruya, about how the UAE bank is leveraging technology to offer Sharia-compliant digital banking services. Follow the link for more information: https://lnkd.in/dfaVi7NP #ruya #digitalbanking #islamicfinance #financemiddleeast

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As e-commerce grows and technology advances, the payments landscape is evolving fast. Could gesture or voice-based payments become the norm? How will AI transform how we transact, and could blockchain disrupt the industry? At the MEA Finance Magazine’s MEA Finance Leaders in Payments Conference in Dubai, Altaf Ahmed, our Director of Digital Payments and Retail Solutions, joined a panel with industry leaders from noon, HSBC, and RAKBANK to address these questions. Under the theme ‘The Path for Payment Gateways,’ they discussed the impact of shifting consumer behaviours, fintech innovations, and the critical role of AI in enhancing payment processes. As leaders in the rapidly advancing digital payments space, we’re excited to take key learnings from today’s event as we continue to build the future of fintech👏 #MEA #eAndenterprise #PaymentGateway #Fintech #Innovation

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Chief AI officers - sounds ironman like :) This is a pivotal moment in the field of AI and government affairs. Considering the humongous data residing in governments, leveraging AI is a catchy 22 situation. While the potential benefits are huge, think about the mishaps if the intelligence fell on wrong hands or if AI makes a blunder. Human governance with frameworks, and guidelines will be the need of the hour in 2/3 years when this becomes democratized across industries and governments Exciting times #AI #artifificalintelligence

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🌟 Exciting Growth in Digital Banking in the UAE 🌟 Digital banks in the UAE are booming! Our CEO, Ghady Rayess, discusses the transformative role of the UAE Central Bank and FinTech innovations in a recent feature at Al Bayan Newspaper. Discover how new licenses, diverse payment solutions, and AI are shaping the future of finance. Read the full article 👇 #DigitalBanking #FinTech #Innovation #UAE

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National Bank of Fujairah has chosen Intellect Global Transaction Banking | iGTB's eMACH.ai to to enhance its digital capabilities 📲 🏦 🏢 NBF currently serves corporates and SMEs through its network in the UAE, and provides financial services to optimise commercial opportunities AND achieve sustainable growth for their clients. 🇦🇪 ☁ This partnership ALSO marks iGTB's FIRST cloud-managed service in this region and NBF can offer their clients a COMPREHENSIVE suite of solutions 👨‍💻 Manish Maakan, CEO of iGTB commented, “By selecting Intellect Global Transaction Banking, NBF has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business. NBF’s commitment to advancing its transaction banking infrastructure reflects the critical role of technology to drive growth and innovation in Commercial Banking.” He added, “This is our first deal to be hosted on eMACH.ai Cloud managed services in the region and is a significant step in UAE’s digital transaction banking landscape. Today, over 60% of the world’s best transaction banks #winwithiGTB and this deal signifies a pivotal step in cementing iGTB’s leadership position within the UAE & GCC market, underscoring our dedication to offering leading-edge digital banking solutions.” Read more on the link below 👇 Uppili Srinivasan Prashant Lalchandani Sachin Salian Shishir J. Amit Gupta Razia Ahmed Rajesh Saxena Nachu Nagappan #UAE #igtb #transactionbanking #digitalbanking #commercialbanking #GCC #cloudbanking #fintech #managedcloud

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Another step further in designing #UAE as a #AI hub. As soon as a country shows a strong commitment in a challenge the #businesses follow. Beyond the hype #AI is going to reshape the way we imagine the strategies in every business, and #MENA region seems to look far beyond...

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE’s Mashreq partnering with DBS Bank on near-instant #crossborder payments, #SaudiArabia’s Saudi Tadawul Group buying a stake in Dubai Mercantile Exchange (DME), #Egypt’s Banque Misr launching a #startup #accelerator, #Pakistan’s Pakistan Telecommunication Authority (PTA) proposing #OTT regulations, 15-year licenses, #Jordan seeing an 11% ▲ in digital payments as #digitalcards hit 6.4M, Qatar Airways exploring a 20% stake in Virgin Australia, Singtel and Grab injecting fresh funds into #Singapore #neobank GXS Bank, and #India's #MeitY overhauling the National Policy on Electronics to boost manufacturing. 🇦🇪 #UAE Abu Dhabi Investment Authority (ADIA) backs $53B hedge fund Jain Global LLC 🇸🇦 #KSA aramco has highest reserves amongst world’s largest oil companies 🇪🇬 #EGYPT Shops to shut by 10 PM as part of energy saving plan 🇵🇰 #PAKISTAN Mashreq Pakistan gets approval for #Islamic banking 🇧🇭 #BAHRAIN Bahrain Mumtalakat Holding Company ("Mumtalakat"​) announces investment in Racing Force Group 🌍 #MENA NVIDIA, Trend Micro partner on #AI #datacenter security 🇹🇷 #TURKEY Interest rate likely to remain at 50% with slowing #inflation 🇹🇷 #TURKEY rules out minimum wage hike to keep inflation in check 🇹🇭 #THAILAND Gulf Energy Development Public Company Limited, Google to launch #cloud operations 🇮🇩 #INDONESIA #EV ambitions get boost from regional supply chain shift 🇮🇳 #INDIA Flipkart launches #fintech #app super.money

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With the recent Federal Reserve rate cut, banks globally—and especially in the UAE—are preparing for the economic ripple effects that will define 2025. The cut brings temporary relief for borrowers and businesses but intensifies the need for UAE banks to look for alternative ways to plug potential revenue gaps. Here are three strategic avenues banks can explore to stay resilient and future-proof their business models: 1. Embedded Finance: As the embedded finance market continues to grow, UAE banks can seize this opportunity by integrating their services into non-banking platforms such as e-commerce or fintech. This will unlock new revenue streams and allow banks to expand their footprint beyond traditional banking. 2. Sustainability & Green Finance: With the global push towards ESG-aligned initiatives, offering green loans or sustainable investment products will cater to a growing segment of eco-conscious consumers. This is a chance for banks to diversify while meeting market demand for responsible finance. 3. Data-Driven Insights & AI: Leveraging AI and advanced data analytics, banks can offer personalized financial advisory services. By monetizing data and offering tailored solutions, they can transition from a fee-based model to value-driven services, deepening customer loyalty. Banks in the UAE will need to adapt quickly to these shifting dynamics, ensuring they are not solely reliant on fee income. By embracing innovation and sustainable practices, they can turn these challenges into growth opportunities. For insights on how banks and fintechs can diversify revenue streams in light of these changes, check out this article: https://lnkd.in/dPbiBrMi #BankingInnovation #EmbeddedFinance #SustainableBanking #RevenueDiversification #UAE #FedRateCuts

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#OpenBanking and #OpenFinance are set to become the next major wave, creating a vast market and unlocking significant potential in the MENA region. At the "Open Banking Hackathon 2024" in Riyadh, CMA Chairman Muhammad bin Abdullah Al-Quwaiz highlighted the incredible potential of the open banking market, projected to reach a staggering $43 billion by 2026! Join the revolution in financial services and innovation. #OpenBanking #OpenFinance #DigitalTransformation #Fintech

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Projects like this are shaping the future of blockchain and crypto! With a dual-layer approach, it connects traditional businesses to Web3, merging the best of both worlds. On one side, it opens doors for businesses not yet in Web3; on the other, it strengthens Web3 projects with a Swiss-regulated utility coin ecosystem. Exciting times ahead for innovation! 🚀 #Blockchain #Crypto #Web3 #Innovation

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The central bank's new digital platform is set to revolutionize government financial transactions: - Digitizes operations for enhanced efficiency. - Provides secure access to account information. - Boosts productivity and user experience. - Supports modern technological advancements in finance. - Streamlines government banking procedures. - Reduces processing times. In conclusion, this initiative promises to significantly improve the financial management of government agencies. #digitalplatform #centralbank #governmentbanking #digitaldevelopment

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Saudi Arabia's fintech ecosystem is on the rise, with Abyan Capital securing an impressive $18 million in Series A funding. The investment will help expand the Saudi-based robo-advisor's digital wealth management services in the region. This success is particularly impressive given the global contraction in fintech investments. Open banking has seen significant growth, with funding inflows exceeding $400 million in the past year. Abyan Capital's successful funding round highlights the country's commitment to fostering innovation in financial services. #fintech #investment #SaudiArabia

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