Technology ‘reshaping financial landscape’

MANAMA: Fintech has potential solutions to financial sector challenges like human capital, training, ecosystem, infrastructure and regulations, experts concur.

More than 500 industry leaders gathered at Gulf Hotel Convention and Spa yesterday at the Bahrain Association of Banks’ (BAB) annual forum to discuss fintech innovation.

BAB chairman Adnan Ahmed Yousif opened the forum, welcoming guests and setting the stage for the day’s discussions, under the patronage of the Central Bank of Bahrain (CBB).

He shared his thoughts on the revolution fintech is creating in the delivery of traditional financial services and the reshaping of the financial landscape with customers demanding greater inclusiveness, ease, speed and affordability.

Financial technology (or fintech) has created a revolution in the delivery of traditional financial services, reshaping the financial landscape as it meets customer demands for inclusiveness, ease, speed and affordability, he said.

Global fintech funding exceeded $31 billion in 2017, which brings the total global investment in the fintech sector over the past three years to $122bn.

A key highlight of the forum was CBB governor Rasheed Al Maraj taking the stage for an interview with CNBC news anchor Nuha Al Ali.

The governor highlighted key developments relating to fintech and the development of Bahrain’s financial sector as well as kingdom’s growing position as a regional fintech hub.

Source: http://www.gdnonline.com/Details/428632/