Blockchain will transform banking customer experience, Avaya tells industry leaders

Fadi Hani, vice president, Avaya, Middle East and Africa and Turkey, at the 24th World Islamic Banking Conference.
Updated 08 December 2017
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Blockchain will transform banking customer experience, Avaya tells industry leaders

Emerging technologies such as blockchain will transform customer experience in the banking sector, enabling organizations to gain greater insight from customers’ data, Avaya announced at the 24th World Islamic Banking Conference. Blockchain could be used to transform how customer satisfaction is monitored by regulatory bodies, and how banks control identity management, amongst other innovations, Avaya told delegates at this week’s event.
Many organizations today are struggling to turn the huge volumes of data they have about their customers into actionable insights. For banks, this issue is particularly important as they have to meet strong regulatory compliance standards, combat online fraud and meet their digitally savvy customers’ expectations. Failing to deliver the required customer experience can be costly for banks: More than half of Saudi banking customers and four in 10 of UAE customers would change their banks if they received bad service, according to Avaya’s recent Customer Experience in Banking survey.
“For many organizations, blockchain in banking begins and ends with cryptocurrency applications. However, Avaya is committed to leveraging so-called disruptive technologies like blockchain, artificial intelligence and analytics to drive innovation in customer experience,” said Fadi Hani, vice president, Avaya, Middle East and Africa and Turkey. “By helping organizations gain greater value from the data they collect, and make life easier for their customers, we can enhance customer satisfaction, ensure greater compliance and reduce fraud.”
Avaya recently showcased at GITEX Technology Week in Dubai the Happiness Index on Blockchain, a solution that demonstrated how companies and government organizations can leverage blockchain to securely collect and integrate data from multiple sources to dynamically measure satisfaction levels. Banking regulators could use such a solution to measure customer service levels across different banks, Hani told conference delegates in his presentation.
“Moving forward, Avaya is committed to open technology platforms that allow us to integrate these technologies in new ways to bring even greater value to our customers and partners across the region,” Hani said.
According to PwC, financial institutions in the Middle East are launching initiatives to understand possible business and operating model for blockchain solutions.


Motoring extravaganza SIMS 2018 begins in Jeddah

Updated 45 min 34 sec ago
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Motoring extravaganza SIMS 2018 begins in Jeddah

The Saudi International Motor Show (SIMS) 2018 opened its doors on Sunday at the Jeddah International Exhibition and Convention Center. The annual event, in its 40th year, will continue until Thursday.

The show was inaugurated by Hassan Dahlan, secretary general of Jeddah Chamber of Commerce and Industry (JCCI), in the presence of Hadi Al-Harith, CEO of Al-Harithy Company for Exhibitions (ACE).

The five-day motoring extravaganza, spanning 10,000 square meters of indoor and outdoor exhibition space, will witness the rollout of the automotive industry’s newest models, from the US, Europe, Japan, Korea, and China, and including the latest SUVs and 4x4s, industry-changing electric cars and everything in between.

“In addition to shining the spotlight on the latest and most efficient automobiles and industry-shaping technology, the 2018 Saudi International Motor Show offers an inimitable experience for the whole family, with a plethora of captivating activities and interactions throughout the five days including stunt driving, drifting motorsport events, an off-road experience, and retail areas,” a press release said.

The show will see brand exhibitors showcase 100 automotive vehicles, including eight cars revealed for the first time in Saudi Arabia.

Speaking at the inauguration, Dahlan talked about the “great success” achieved by the motor show in the past 40 years.

ACE CEO Al-Harith said: “SIMS is the oldest and biggest auto show in the region, and the 2018 edition will ensure that it maintains that position. There is a huge demand in the Saudi market for an international motor show and we look forward to delivering a unique experience.”

He added: “As Saudi Arabia’s premier automotive event, the Saudi International Motor Show is the only place car fans, young and old, will get up close to some of the latest glamorous cars set to be hitting roads around the world in the near future.”

The Jeddah Traffic Department is also participating in the show, with the aim to spread its message to both male and female drivers. Officials from the department will spread awareness about traffic laws and regulations, the importance of following them and the consequences of violations.

The show opens daily from 4 p.m. until 11 a.m.

Saudi Arabia is currently the largest importer of vehicles and auto parts in the Middle East, accounting for nearly 40 percent of all vehicle sales in the region. New car sales are slated to rise by 8-9 percent annually, crossing the 1 million mark by 2020.

Presently, the light commercial vehicle segment is the most dominant, accounting for majority of the overall commercial vehicles sold in Saudi Arabia, followed by medium-heavy commercial vehicles and buses.