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.


Bank Al-Bilad leaders benefit from Ashridge program

Updated 19 July 2018
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Bank Al-Bilad leaders benefit from Ashridge program

More than 20 senior leaders from Bank Al-Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st century leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high-performing teams to succeed within the dynamic and fast-moving Saudi banking sector.
With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the bank’s leaders today, but also to unlock emerging opportunities in the future.
Haitham Al-Medainy, general manager of Bank Al-Bilad, said: “Banking executives must constantly evolve their strategic platforms to keep pace with emerging challenges. In our sector, change is constant — from changing regulations to economic movements — and our leaders need to be prepared to tackle these issues with a focus on organizational leadership. The Ashridge program combined leadership development with strategic thinking and gave them hands-on development in solving their daily business challenges.”
The program was led by Ashridge’s international faculty team of Colin Williams and Tony MacRae. “This was an exciting collaborative partnership with Bank Al-Bilad, and a great opportunity to engage with and develop the bank’s leaders around their essential leadership and strategic capabilities necessary to successfully compete in today’s complex and challenging marketplace,” they said in a statement.
Established in 1959, Ashridge is a leading business school for working professionals with an international reputation for leadership development. It is among the 1 percent of business schools globally accredited by AMBA, EQUIS and AACSB; these are the highly regarded benchmarks of quality and standards in business education worldwide.
Each year it works with over 6,000 managers from 850 organizations in 60 countries by helping them to develop their leadership capabilities.
Regionally, Ashridge has over 20 years’ experience in the Middle East, designing and delivering senior leadership assessment and development projects.