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
0

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.


LuLu breast cancer campaign recognized

LuLu Regional Director for Saudi Arabia Shehim Mohammed receives the award from Riyadh Governor Prince Faisal bin Bandar. (Photo/Supplied)
Updated 16 October 2018
0

LuLu breast cancer campaign recognized

LuLu Hypermarkets recently received a special recognition from Riyadh Governor Prince Faisal bin Bandar for its ongoing support to Zahra Breast Cancer Association in raising awareness on fighting breast cancer. LuLu Regional Director for Saudi Arabia Shehim Mohammed represented LuLu at the award ceremony held at the launch event of Zahra’s breast cancer month campaign.

The campaign announced the organization’s aim to focus on genetic screening for early detection, thereby helping reduce cases of the disease. 

Launched on Sept. 5, LuLu’s in-store campaign titled “Buy Green, Support Pink” aims at caring for the environment and giving back to society. For every customer’s purchase of a LuLu reusable bag, SR1 ($0.27) will be donated to Zahra.

“LuLu is deeply honored to be recognized for our CSR efforts by the Riyadh government. We believe that as a well-known retail destination, our dedicated service to our loyal customers goes beyond providing the best products, but more so to being a committed supporter of various social initiatives. Our sincerest gratitude to Zahra for working hand in hand with us to be an instrument of change for people in need,” Shehim said. 

LuLu has dedicated a special green checkout counter in its stores, where customers can have faster transactions that will save time in shopping when they use the reusable bags. This special counter has been permanently available in stores since the campaign launch.

LuLu has always been a key promoter of sustainability, environment protection, and the less fortunate people. Over the years, the retailer has initiated many projects toward these causes and hopes to continue to do so in the future.