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At a Glance

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User Spotlight

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Fact Box

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Big Wins

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Buzz Feed

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Tech Talk

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Learn & Develop

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In The News

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On The Road

At a Glance

User
SPOTLIGHT

Path Solutions demonstrates successful implementation experience at Al Baraka Bank SA

FEB

1

2021
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alBaraka

Post-implementation, the platform has enabled our bank to modernize and customize processes, gave the bank a 360-degree view of its relationship with customers, which help us to successfully up-sell and cross-sell, a strong differentiating advantage.

Mohammed Kaka
Chief Operating Officer

Path Solutions assisted IDB Iraq to get AI-ready, move faster and smarter with iMAL*BI

JAN

19

2021

We are very satisfied with our choice of Path Solutions’ BI comprehensive solution and are already seeing the benefits. Most importantly, we could not have achieved this successful go live without the commitment and professionalism of both Path Solutions and International Development Bank teams. Your project team has demonstrated a high level of expertise, accompanying us all the way, complying with each requirement, and finally going live successfully remotely in the middle of a global pandemic.

Hisham Kamel Dahbur
Chief Information Officer

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Rajih Islamic Bank goes live on iMAL during COVID-19 imposed isolation

JAN

5

2021
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We are very pleased with the successful implementation of phase 2 of the iMAL project. This achievement represents an important milestone in project delivery – a testimony to the faith in Path Solutions’ capability. We went live smoothly despite the nation-wide lockdown and travel restrictions during COVID-19, via a 100% remote implementation. Path Solutions had to modify and extend the project management framework for shared visibility of the delivery management plan, since remote project initiation and implementation is not the standard practice for them. We appreciate their team’s efforts to keep our operations running and being supportive at every step. We thank them for their long shifts and dedication. Happy to have them as our valued IT partner.

Majid Hamid
IT Manager and iMAL Project Manager

Tech
TALK

CRMPlus
Re-Think CRM

Abstract

As financial globalization increases the competition and creates a climate of persistent change, winning and keeping customers has never been more vital. Nowadays, banks are realizing that customer relationships play a critical role in their success. Customer Relationship Management (CRM) could be an indispensable tool that can offer them assistance in building long-lasting relationships with their customers as well as increase revenues and boost profits. CRM in the banking sector is proving of far more significance than ever before.

Traditionally prospective customers chose their bank based on the convenience of the branch location. They rarely moved to other competitive banks unless serious issues have arisen. Today, as a result of technological development within the Fintech industry, customers can freely choose any bank for their business. With these awe-inspiring advances, a bank client base has been expanding beyond its immediate locale, and customers now have more banking options to choose from. Consequently, banks are becoming more customer-centric rather than product-centric which is being further reflected in their marketing strategy.

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Bachar Choucair

Senior Manager - CRM
Product Engineering
Path Solutions

Introduction

In recent years, CRM solutions have undergone sea-changes allowing banks to win the battle in the increasingly competitive environment. Modern programs have evolved for the digital age, incorporating direct communication and interaction with customers; in other words, a CRM software can help improve customer experience by resolving issues, streamlining the sales process and creating a unique ambience of loyalty and monetary trust among customers.

Leading this customer-focused approach is Path Solutions. We are committed to proactively tailoring our solutions to respond much faster to evolving business needs. And thus, we have designed seamless, open platforms powered by Microsoft Dynamics 365 for optimal customer engagement, truly customizable and adaptable to fit your business.

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CRMPlus - Seamless Platform

CRMPlus is an all-encompassing platform incorporating our standalone products. It is versatile enough to add on other Path Solutions’ products that respond to specific line-of-business. CRMPlus can be seamlessly integrated with any core banking system as well as other parallel systems, which simplifies the work for both partners and customers.

Currently, our CRMPlus solution can be implemented as a bundle of two separate solutions; CRMPlus for Banking and CRMPlus for Loyalty. It can also serve as an elastic model base where clients have the power to choose their first application (base application) based on their needs and upward scalability requirements. Clients no longer need to purchase all applications in one plan; plus they can scale their business on demand by purchasing an additional solution and attaching it on top of the base one, or keeping it as a standalone model where each solution can be purchased alone. Thus, acquiring this versatile model can enrich what we have to offer to our clients and plays an important part in the decision-making process.

CRMPlus for Banking

Rapidly changing customer expectations and needs in the digital age is one of the major challenges for banks. You can no longer expect your traditional way of doing business to meet the growing demands of the modern customer. Updated business practices incorporate the user experience into the business process, further engaging him and building a stronger and more lasting customer relationship.

There is no more excuse to not having deep knowledge about each individual customer, and his preferences and most common types of financial transactions. Unleashing the potential of Fintech in banking will provide consistent, easy and personalized customer journey to drive differentiation. CRMPlus for Banking manages all this and provides personalized offers, sets goal-based plans for corporate clients, and collects deep insights in an effective and time sensitive manner more than ever before.

Banks must be market-driven enabling exceptional, automated personalized experiences and convenience for millennials, as slow-footed will eventually fall behind their competitors. Path Solutions not only builds vertical business solutions but also integrates within a business strategy built on top of a technology platform, complete with business rules, behavior characteristics designed to engage the customer. Our set of solutions put customers at the heart of the banking business, further providing a mutually beneficial value in a trusted environment. CRMPlus for Banking continually provides an adaptable personal experience that enriches customer loyalty and business growth by focusing on four essential pillars:

  • Establishing customer-centric culture
  • Delivering personalized offers and services
  • Creating effective customer journey
  • Improving customer experience and loyalty.
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CRMPlus for Loyalty

The most successful companies put their customers at the heart of their business. As a dynamic entity, customer attitudes and trends are continuously changing, making it very hard for marketers to be able to keep up with a customer and track his changing behavior in order to respond efficiently to his needs.

In a hyperconnected world where innovation accelerates, a customer buying behavior is very likely to change and fluctuate at any time. It is up to intelligent businesses to rewrite their processes to align with the customer’s buying life cycle and new habits. By engaging the connected customer and efficiently tracking his purchasing behavior across different channels and in turn assimilating this information, will provide deep insights about each individual profile. Loyalty marketing programs can then run with more efficiency and can turn first-time customers into repeat customers.

Customer loyalty management has a natural relationship with CRM methodology. CRMPlus for Loyalty combines both methodologies making it one of the most strategic purchasing decisions for a bank to make. It gives a 360-degree view of the customer profile without having to integrate with more than one platform. CRMPlus for Loyalty does it all. This way banks can focus on maintaining direct relationships with their customers turning them into product and service advocates.

Fact
BOX

Mordor Intelligence’s CRM Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Research Future’s Global CRM Software Market Research Report - Forecast till 2027

Impact of COVID-19 on the CRM Software Market

SuperOffice’s CRM Benefits:
How CRM Improves Customer Relationships

Tech.co’s 93 CRM Statistics to Help You Understand the Software

Integros’ CRM in Banking

SuperOffice’s CRM Benefits:
How CRM Improves Customer Relationships

Learn &
DEVELOP

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Training on SQL Query Optimization

To sharpen the technical skills of our consultants, a training on SQL Query Optimization Techniques was arranged by the Product Engineering department for PE and GPSS teams. The training was designed to understand how to structure a SQL query based on in-depth understanding of the DB SQL optimizer and data distribution in the tables.

The objective of the training is to enable consultants to consider performance risk using algorithmic thinking, introduce tools and software used for monitoring, provide developers with performance solutions and approaches to solve issues and to highlight common algorithm mistakes and tips for managing complex queries.

Training on Omnichannel - Digital Banking Platform

The digital banking platform of Path Solutions provides comprehensive off-the-shelf features and functionalities to satisfy the digital banking needs of today’s customer-centric financial institutions across all their supported digital channels.

With the aim at familiarizing the company’s business consultants with the new Omnichannel - Digital Banking platform of Path Solutions, a functional training for the same was arranged by the Corporate Academy at the end of 2020. The training was attended by 40 participants from different departments across various subsidiaries. The Product Strategy & Management department delivered this engaging compelling training.

Training on CMMI Version 2.0

Our ongoing training programs reflect Path Solutions’ commitment to quality and continuous improvement of service delivery processes and client satisfaction by following the industry standards and practices. Embarking on the continuous improvement journey, Path Solutions is getting ready for Capability Maturity Model Integration (CMMI) V2.0, designed to improve performance and key capabilities, which aligns business goals directly with operations to drive measurable improved performance in terms of time, quality, budget, customer satisfaction, etc.

As part of this endeavor, a training on CMMI V2.0 was held from December 14-21, 2020. The training covered basic concepts, categories, capability areas, and practice areas for different maturity levels. This special training was provided by CMMI Consultants from SQC (Software Quality Center) and was attended by a team of CMMI champions consisting of 25 senior employees at Path Solutions. The objective of the training is to enable the team to plan, implement and ensure compliance with CMMI V2.0 Level 5 best practices leading to successful appraisal and certification within the targeted timeframe.

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Fixed Assets System Training

Effective asset management provides real benefits and cost savings to organisations. It is thus vital that bank officers have asset management competency. In order to get our business consultants familiar with the features and functionalities of the new version of the company’s Fixed Assets System and transfer that knowledge to our clients, a functional training on the solution was given by the Corporate Academy during the first week of January 2021.
More than 35 registered participants from different branch locations – Lebanon, Sudan, Pakistan, India and Bahrain attended the course which gave them the knowledge to record, track and manage fixed assets to enhance organizational profitability.

New Hires Induction Training

As business expanded, Path Solutions had to search for more qualified talents outside its current geographical locations. On the other hand, the company upholds the fact that a smooth induction process within the organization will give new employees the best possible start, and accordingly periodical induction trainings are arranged for new hires. During the first week of January 2021, the Corporate Academy and HR departments jointly arranged induction trainings to the latest batch of 15 recruits belonging to different departments. Induction and basic training on different topics were provided by senior staff members from the Corporate Academy, Human Resources, ICT, and GPSS departments as well as the Quality Management & Compliance department.

Business Intelligence Functional Course

Improving efficiency in all areas of the business is one of the most essential goals to remain competitive. Better business decisions are required for which data analysis and reports are inevitable. Plus, data warehouses store credible facts and statistics, and decision makers will be able to retrieve that information based on their personal needs. The Business Intelligence module of Path Solutions serves this purpose.

In order to help our business consultants get acquainted with the newly released solutions and take business to the next level, a hands-on business training course on the new BI system was arranged by the Corporate Academy on January 29 & 30. The course which was attended by 45 participants from various departments at Path Solutions introduced trainees to analytical tools and skills they can use to understand, analyse and evaluate the challenges and opportunities of megatrends and the ability to generate insights that are crucial to any organisation’s success, with a deep understanding of the integration and predictive analysis of high volume of unstructured data (big data) with data mining.

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iMAL Customization Training

The iMAL Java version is highly customizable by users which minimizes the need to depend on the Development team for small changes. The Product Strategy & Management department provided a training to the company’s business consultants on how to make iMAL customization and tailor the solution to meet our clients’ unique needs at a low cost.

The training that was held on 3 & 4 February 2021 covered screen customization, theme customization, how to create dynamic screens and others. Some 75 participants from the Product Engineering, Global Professional Services & Support and Product Strategy & Management departments from multiple locations attended the training.

Workshop on Agile Concepts

The current trend of software development life cycle is to move from the traditional waterfall model to various agile methodologies. Path Solutions, a global leader in Islamic core banking solutions, has already strategized an agile transformation roadmap for its solution suite.

As part of the agile transformation plan, a one-day workshop on Agile Concepts was organized by the Corporate Academy which provided the attendees with an understanding on the successful adoption of Agile Values and Principles. Also, it helped to know how to plan and implement solutions iteratively, manage user requirements and create backlogs. The various roles of a Scrum Team to boost productivity were also explained. The workshop was held on February 23 and 175 participants across all functional units of Path Solutions were present.

Technical Trainings on Microsoft BI

As part of Path Solutions’ strategy to build a large team of expert technical consultants to handle the Business Intelligence stack to effectively support clients, a series of technical training sessions were held during the month of March 2021. The topics covered Microsoft SQL Server, SQL Server Integration Services, SQL Server Analysis Services and SQL Server Reporting Services. Training sessions were followed by practical workshops that are in great demand in the data science community these days.

Big
WINS

Heartfelt Congratulations from Path Solutions
to our Award-Winning Clients

IFN Awards Best Banks 2020
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Best Islamic Bank
By Country

Global Business Outlook Awards 2020
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Banking

Global Business Outlook Awards 2020
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Finance

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LMD
The Pinnacle
of Awards
Service Hero
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Financial:
Islamic Banks

Service Hero
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Financial:
Retail Banks

Union-of-Arab-Banks
Union
of Arab Banks
Forbes Middle East
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Top CEOs
In The Middle East

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The Arab
Power List
2021
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2021 Savings Champion Awards
Global Banking & Finance Awards
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The Next 100 Global Awards 2020

Global Banking & Finance Awards 2021
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CSR Awards

Global Banking & Finance Awards 2021
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Fastest Growing Corporate Banking Awards

Global Banking & Finance Awards 2021
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Fastest Growing Retail Banking Awards

Global Banking & Finance Awards 2021
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Islamic Retail Banking Awards

Global Banking & Finance Awards 2021
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Micro & SME Banking Awards

Global Banking & Finance Awards 2021
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Retail Banking Awards

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CIO 300
Executive Awards
MENA 2021
Best Investment Bank Award 2021
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Country and Territory Winners

Best Private Bank Award 2021
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Country Awards

Best Bank Award 2021
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Best Banks in Africa 2021

Best Bank Award 2021
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Best Banks in the Middle East 2021

Best Bank Award 2021
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Best Banks by Region 2021

Best Islamic Financial Institutions 2021
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Global Winners

Best Islamic Financial Institutions 2021
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Regional Winners

International Business Magazine Awards
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Middle East

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5th IFFSA Awards

In The
NEWS

Mohammed Kateeb gives impassioned speech on SIDF at Green Iftar Webinar

APR

29

2021

At the 'Green Iftar' webinar that was held on Wednesday 28th April, the Group Chairman & CEO of Path Solutions, Mohammed Kateeb spoke about “Islamic Finance, Technology & Climate Change”. Kateeb emphasized on the importance of sustainable Islamic digital finance and its impact on UN 17 SDGs. He further explained how technological innovations have played an interesting role in addressing societal challenges throughout history, but with the integration of 4IR digital technologies, the possibilities are endless to create a more inclusive world and a more sustainable planet.

Bank of Abyssinia taps into Path Solutions to achieve Sharia compliance and operational efficiency

APR

19

2021

Path Solutions announced the signing of a new partnership agreement with Bank of Abyssinia (“BoA”), one of the leading banks in Ethiopia serving more than 4.6 Million customers through 580+ branches and Islamic windows.
As a new addition to Path Solutions’ fast-growing client base, BoA will be implementing iMAL*IslamicFinancing and iMAL*ProfitCalculationSystem for its Islamic window operations.

“After much research and due diligence on Islamic banking software, we chose Path Solutions’ iMAL for its broad and comprehensive set of features, flexibility, and compliance with AAOIFI’s Sharia and accounting standards”, said Abdulkadir Redwan, Director - Interest Free Banking at BoA. “Our partnership with Path Solutions is vital to ensure all Islamic requirements are met for our stakeholders, and to compete in the rapidly changing Islamic financial landscape in the country. The iMAL*PCS deployment will enable us to utilize the net income during the calculation period and distribute it among investors according to the Sharia guidelines. In addition to its advanced automation capabilities, this all-inclusive system will allow us to offer new Sharia-compliant products to our customers with a truly differentiated customer experience”.

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Path Solutions is a proud winner of the 2020 World Islamic Fintech Awards

APR

14

2021

Path Solutions just announced it has emerged as winner of the ‘Best Islamic Financial Software Provider’ category in the World Islamic Fintech Awards 2020 of REDmoney Group.

IFN Fintech spokesperson commented, “This prestigious title has gone to heavyweight Path Solutions which has built an empire over the last three decades, trying to find new opportunities amid chaos to advance its mission. The success of the company is driven by - among others - its strong focus on research and development (R&D). Today’s announcement builds on Path Solutions’ momentum as the company continues to drive impact with some of the world’s most innovative Islamic banks globally despite the unprecedented pressures from the global COVID-19 pandemic. Only recently, Path Solutions has signed a comprehensive software deal with Mogadishu-based Amana Bank to deploy a single, cloud-based digital banking platform to underpin the bank’s operations. Congratulations on a well-deserved accolade”.

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Mohammed Kateeb in a must-watch talk on blockchain technology at Fintech Echo 2021

MAR

12

2021

The Group Chairman & CEO of Path Solutions, Mohammed Kateeb was live on YouTube on Wednesday 10 March at 12:00pm GMT talking about the growing popularity and prevalence of blockchain technology. During the session ‘Blockchain in Fintech and the Rise of Crypto Finance’ that kicked off as part of Fintech Echo 2021 series hosted by Faster Community, Kateeb said that the financial industry is the number one industry interested in the blockchain technology in particular for cross-border payments and smart contracts, mainly for its privacy and security features. Blockchain attracts attention as an underlying technology for bitcoin and other cryptocurrencies.

Digital Onboarding for Financial Institutions Webinar hosts Mohammed Kateeb

FEB

17

2021

The Group Chairman & CEO of Path Solutions, Mohammed Kateeb spoke at the session entitled ‘Onboarding: The Key to Fintech Success’ organised by Alif Technologies in collaboration with the State Bank of Pakistan on Monday 15th February. According to Kateeb, the one upside of the COVID-19 pandemic is the fact that it revealed the glaring gap in the digitalization of onboarding processes in the banking sector. While this trend has certainly preceded the pandemic, COVID-19 has acted as a catalyst for it, and rightly so. Banks would do well to take the learnings from this crisis and adopt customer-centric, digital experiences. As financial players seek to achieve this, the world will see an increase of collaboration within financial ecosystems, as incumbent players and fintechs will embrace the benefits of cooperating together rather than by competing with each other.

Path Solutions assisted
IDB Iraq to get AI-ready

FEB

4

2021

Path Solutions announced that International Development Bank (“IDB”) in Iraq - one of the fastest growing banks in the region, has successfully gone live with iMAL*BI.

“We believe that the future involves a number of disruptive changes that banks worldwide will have to prepare themselves for. Business Intelligence has quickly become a key tool for leading banks to drive profitability, reduce risk, and create competitive advantage, and banks of all shapes and sizes will have AI-powered banking applications in the very near future. We are very excited about the deployment of the new iMAL*BI solution. Now that the intelligent era advances, we should be able to meet the demands of the market for faster innovation and increased customer satisfaction”, commented Dr. Ziyad Khalaf Abed, Chairman of IDB Iraq.

iMAL*BI will enable IDB to improve the fact-based decision making, offer personalized services to its customers, augment users’ decisions with data-driven insights, and maximise straight-through processing (STP) rates for financial transactions at reduced cost with limited or no human intervention.

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Mohammed Kateeb, Guest Panelist at the 4th WIEFC 2021

FEB

2

2021

The Group Chairman & CEO of Path Solutions, Mohammed Kateeb was the main speaker at the session entitled ‘The World of Technology Finance: Is Fintech & the Advent of Bigtechs a Boon or a Bane to Banking and Finance’, that kicked off as part of the 4th World Islamic Economics and Finance Conference held virtually on 30 & 31st January and organized by Minhaj University.
Kateeb described how Bigtechs, the likes of Amazon and Google are causing disruption to the financial sector, prompting traditional banks to launch sophisticated, highly personalised financial products and services to their customers using data and analytics capabilities. Path Solutions’ keen focus on Islamic finance and the company’s own digital and intelligent platforms can assist Islamic financial institutions through their technology transformation journeys, ensuring higher customer satisfaction, and efficiency improvements with automation, collaboration and reporting.

Lessons to learn
from Abdo Chalhoub
on Crisis Governance

JAN

30

2021

The Institute of Internal Auditors in Lebanon in partnership with the Institute for Finance and Governance (IFG) held an online conference under the theme “Resilience in Crisis Governance at Work” from January 25 to 29. Abdo Chalhoub, Executive Vice President - EPMO & ICT Professional Services at Path Solutions took the helm. He spoke about crisis management and business continuity at work, and how decisive it can be for organizations in responding with agility to multiple scenarios that have been rehearsed and already tested to prevent damage.

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Mohammed Kateeb, panelist at Fintech Panel 2021

JAN

21

2021

This year’s Fintech Panel held online on 20 January welcomed an impressive panel of finance and technology leaders from four continents who discussed the current state of finance and IT-enabled financial services. Mohammed Kateeb, the Group Chairman & CEO of Path Solutions explained during his session how customers are becoming the driver of change and innovation, and how over the last decade, fintech startups have disrupted the business models of the core areas of the legacy financial services industry such as lending, payments, as well as financial advice, and embraced AI, digital, structured trade finance, blockchain technology and crypto-assets to drive innovation and reinvent the financial landscape.

Buzz
FEED

On The
ROAD

Virtual

Arab Digital Banks Summit 2021

18 - 20 May 2021

Virtual

Online Launch of CIBAFI Global Islamic Bankers’ Survey 6th Edition: “Islamic Banking Sector: A Look into the Future"

25 May 2021

Virtual

Islamic Banking and Finance: Theory & Practice

5 June 2021

Virtual

Banktech Award

9 June 2021

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