Global experts outline strategies to accelerate lending transformation, digitize trade and supply chain finance, and advance sustainability in banking
Dubai, UAE – January 15, 2025 – Finastra, a global provider of financial services software applications, hosted its Corporate Banking Forum in Dubai, spotlighting how technologies like artificial intelligence (AI) and end-to-end digitization are transforming the global corporate banking landscape. The event attracted top voices from banking, technology, and fintech, revealing actionable strategies to overcome challenges and capture opportunities in an evolving market.
The speakers included leaders from Finastra’s Lending business unit, such as Manish Joshi, Arvind Vairavan, Carlos Teixeira, Manikandan Ganesan, as well as from institutions such as Dubai Future Foundation, CredAble and Microsoft.
Key insights from the event include:
- AI has the power to reshape corporate banking by 2030
Artificial intelligence (AI) could have a significant impact on corporate banking within the next decade, replacing traditional roles with autonomous agents capable of managing transactions, providing real-time financial advice, and enhancing customer experiences. Generative AI (Gen AI) can enable hyper-personalization, allowing banks to offer corporate customers predictive recommendations and tailored insights based on their historic and current data. By 2030, AI is expected to contribute $1.5 trillion to the global economy, potentially driving significant growth and innovation in the financial sector.
- Unleashing supply chain finance (SCF) potential in the GCC
The GCC region’s supply chain finance market remains largely untapped, with significant opportunities for banks to drive efficiency and inclusion. Only a fraction of the market has been penetrated, leaving room for digital platforms and AI to enhance SCF processes, support SME growth, and streamline working capital solutions.
- Digital lending ecosystems redefining efficiency
End-to-end digitization is enabling faster loan processing, enhanced user experiences, and seamless compliance with regulations like ESG mandates. Finastra’s Loan IQ platform exemplifies this transformation, potentially reducing transaction steps by up to 50%, and integrating enhanced covenant monitoring as well as the tracking of ESG metrics to align with sustainability-linked financing goals. Fintech ecosystems, underpinned by the principles of Open Finance, are accelerating digitalization efforts by fostering collaboration between financial institutions, fintechs, and technology providers to push innovation and accessibility.
- Emerging technologies as catalysts for growth
Technologies such as blockchain, machine learning, and optical character recognition (OCR) are driving operational efficiency and innovation. These tools empower banks to develop customized financial products, improve treasury functions, and manage risks more effectively.
- Sustainability and ESG integration are non-negotiable
As the MEA region sees a surge in ESG-driven investments, Finastra urged banks to prioritize sustainability-linked financing and robust ESG metrics. AI is revolutionizing how financial institutions track, report, and deliver on sustainability commitments, helping to tackle greenwashing fears and drive responsible growth.
You must be logged in to post a comment Login