Dubai, UAE – 6 July 2017 – Qarar today showcased its thought leadership and advisory in data-driven decisioning to over 100 senior banking executives at the EFMA Retail Banking Summit in Lebanon. The event aims to pave the way forward for disruption and innovation within the Lebanese banking industry, and in its third edition it offered a stimulating platform for leading technology and banking professionals to present their success stories, engage in interactive discussions with peers and discuss key issues facing the industry.
Together with senior bankers from the region, Qarar hosted a panel discussion that explored ways of optimising lending and credit decisions in the digital age. Panellists included Najib Anwar Choucair, Executive Director and Head of Banking at Banque Du Liban; Elias Aractingi, General Manager of Retail Banking at BLOM Bank; and Chris Skinner, Chief Executive Officer at The Finanser UK. The panel discussed ways to leverage existing data, optimise decisioning strategies, and re-design customer relationship models for the digital age in a sustainable and profitable manner.
Zaid Kamhawi, CEO of Qarar, commented: “The speed of digitization and automation is accelerating, so banks and financial institutions need a new strategic outlook for their business in 2017 and beyond. Top priorities should include data analytics and enhanced digital and customer experience, followed by process automation solutions. We achieve this across the customer lifecycle by employing the right mix of predictive analytics, market experience based advisory and decision technologies.”
Banks need to continuously provide value to their customers in order to match the pace of their demands and compete on a level playing field. Banks also need to successfully leverage their networks of suppliers, customers and employees to secure a central role in the digital ecosystem of the future. Organisations must harness critical technologies – such as AI, machine learning, analytics, block-chain, open APIs and cloud – if they are to deliver truly digitalised next-generation financial services.
The retail banking sector in Lebanon has developed immensely in delivering a variety of products and services for today’s consumers. The county’s banks have been evolving ever since their inception and are now inclined towards digitization; however, according to a recent study conducted by EFMA, the Lebanese banking market is not growing fast enough and a combination of regulations and digitization is shaping the market slowly. It is imperative for banks in the region to strategize and adapt to regional and global trends via more cost-effective channels.
Qarar is the region’s leading Decision Analytics company specialised in offering consulting, decision analytics and software technology to deliver tailor-made customer management and process automation solutions. Headquartered in Dubai and serving customers across the Middle East and North Africa, Qarar helps its clients to solve business challenges and achieve sustainable business outcomes. We achieve this across the customer lifecycle by employing the right mix of predictive analytics, and market experience based advisory and decision technologies. Our expertise spans Strategy, Pricing, Credit Risk Management, Marketing and Sales Analytics.