Finastra software powers nearly 8,100 financial institutions worldwide, including 45 of the top 50 global banks.
Dubai, UAE – Finastra, a global provider of financial software applications, took center stage on the opening day of the Dubai Fintech Summit to spotlight how advanced technologies are transforming banking into a more seamless and customer-centric experience.
Siobhan Byron, Executive Vice President of Universal Banking at Finastra, joined a high-profile panel “Era of Frictionless Connectivity: The Rise of Digital Banking”, where she explored how financial institutions can adapt to the rapidly evolving expectations of today’s digital-first consumers.
Organized by the Dubai International Financial Centre (DIFC), the two-day summit gathered global thought leaders, regulators, and innovators to chart the future of fintech.
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During the panel, Byron emphasized that modern consumers demand real-time, personalized financial services that can be delivered through any channel they choose, whether online, mobile, in-branch, or at the point of sale. It was noted that nearly three-quarters of Middle Eastern banks say that evolving expectations have highlighted weaknesses in their organization’s current customer experience.
To meet these demands, banks are increasingly turning to AI, data analytics, and omnichannel strategies. As intelligent assistants and GenAI-powered tools begin to anticipate customer needs before they arise, Agentic AI promises to further personalize and automate customer interactions. But Byron warned that as services become more seamless, banks risk losing personal connection with customers. Maintaining a consistent, customer-centric brand experience, even across third-party ecosystems, will be critical.
Finastra also highlighted insights from its Financial Services State of the Nation Survey 2024, revealing that banks in Saudi Arabia and the UAE are aggressively modernizing their operations, embracing cloud technologies and API-led platforms. This digital transformation allows banks to act as innovation hubs, offering highly customized products and managing complex partner ecosystems through seamless integration.
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The discussion highlighted the urgent need for core banking transformation. Legacy systems, Byron explained, are often a barrier to agility and innovation. Modern end-to-end platforms that support seamless integrations and real-time data insights enable banks to enhance efficiency and respond rapidly to market needs.
For Finastra, whose software powers nearly 8,100 financial institutions worldwide, including 45 of the top 50 global banks, the message is clear: future-ready banking requires bold innovation, intelligent platforms, and customer-first design.