RETAIL BANKING
Enduring Partnership Colin Dallas Head of Retail at NBF explains that seeing themselves as a financial partner for clients, reflects how important customer loyalty is to them and with this in mind, their approach to ongoing innovation in banking is to build longlasting successful partnerships with customers
Colin Dallas, Head of Retail at NBF
22
Banking and Finance news in the MEA market
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h a t key a c t i o n s should the region’s retail banks take to ensure they thrive in the near to medium term?
Retails banks play an important role to further place the country on the right track towards economic recovery. As we move ahead, innovation and digital transformation will continue to be on the top priority list of most banks. The UAE is not a newcomer to the digital age; rather, innovation sits at the centre of the country’s vision for the future. In addition, the young generation has a lot to do with impacting the existing landscape. Mobile wallets and cashless payments have now become second nature across the country. What is now required more than ever is for retail banks to internalise and accelerate the current trends and stay agile and nimble in order to fit into the new mould of this digital age. While doing so, banks should maintain client-centricity at the heart of their digital initiatives. Any digital offerings will need to respond to client needs and preferences instead of responding to trends. In addition, banks need to consider the adoption and acceleration of ESG as carbon footprint and issues related to climate change continue to become key priorities in the business agenda across sectors and industries. At NBF, we see ourselves as a financial partner for clients across their professional and business needs. Although many have seen an acceleration in digital transformation plans as a result of the pandemic, we have been on this path long before. In fact, we have made significant advancements in digitization resulting in improvements in customer experience, enhanced efficiency through automation and optimisation, improved
