The Integrator

Dear Readers,

In this issue of The Integrator, we will be delving into the significance of marketing technology in driving business growth. The rapid progress witnessed in our contemporary world, spanning from the emergence of social media platforms to the rise of artificial intelligence (AI), has undeniably transformed the marketing landscape. Traditional approaches that revolve around organizing events and promotional activities have given way to a new era where leveraging cutting-edge technologies is essential for creating widespread awareness.

The evolution of marketing technology has revolutionized the way businesses connect with their target audiences. Today, it is crucial for companies to embrace the vast array of technological tools available to them. These tools empower marketers to reach out to a larger customer base, create impactful campaigns, and achieve tangible results.

One of the most prominent developments in recent years has been the proliferation of social media platforms. These platforms have become instrumental in facilitating direct and interactive communication between businesses and their customers. Marketers can now leverage social media to not only raise brand awareness but also engage in meaningful conversations with their target market. Additionally, social media analytics provide valuable insights into consumer behavior, allowing businesses to refine their strategies and optimize their marketing efforts.

Another major advancement in marketing technology is the utilization of AI. Artificial intelligence has opened new possibilities for businesses to automate and streamline their marketing processes. AI-powered tools can analyze vast amounts of data to generate actionable insights, enabling marketers to make data-driven decisions.

In conclusion, the integration of technology into marketing has become essential for businesses aiming to thrive in today's competitive landscape.

Stay tuned for our in-depth exploration of various marketing technologies and their practical applications in the upcoming articles.

FACEPHI COLLABORATES WITH QASHIO TO ENTER THE MIDDLE EAST MARKET

a significant majority, 94%, of consumers in the UAE worry about the risk of banking or credit fraud as the banking industry is digitized. According to Deloitte's latest Middle East Fraud Survey, almost half (48%) of the organizations reported a higher number of fraudulent incidents in 2021 than in previous years.

Spend management fintech Qashio has partnered with a global leader in digital identity verification, Facephi to further secure their digital identification processes. Qashio’s customers will now be able to use biometric technology by Facephi, marking the publicly traded company’s first contract and entrance into the Middle East.

Facephi's technology will provide Qashio’s corporate customers with an

improved user experience and security when registering their employees to issue corporate credit and debit cards and authorising them to use the cards. The process will be secure, stable, and easy for end users. Qashio users will need to take a photo of their ID card on both sides using their mobile device so that Facephi's technology can read and capture their data using both Latin and Arabic alphabet characters.

A survey’s results showed that

Jonathan Lau, CPO & Co-Founder of Qashio, commented: "Partnering with an established provider like Facephi, which already provides its services to global banking giants such as Santander & HSBC, allows us to provide services in both English & Arabic across multiple countries, and elevates our offerings by bringing global security and KYC standards to clients in the region. Facephi's biometric technology will help us develop our processes in a more agile, quicker, and easier way, with the peace of mind that we will avoid digital identity theft attacks.”

Enrico Montagnino, General Manager of Facephi EMEA, values this contract signing as "an important milestone in the company's expansion strategy”.

CISCO LAUNCHES FULL- STACK OBSERVABILITY PLATFORM

Cisco has announced the launch of a new Full-Stack Observability Platform—a vendor-agnostic solution that harnesses the power of the company’s full portfolio. It delivers contextual, correlated, and predictive insights that allow customers to resolve issues more quickly and optimize experiences, while also minimizing business risk.

This industry-leading offering enables a new observability ecosystem that brings data together from multiple domains including application, networking, infrastructure, security, cloud, sustainability, and business sources.

“Full-Stack Observability is critical in today’s digital-first business environment,” said Liz Centoni, Executive Vice President, Chief Strategy Officer, and General Manager, Applications at Cisco. “Cisco Full-Stack

Observability brings together network intelligence, security insights, and application observability across the multi-cloud environment and the full technology stack to enable enterprises to deliver unmatched digital experiences with deep business context.”

Cisco’s FSO Platform is focused on OpenTelemetry and is anchored on Metrics, Events, Logs, and Traces (MELT), enabling businesses to seamlessly collect and analyze MELT data generated by any source.

CISCO FSO PLATFORM APPLICATIONS: CLOUD NATIVE APPLICATION OBSERVABILITY

Cloud Native Application Observability is the premier solution delivered on Cisco FSO Platform. It helps customers achieve business outcomes, make the right digital experience related decisions, ensure performance

IT GROWTH IN SAUDI ARABIA: HYBRID MULTICLOUD AND HOSTED SERVICES

Nutanix has announced the findings of its fifth annual Enterprise Cloud Index (ECI) survey, which show that organizations in the Kingdom of Saudi Arabia plan to move their hybrid multicloud deployments from 7% penetration today to 51% penetration in three years. They also plan to swap much of their exclusive use of on-premises IT infrastructure for hosted datacenter services, slashing on-prem infrastructure from 39% today to 0% within three years, while increasing their use of hosted services by three-fold.

KEY SAUDI FINDINGS FROM THIS YEAR’S REPORT INCLUDE:

Enterprises in Saudi Arabia trail the global averages in mixed IT deployments but have aggressive three-year plans to catch up. Less than half of Saudi companies (45%) currently use multiple IT modes. This is substantially lower than the global average (60%).

 Data security and backup protection are the biggest IT infrastructure criteria. When asked to

name the single most important factor when making an IT infrastructure decision, respondents from Saudi Arabia chose cybersecurity (15%) and data protection/recovery (15%) most often as the top ones, in equal measure, followed closely by data sovereignty considerations (14%).

 Mixed environments create new challenges and demand for a single place to view and manage all workloads and data.

 All Saudi respondent organizations moved applications between infrastructures in the past 12 months.

“Increased infrastructure diversity, along with a heightened emphasis on data storage, management, security, and services, is driving all IT pros in Saudi to seek hybrid operations that transcend private and public infrastructure,” said Mohammed Abulhouf.

alignment with end-user expectations, prioritize, and reduce risk while securing workloads.

In addition to Cloud Native Application Observability, the first set of modules on Cisco’s FSO Platform are:

• Cost Insights: Provides visibility and insights into application-level costs alongside performance metrics, helping businesses understand the fiscal impact of their cloud applications, while also supporting sustainability efforts.

• Application Resource Optimizer: Provides visibility into Kubernetes workload resource utilization, so businesses can maximize resource usage and reduce excessive cloud spend, helping them meet financial targets and sustainability goals.

QUALYS ANNOUNCES DEPLOYMENT OF NEW CLOUD PLATFORM IN SAUDI ARABIA

for threat actors. Entities like NCA [National Cybersecurity Authority] and SAMA [Saudi Arabian Monetary Authority, the Kingdom’s central bank] are implementing cybersecurity regulations that protect citizens and residents, such as mandating hosting of data in-country. The Saudi Qualys Cloud Platform is the ideal solution for companies and government entities looking for flexible visibility and control while ensuring they remain compliant with these new regulations.”

Qualys launched Qualys Cloud Platform (CP) in Saudi Arabia to help organizations across the Kingdom to localize their cybersecurity and comply with an array of regulatory requirements, including those related to data residency.

“Qualys’ cloud service is built for visibility in a cloud-first world, helping public and private enterprises to take back control of their environments

while ensuring that data remains within their domestic borders,” said Hadi Jaafarawi, Managing Director, Middle East, at Qualys.

“Saudi Arabia’s public and private sectors are transforming rapidly to align with the principles set out in Vision 2030, but recent expansions in the attack surface, brought about by cloud migration and remote work, make these innovators prime targets

Saudi Arabia is currently the largest ICT market in the Middle East and Africa (MEA) region and according to IDC , cybersecurity spending in the Kingdom stands at 2.77B SAR (approx. US$720M) in 2023, growing at a CAGR of 12.7% from 2021 – 2026. As the Kingdom’s technology investment moves from an infrastructure- and productcentric model towards value-added professional services, government authorities have recognized the need to secure disparate architectures. Recent regulatory additions have concentrated on vulnerability, patch management and data residency.

PIXAR PARTNERS WITH VAST DATA FOR NEW FILM AND BEYOND

VAST Data, the data platform company for the AI era, announced that Pixar Animation Studios, a subsidiary of the Walt Disney Company, selected VAST as the key data platform collaborator for the company’s data intensive feature animation production, including its latest, “Elemental,”.

Pixar began working with VAST in 2018 as it first pioneered new animation techniques using volumetric rendering for their acclaimed 2020 film titled, “Soul.” Its newest feature, “Elemental,” required a new way to scale these detailed volumetric characters and environments. Unlike the geometric surfaces and materials used in earlier Pixar projects, the broadly-applied volumetric animation methods used in “Elemental” created six times the data footprint and computational demands for data than that of “Soul.”

To meet the technical requirements of the Pixar creative team, Pixar turned to the VAST Data Platform to power the demanding render pipeline for Elemental as well as Pixar’s other ongoing and future productions. By moving 7.3 petabytes of data to a single datastore cluster that is managed across one high-performance namespace organized from low-cost flash - VAST provides real-time access to keep Pixar’s renderfarm constantly busy while enabling improved observability and analytics, simplified collaboration and development across multiple productions running at the same time, and laying the foundation to leverage AI and deep learning for future films.

“Pixar is the world’s leading innovator in animation, and in order to continue to deliver new stories, breath-taking visual environments and memorable

SALESFORCE CELEBRATES PARTNER GROWTH AND SUCCESS IN MIDDLE EAST

Salesforce has announced the winners of its annual Middle East Partner Awards 2023 across 10 categories.

The Middle East Partner Awards event, which was held at the Madinat Jumeirah in Dubai as part of Salesforce World Tour Essentials Dubai, gathered more than 1,500 attendees across Salesforce’s regional ecosystem.

Salesforce’s partner network experienced robust growth of 46% year-on-year by the end of Q1 2024 (January 31, 2023). Over the same

time, the total number of Salesforce certifications rose by 51.5% to reach 3,673.

“The spectacular growth of our partner network is a reflection of both the success of our partner program and the surging demand for solutions that help organizations put their customers at the center of everything they do,” Mukesh Kumar, Regional Vice President for Salesforce Alliance & Channels Middle East, said. “This level of growth made the 2023 awards a truly special occasion, with an eclectic

mix of regional partners and global system integrators, and partners covering newly represented sectors including telco and financial services competing for awards.

“What these awards really demonstrate is that we value our partners as extensions of our organization: We are members of one family and share similar core values. This is vital to ensure we work as one unified team, focused on our customers’ transformation journey and success in the Middle East.”

characters - we require the industry’s most innovative technologies to help us bring the animators’ vision to life,” said Eric Bermender, Head of Data Center & IT Infrastructure at Pixar Animation Studios. “‘Elemental’ is the most technically complex film that Pixar has ever made, but with VAST we were able to build beyond our current level of animation and consider new techniques that no one had ever considered before because we didn’t have the technology in place to support it. VAST’s technology has allowed us to change the way we store and access data while also opening the door to new potential visual pipelines.”

IDC FINANCIAL SERVICES CONGRESS: LATEST DIGITAL TRANSFORMATION TRENDS IN THE MIDDLE EAST'S BFSI SECTOR

International Data Corporation hosted the Middle East edition of its IDC Financial Services Congress 2023 at The Ritz-Carlton, Dubai International Financial Centre. The exclusive event brought together more than 120 industry leaders and experts to explore the adoption and utilization of digital technologies in the region's rapidly evolving banking, financial services, and insurance (BFSI) sector.

Hosted under the theme 'The Adoption and Utilization of All Things Digital', the IDC Financial Services Congress 2023 featured keynote speeches, presentations, and panel discussions on a variety of critical topics, including open banking, cloud management, AI/ML integration and industrialization, digital core systems, innovation excellence, cybersecurity risk typologies, frictionless banking, financial wellbeing, financial inclusion, employee empowerment, digital trust, and customer consent.

Cyrus Daruwala, managing director of IDC Financial Insights Asia/Pacific, presented the event's opening keynote, 'Simplification in an Age of Complexity', explaining how digital transformation and the adoption of a new organizational mindset will be key to enabling financial institutions to meet the challenges of tomorrow.

"Traditional financial institutions are facing fierce competition from digital banks and insurers that leverage data to deliver innovative products and services," said Daruwala. "To overcome these challenges, institutions must foster an organizational culture that prioritizes trust,

resiliency, transparency, sustainability, productivity, and efficiency for the digital-first BFSI organization."

A major highlight of the IDC Financial Services Congress 2023 was a session titled 'Hacking a Billion Dollar Bank', presented by renowned ethical hacker Glenn Wilkinson. Drawing on his unique perspectives on cybersecurity, he led the audience through the life of an underground hacker who compromises a large bank. Using a live demonstration, he showed how hackers profile companies, identify their weak spots, and ultimately break in to steal sensitive information.

The event also featured a series of fascinating panel discussions on topics such as 'Creating Hyper-Personalized Digital Banking Experiences', 'BFSIs Tapping into FinTech Innovation: A Win-Win Situation', and 'How Artificial Intelligence is Reshaping Critical BFSI Operations'.

Embracing trust, resilience, and efficiency is key for traditional financial institutions to succeed in the digital era."

LEVERAGING THE POWER OF MARKETING TECHNOLOGY

Tailoring marketing technology solutions to address sector-specific needs and challenges

The marketing technology landscape is rapidly evolving, and it is crucial for companies to take a customer-centric approach and carefully integrate new technologies within their MarTech stack based on specific marketing goals, target audience, and industry landscape. The MarTech stack encompasses various technologies, including Customer Relationship Management (CRM) systems, marketing automation platforms, data analytics and business intelligence tools, content management systems, personalization with AI-driven technology, social media management and listening tools, and more.

By leveraging the right combination of these tools, brands can optimize their marketing efforts, enhance customer experiences, and deliver relevant brand messages across multiple channels.

While it is true that not all technology is based on AI, the adoption and integration of AI technologies offer tremendous potential for

customization and optimization in marketing planning, strategizing, executing, and finally reporting.

Key marketing technology strategies for boosting brand awareness and attracting new customers

Brand awareness is the net amount of knowledge about a brand that exists within a community. It can be within a specific customer base, for instance, or the culture in general.

The effectiveness of marketing technology strategies may vary based on the industry, target audience, and specific business goals. Here are some key methods to consider:

• Develop a strong brand identity that resonates with your target audience.

• Conduct brand awareness campaigns to highlight your brand value proposition.

• Embrace a multichannel presence to establish a consistent brand experience and reinforce brand recognition.

These strategies, along with datadriven targeting, personalization, automation, customer journey

mapping, and performance tracking, empower marketers to maximize their impact on brand awareness and customer acquisition.

Effective audience targeting and engagement through marketing technology platforms

Marketing technology platforms play a crucial role in effectively targeting and engaging desired audience segments. With the increasing importance of digital transformation, organizations recognize the significance of digital channels for customer engagement. Today, technology is available across platforms and mediums, whether it's for small and mediumsized enterprises (SMEs), customer relationship management (CRM), AI automation, and more. Companies must ensure that technology aids them in the planning process and enables accurate measurement of success to gather precise data on consumer behavior in both B2B and B2C contexts. An example of this is GfK's Consumer Life Study, which we recently launched at our Insight Summit event in Dubai.

Gonzalo Garcia Villanueva - Global CMO, GfK

HOW YOU CAN LEVERAGE MARKETING TECHNOLOGY FOR COMPETITIVE SURVIVAL AND GROWTH

Few of the key points are here: Adaptation is Key: The ever-changing nature of customer demands and market dynamics necessitates continuous adaptation for businesses. What may be valuable to customers today may change tomorrow.

Stagnation and resistance to change can lead to losing the competitive edge. Embracing marketing technology allows companies to keep up with evolving trends, adopt new mediums, tools, and processes, and ensure their offerings remain in line with customer expectations.

Automation for Efficiency: Marketing technology enables companies to do more with less by automating various marketing processes. This automation frees up valuable time and resources, allowing businesses to focus on highvalue tasks and strategic initiatives. Automation can streamline customer onboarding, improve communication workflows, and enhance overall efficiency, leading to cost savings and increased productivity.

Personalization for Enhanced Engagement: Personalized communication has become a necessity rather than a luxury in today's marketing landscape. Marketing technology facilitates personalized experiences by leveraging data analytics. By understanding customer preferences and behaviors, businesses can tailor their marketing efforts to specific audiences, delivering relevant and engaging content. Personalization fosters stronger connections with customers, increasing engagement, loyalty, and ultimately, driving business growth. Expanding Market Reach: Companies can leverage innovative technologies to expand their market reach and

In a recent conversation with Eric Jacob, Marketing Director at Tradewind Group, the critical role of marketing technology in today's fiercely competitive business landscape was highlighted. With customer preferences and market trends evolving rapidly, businesses must adapt and automate their marketing strategies to stay relevant and maintain a competitive edge.

attract a wider client base. Digital platforms provide cost-effective ways to reach large audiences. By optimizing targeting through digital ads on platforms like Google, Meta, LinkedIn, Baidu, and WeChat, businesses can effectively reach their desired markets and capture the attention of potential customers. These platforms offer extensive audience targeting options, enabling companies to tailor their messages to specific demographics, interests, and behaviors.

Data-Driven Decision Making: The power of data analytics cannot be overstated. By leveraging data analytics and advanced marketing technologies, companies can gain valuable insights into market trends, customer behavior, and competitive landscapes. Analyzing customer data, both from existing customers and prospects, allows businesses to identify patterns, preferences, and pain points. This information enables data-driven decision-making, helping businesses create more effective marketing campaigns, improve customer experiences, and identify growth opportunities.

Strategic Growth: A customercentric approach, empowered by data-driven strategies, is essential for sustained growth. By combining market insights, customer behavior data, and competitive intelligence, businesses can develop effective marketing strategies that resonate with their target audience. With a robust communication framework and the right marketing platforms and tools, companies can deliver personalized content and messages that communicate value to customers, fostering long-term relationships and driving strategic growth.

Eric Jacob Marketing Director, Tradewind Group

HOW MARTECH CAN REVOLUTIONIZE THE MIDDLE EAST

“People don’t need words, they need actions. They prefer purpose-led companies because they believe that brands have a responsibility to create a brighter world. Customers are eager to collaborate with these companies to have their voice heard and to feel empowered to improve their lives.” Says,

Maite Mouraille - Head of Marketing & Communication Middle East Zurich International Life Ltd.

In an era where technology is reshaping every industry, marketers in the Middle East are facing both immense challenges and extraordinary opportunities. The digital landscape has given rise to MarTech (Marketing Technology), a powerful toolkit that can transform marketing strategies, drive customer-centricity, and propel business growth. However, a lack of proper technology integration, talent scarcity, and a limited customercentric approach have hindered the region's progress. This article explores the challenges faced by Middle Eastern organizations in adopting MarTech and highlights successful strategies employed by forward-thinking brands. It also provides valuable insights into how businesses can overcome these challenges and unlock the true potential of MarTech.

By: Sehrish Tariq

MISSED SALES OPPORTUNITIES: THE COST OF INSUFFICIENT INTEGRATION

Research indicates that a majority of marketing respondents in the Middle East have missed out on sales opportunities and lost revenue due to a lack of proper technology and integration. Fragmented systems, data silos, and disparate processes impede the seamless flow of information and inhibit marketers from delivering exceptional customer experiences.

Eric Jacob, Director of

Marketing at the Tradewind Group, explains, "Digital platforms have significantly impacted our marketing approach, enabling cost-effective reach to large markets. However, the lack of integration between our technologies often hampers our ability to optimize targeting and streamline customer

onboarding processes."

Organizations must prioritize technology integration and invest in comprehensive MarTech platforms that unify customer data, automate workflows, and enable seamless collaboration between teams. By adopting an integrated approach, businesses can leverage data-driven insights to identify untapped opportunities and drive revenue growth.

AI AND TALENT SCARCITY: UNLOCKING COST SAVINGS AND INNOVATION

Artificial Intelligence (AI) holds the promise of significant cost savings and improved marketing outcomes. However, most organizations in the Middle East are not yet prepared to implement AI due to inadequate systems or a shortage of skilled personnel.

To overcome this challenge, businesses need to prioritize upskilling their workforce and create a culture that embraces technology-driven innovation. Collaboration between the IT and marketing departments is crucial for nurturing a tech-savvy talent pool capable of harnessing the power of AI.

Eyad Tachwali - Senior Director, Advisory at Gartner says, “ChatGPT poses security concerns and risks such as, subpar training data, deepfakes, and fraud. It should be used cautiously, with human supervision, and in a controlled setting for proper evaluation and tuning.” Hence it is necessary that we get proper training for the employees to use the AI tools and technologies.

THE QUEST FOR CUSTOMER-CENTRICITY: MAXIMIZING DIGITAL MARKETING IMPACT

While digital marketing offers immense possibilities, organizations in the Middle East are yet to fully embrace customer-centricity. Many CMOs remain focused on being brand ambassadors and managing campaigns, neglecting the optimization of the customer experience.

MarTech can help companies get customer-centric through data and execution of strategies based on that data. Salesforce, Hootsuite, and Google AdWords are some of the must-have tools for companies keen on running insightful marketing campaigns. These platforms empower marketers to gain valuable insights into customer behavior, optimize marketing efforts, and deliver personalized experiences.

To drive customer-centricity, CMOs must leverage MarTech to gain deep insights into customer behavior, preferences, and needs. Tools like Salesforce, Hootsuite,

and Google AdWords provide invaluable data and analytics capabilities, enabling brands to execute insightful and personalized marketing campaigns.

COLLABORATION FOR INNOVATION: ALIGNING CIOS AND CMOS

To harness the full potential of MarTech, collaboration between the Chief Information Officer (CIO) and CMO is vital. These leaders and their teams must align on a digital strategy and a digital experience platform that fosters customer affinity, loyalty, and engagement.

Several companies in the region have successfully embraced MarTech to expand their market reach and attract wider client bases. Zurich's utilization of CRM, digital marketing insights, and the expertise of their analytics team is a testament to their customer-centric approach.

Financial institutions can leverage impactful martech strategies to increase brand awareness and attract new customers. The integration and deployment of Customer Relationship Management (CRM) as a vital strategy, enabling efficient customer management, personalized communication, and targeted marketing campaigns., says, Sharad Vk – Director Marketing Century Financial

Building a Successful MarTech Stack: TO BUILD AN EFFECTIVE MARTECH STACK, CMOS SHOULD FOLLOW THESE KEY STEPS:

a. Identify Needs: Evaluate the organization's requirements and prioritize areas that can benefit most from technology integration and automation. This process should involve assessing customer data needs, campaign management requirements, and analytics capabilities.

b. Data-Driven Decisions: Choose tools that empower data-driven decision-making, enabling marketers to gain insights into customer behavior and optimize marketing efforts accordingly. Platforms such as Salesforce, Hootsuite, and Google AdWords provide powerful analytics and targeting features to help marketers leverage data effectively.

c. Simplify with All-in-One Solutions: Streamline the MarTech stack by leveraging all-in-one technology solutions that integrate multiple functionalities, reducing complexity and enhancing efficiency. Integrated platforms like HubSpot and Marketo offer a comprehensive suite of marketing automation, CRM, and analytics tools that simplify processes and drive better outcomes.

Marketing Automation

TOP TIPS FOR TAILORING MOBILE APP MARKETING

Sue Azari Industry Lead - eCommerce AppsFlyer

Garden-hose marketing — the practice of deploying a uniform message at scale to all recipients, regardless of their individual tastes — has been rendered defunct by two things: the modern customer and modern technology. Digital natives are tired of being bombarded by irrelevant content and AI waits in the wings, ready to assist. Today, we can personalise the content and design of any mobile app to ensure the experience fits the user. Customers are retained and revenue boosted on the back of such adjustments. It is therefore critical that UAE marketers master individualisation if their brands are going to compete domestically and in the global digital economy.

ROADBLOCKS AND BUILDING BLOCKS.

Many roadblocks in the form of privacy, data protection, and residency regulations may stand in the way, but you will still be able to use engagement data and incentivised surveys. When gathering data, be transparent about what you collect and why. Regulations like GDPR and the UAE’s Personal Data Protection Law (Federal Decree Law No. 45 of 2021) are only part of the reason for this. Consumers take their privacy seriously too.

If you can gather information on age, gender, location, profession, and interests, you will be off to a good start. Devices, preferences, activity, and transaction history are also desirable. These data points are the raw building blocks of personalisation. Find a middle ground between underuse and overuse of push notifications. Useful messages (restocks or discounts, for example) at the right time can be individualising. Irrelevant ones every five minutes can cause a user to disengage. Neither should marketers forget segmentation. While it is not personalization per se,

it can be useful to group app users according to location, engagement time, purchase patterns, and other categories that would allow for campaigns to be tailored to each segment. One of the greatest examples of personalised experiences is based on segmentation — “recommended purchases” automatically tells a consumer that they fit in a category with others that bought similar items.

Discounts and special offers can be targeted at these same groups. When a shopper is presented with a deal for an item they may like (based on segmentation) it can be a significant lever in boosting their return business. But offers can also be tailored to specific users. Apps that have been given user permission to track their activity will be able to craft coupons and discounts that apply to that user alone. They will also be able to automatically author notifications in the form of “Hey [Customer Name]” as opposed to “Greetings, valued customer”.

A WORTHWHILE JOURNEY

It will take time, and the right data, to get personalisation right. Use A/B testing to find the right mix and maximise your app’s impact. And do not forget the power of the survey, which can be a focused way of discerning likes, dislikes, and pain points.

Also experiment with different technologies and how they can be integrated into your marketing mix. In this regard, tools like ChatGPT, which marketers may have previously feared would lead to their replacement, can come to the rescue to amplify messages. ChatGPT plugins allow marketers to individualise in real time because of their ability to improvise quickly.

UNLOCKING MARTECH'S POTENTIAL IN THE FINANCIAL SECTOR

The integration of marketing technology (martech) has become vital for the success of financial institutions, empowering them to navigate industry-specific challenges and drive growth in the digital age. The Integrator sat down with Sharad Vk – Director Marketing Century Financial to explore the world of martech and uncover insights that can help financial organizations tailor their strategies for maximum impact. Here, we share their valuable insights on how to unlock martech's potential within the financial sector.

DATA SECURITY AND COLLABORATION: THE BEDROCK OF TAILORED MARTECH SOLUTIONS

In the financial sector, data security takes center stage, often causing hesitation in adopting martech solutions. To address this, he stresses the need for prioritizing data security and compliance when tailoring marketing technology for financial institutions. Additionally, fostering collaboration between marketing, sales, and other departments is crucial. Seamless integration of martech solutions with systems like CRM, sales automation, and customer

Extracts of the conversation between the Integrator and Sharad VK – Director Marketing - Century Financial

service platforms provides a unified view of customer interactions. This facilitates a coordinated approach to marketing and sales efforts, resulting in personalized customer experiences and effective segmentation.

DRIVING BRAND AWARENESS AND ATTRACTING CUSTOMERS: KEY MARTECH STRATEGIES

Financial institutions can leverage impactful martech strategies to increase brand awareness and attract new customers. Sharad highlights the integration and deployment of Customer Relationship Management (CRM) as a vital strategy, enabling efficient customer management, personalized communication, and targeted marketing campaigns.

Content Management Systems (CMS) play an equally significant role in developing engaging content, optimizing SEO, and delivering seamless user experiences. Investing in marketing automation platforms automates tasks, improves lead conversion rates, and provides valuable campaign analytics. To gain a comprehensive view of the customer journey and enable personalized marketing efforts, financial marketers should invest in Customer Data

Platforms (CDP). Other effective strategies include email marketing, data analytics, and personalization. Ensuring compliance with regulations and data security remains paramount.

EMPOWERING AUDIENCE ENGAGEMENT: LEVERAGING MARTECH PLATFORMS FOR PRECISE TARGETING

Marketing technology platforms empower financial institutions to effectively target and engage desired audience segments. By leveraging customer segmentation based on demographics, behavior, and interests, marketing teams can collect and analyze crucial customer data. This data provides valuable insights for future personalized marketing campaigns. Multi-channel marketing ensures consistent messaging across various platforms, while behavioral targeting delivers relevant content based on customer actions. A/B testing and optimization significantly enhance marketing strategies, tracking, and analytics, providing valuable performance metrics. Leveraging martech platforms enables financial institutions to achieve precise targeting, deliver personalized experiences, and optimize marketing efforts.

BEND, DON’T BREAK ATTACKER-DEFENDER LEARNING

botnets, and denial of service (DoS and DDoS) joined the cyberthreat ecosystem – and didn’t leave.

To cope with larger and more varied digital workloads, virtual machines (VM) and virtualisation became integral components of IT networks. It can be harder to keep track of workloads and applications in a virtualized environment as they migrate across servers, which makes it more difficult to monitor security policies and configurations. Underprotected VMs can be targeted with malware and, once infected, can spread malware across the entire virtual infrastructure.

BY 201200

against such threats overwhelmed many organizations, and they turned in growing numbers to Managed Service Providers for external support. Security provision became more flexible, available through the major online Marketplaces and other service providers so it could be bought and up and running within minutes.

2017 was to be a defining year for cyberthreats and cybersecurity. It was the year the powerful exploit tool targeting the SMB protocol, EternalBlue was leaked and the year of two attacks with vast global impact – WannaCry and NotPetya.

BY 202300

To mark Barracuda’s 20th anniversary, we took a high level look at how cyberattacks and cybersecurity have evolved since we started in 2003, and what might be waiting round the corner.

THE LANDSCAPE BY 2003

Cyberthreats and the cybersecurity to defend against them took off in the mid-1980s. The Cascade virus in 1987/8, the Morris worm in 1988, the Melissa virus in 1999, to name a few.

BY 200300

cyberthreats had begun to diversify and multiply, but attacks remained largely fragmented, disruptive, and often opportunistic.

BY 200900

By 2009, mobile devices, services and software were taking over the business landscape. The security perimeter stretched ever further outwards, and attackers got organised. Financial fraud, phishing, ransomware, spyware,

The age of modern ransomware had arrived. Web-based and social engineering attacks became widespread, and attacks by nationstate supported groups and hacktivists increased.

At the same time, the business needs for scalable, accessible, security that can be updated in real-time and doesn’t drain resources drove security to the cloud and as-a-service consumption models.

BY 201600

As the decade progressed, cyberattacks became more prolific and destructive. Connected internet-of things (IoT) systems and hybrid cloud/on premise IT environments become common, offering attackers a broader attack surface and new points of weakness to target and exploit. Attackers were using fileless malware and legitimate or built-in IT tools to bypass security measures and detection.

The skills and resources needed to secure complex digital environment

Today, we see the internet-of-things evolving into the internet-ofeverything (IoE.) Security integration and visibility are struggling to keep pace – leading to security gaps that attackers are quick to target and exploit.

The Russia-Ukraine war that started in 2022 has also reminded the world how cyberattack tactics, such as DDoS, wipers, and more can be wielded as cyberweapons in times of geopolitical tension.

BY 202800

What does the future hold?

As we move towards the second half of this decade, we know that security perimeters are a thing of

We expect the widespread adoption of AI to continue, with significant repercussions for businesses, society, and geopolitical stability. AI will enable security operations centers to become intuitive and responsive, accelerating the detection, understanding and mitigation of complex incidents.

Adam Khan

VP, Global Security Operations, XDR, Barracuda

IS

IS CHAT GPT A BIG CONCERN IN TERMS OF SECURITY?

widespread problem, and they are hard to spot. When generated answers are critical for the business or reputation, ensure human supervision and feedback.

development:

• Learn about the risks associated with the use of large language models, which include the introduction of erroneous information.

Eyad Tachwali Sr. Director, Global Tech Advisory, CIO Research Group, Gartner

All employees who use OpenAI ChatGPT should be instructed to treat the information they post as if they were posting it on a public site (e.g., a social network or a public blog). They should not post personally identifiable information, company or client information that is not generally available to the public. There are currently no clear assurances of privacy or confidentiality. In addition, the information you post may be used to further train the model.

Also, the text generated by ChatGPT depends on the prompt, task or domain, and on the quality and quantity of the training data leading to model risks and misuse risk.

MODEL RISKS INCLUDE:

• Hallucinations — These wrong answers are ChatGPT’s most

• Subpar training data — Data could be insufficient, obsolete or contain sensitive information and biases, leading to biased, prohibited or incorrect responses. Using ChatGPT for the most critical tasks and less popular domains poses higher risks, including ethical, reputational and legal risks.

MISUSE RISKS INCLUDE:

• Deepfakes — These outputs generated by ChatGPT could appear realistic, but actually be fake content. Organizations must be vigilant to identify fake news, misinformation, impersonations, or efforts to manipulate public opinion.

• Fraud and abuse — Bad actors are already exploiting ChatGPT by writing fake reviews, spamming and phishing. Like any fraud, the use of ChatGPT for malicious purposes will be ongoing.

ChatGPT should be used in a controlled setting where the generated text can be properly evaluated and tuned.

Recommended Actions for enterprises wanting to use ChatGPT:

• Avoid being seduced by the intense hype about ChatGPT, a service that is still at a very early stage of

• Investigate this technology’s significant potential but avoid committing too much to it.

• Explore other emerging use cases for generative artificial intelligence (AI), beyond GPT’s language-focused ones.

• Encourage exploration of potential use cases and changes to work processes:

• Define usage guidelines — ensure that all users understand the risks, issues and practices.

• Do not use versions of ChatGPT with any private data if the service does not offer assurances of privacy or confidentiality. It is likely, however, that Microsoft’s Azure OpenAI Service version of ChatGPT will have enterprise-level confidentiality, privacy and compliance capabilities.

• Form a task force, which should report to your CIO and CEO, charged with:

• Detailing existential threats and major opportunities.

• Documenting what management needs to know in order to plan and set direction.

• Developing a plan to explore opportunities as they arise.

D-LINK'S ECO-FRIENDLY PRODUCT MADE WITH POST-CONSUMER RECYCLED PLASTICS

D-Link Corporation, a company committed to environmental sustainability, announced today the release of its first product made with post-consumer recycled (PCR) plastics. The AQUILA PRO AI M30 AX3000 dual-band Mesh Wi-Fi 6 system is the first of its kind and is also Taiwan’s first networking device to receive the European Telecommunications Standards Institute’s (ETSI) EN 303 645 certification for consumer Internet of Things (IoT) security.

CJ Chang, CEO of D-Link Corporation, states, “D-Link has been dedicated to environmental protection through its "D-Link Green" project since 2007. This project focuses on the 3Rs (Recycle, Reuse, Reduce) and incorporates measures such as restricted or limited substance management, energy-efficient product development, easy disassembly for recycling and reuse, and reduced packaging to minimize the negative environmental impact of products at every stage of their lifecycle. We later launched the "D-Link Green Pack" project in 2022, aiming to achieve environmental sustainability

through eco-friendly materials, plastic-free packaging, and optimal material volume. Overcoming technical challenges, we successfully released our first product with a casing made from post-consumer recycled plastics, marking a crucial step towards environmental sustainability.”

D-Link’ M30 AX3000 dual-band Mesh Wi-Fi 6 system not only represents the next generation of green products but also enhances cybersecurity by complying with internationally recognized IoT security standards such as ETSI EN 303 645, establishing a solid foundation for smart living while aligning with global standards.

M30 combines the concepts of environmental sustainability, international cybersecurity standards, high-speed connectivity, and quality. With its sleek design and hidden antennas, it significantly enhances 5G signal penetration and provides up to 160 MHz bandwidth for faster transmission speeds. Moreover, it can accommodate up to 128 connected devices, providing users with highly intelligent and flexible network connectivity.

APPLE UNVEILS VISION PRO: THE REVOLUTIONARY SPATIAL COMPUTER

Apple has introduced Apple Vision Pro, an innovative spatial computer that seamlessly merges digital content with the physical world, while enabling users to remain engaged and connected with others. Vision Pro offers a limitless canvas for apps, surpassing the boundaries of conventional displays. It introduces a fully threedimensional user interface that can be controlled using natural and intuitive inputs such as the user's eyes, hands, and voice. Powered by visionOS, the world's first spatial operating system, Vision Pro enables users to interact with digital content in a manner that feels physically present in their environment.

The groundbreaking design of Vision Pro showcases an ultra-high-resolution display system with 23 million pixels spread across two screens. It incorporates custom Apple silicon in a unique dual-chip configuration, ensuring that

every experience occurs seamlessly in real-time, right before the user's eyes. With its dual ultra-high-resolution displays, Apple Vision Pro can transform any space into a personal movie theater, providing a screen that feels as wide as 100 feet, accompanied by an advanced Spatial Audio system. Users can indulge in movies, TV shows, and even breathtaking three-dimensional films. Apple Immersive Video delivers 180-degree high-resolution recordings with Spatial Audio, offering users access to an exciting collection of immersive videos that transport them to entirely new locations.

Spatial computing opens the doors to novel gaming experiences, with titles that offer varying levels of immersion, immersing gamers into entirely new worlds. Additionally, users can enjoy over 100 Apple Arcade games on a screen of any desired size, enhanced by immersive audio and support for popular game controllers.

TIPS TO KEEP YOUR BUSINESS SAFE FROM

TIP 1 - BE SKEPTICAL.

If something sounds too good to be true, it probably is. Know the warning signs for phishing, social engineering and other scams and err on the side of caution. Don’t click on unknown links, open unexpected or suspicious attachments or provide information to someone you don’t know or weren’t expecting to hear from.

TIP 2 - USE STRONG PASSWORDS AND PASSPHRASES

Longer is stronger. Leverage passphrases to help create long passwords that are easy to remember, but hard for others to guess.

Rizk Regional Director, ME & CIS,

According to recent research more than 85% of companies have been the victim of a ransomware attack in the past year. It’s not a question of whether you’ve been attacked or when you’ll be attacked, but how often you’ll be attacked. While there is no way to guarantee you will never be attacked, you can take some simple steps to make it more difficult for the attackers to succeed and keep your business running. Start with the basics. Make sure your PCs and servers are all up to date and patched. Make sure you have up-to-date virus and malware checks in place. Then, embrace good practices and educate others across your team.

TIP 3 - SLOW DOWN

Slow down and avoid making simple mistakes. Be cautious of autocompletion in emails so you don’t send sensitive information to the wrong person. Don’t accidentally ‘reply all’ when you only intended to send information to one person on the thread.

TIP 4 - BEWARE OF MALWARE

Viruses, computer worms and Trojans can hide in legitimate looking websites, free software packages online and phishing emails. Ensure you have an anti-malware program enabled and kept updated.

TIP 5 - STAY SECURE ON THE GO

Security doesn’t stop just when you leave the office. Be aware of your surroundings. Don't talk about sensitive information, like banking details or medical information, in a location where others can hear you. Keep your device screens hard for others to see - consider a privacy screen when possible. Use an external battery pack rather than public charging ports to protect against 'juice jacking.'

TIP 6 - KNOW YOUR DATA. PROTECT IT.

You cannot protect your most sensitive information if you don't know what information you have. Inventory your organization's information. Classify it based on its sensitivity level. Protect the information according to that sensitivity level.

TIP 7 - LIMIT ACCESS

You may hire the most trustworthy people to work for you, but that doesn’t mean they all need access to your most sensitive information. Provide access on a need-to-know basis. This helps protect confidentiality, but also reduces the impact if someone’s access is compromised. Use multi-factor authentication when given the option to minimize the damage that can be caused if someone steals your passwords.

Mohamad

Veeam Software

ZOOM SURVEY REVEALS NEARLY HALF OF WORKERS VIEW FLEXIBLE WORK AS AN EXPECTATION, NOT A PERK

Work looks different for everyone; there is no “one size fits all” solution for the best way to get work done. However, according to a recent Zoom and Morning Consult survey of 4,000 knowledge workers on workplace preferences, there is one thing workers agree on: flexibility, and having control over how you spend your time, matters.

Flexible work is no longer a perk — it’s an expectation.

Many knowledge workers have started to view flexible work – the ability to work during the hours and at a preferred location that are most productive for oneself – as a must-have. In fact, on average, 43% of knowledge workers (across all countries surveyed) say flexible work is a basic expectation.

The results suggest that flexible hours and schedules were of utmost importance when it comes to workplace benefits, outweighing other well-established perks like professional development opportunities and childcare resources.

Time is a unifying factor across generations.

Time and how it’s spent matters to all generations. Of those surveyed in the U.S., all generations showed a strong preference for flexible hours over any other workplace perk:

• 79% of Gen Z and Younger Millennials (under 30) prefer flexible hours to any other workplace perk.

• 72% of Millennials prefer flexible hours to any other workplace perk.

• 69% of Gen X prefer flexible hours to any other workplace perk.

• 69% of Boomers prefer flexible hours to any other workplace perk. These survey findings suggest the classic 9-5 model is no longer

considered an effective way to work – no matter the stage of life the employee is in. Rather, employees prefer to manage their own efficiency and time, determining how they work best while still meeting their employers’ expectations.

ZOOM-ENABLED FLEXIBILITY.

With Zoom, organizations can implement the best tools to enable a hybrid workforce. Whether employees work in an office, remotely, or a combination of both, Zoom’s all-inone collaboration platform allows businesses to focus on productivity and efficiency while allowing employees the flexibility to work when, how, and where they are most productive without compromising the quality of work or collaboration.

Zoom makes it easy for workers to improve the use of their time, whether it’s using Zoom Team Chat to catch up with team members at a convenient time that works best, no matter the location, or Zoom Phone to take meetings on the go. Zoom Whiteboard

also allows distributed employees to brainstorm ideas across time zones and asynchronously, while Zoom IQ meeting summary leverages Zoom’s own large language models to create a summary of the conversation and next steps for those who can’t attend, without needing to record the meeting.

METHODOLOGY:

This survey was conducted among 4,000 Knowledge Workers across the following markets: US, UK, DE, AU, SG. Knowledge workers were defined as clerical workers who have a full-time job in the private sector, in government, or in the non-profit sector.

This survey was fielded among those in the US, UK, DE, AU, SG from February 3– 24, 2023. Data in this survey were weighted to match an approximate proportion of knowledge workers per country. The margin of error for this study is +/- 2% for all countries, +/- 3% for the US, UK, and DE, and +/- 4% for AU and SG. The margin of error is smaller within subgroups.

BIG DATA AND AI: A NEW ERA OF FRAUD PREVENTION

longer enough. Criminals are using ever-evolving tactics, and the scale and complexity of their attacks are snowballing. Leveraging advanced anti-fraud solutions can help businesses protect themselves and their customers from the devastating effects of financial fraud.

Digital payment methods are increasingly penetrating all markets, thanks to technologies like Artificial Intelligence (AI) and big data. The prevalence of Internet transactions has significantly increased the risk of potential financial fraud. The projected global merchant losses of over $343 billion by 2027 serve as a wake-up call to the severity of this issue.

Using conventional detection techniques to combat financial fraud is insufficient as it keeps evolving into a more sophisticated crime. Criminals constantly change and employ novel strategies, and the scope and sophistication of their assaults are growing. Organisations must learn to make the most of cutting-edge tools, such as AI and big data analytics, to stay ahead of the curve to detect and proactively stop fraudulent actions in real time.

In the UAE alone, where digital payments are set to exceed $28 billion this year, the potential for fraud is a significant concern, which poses a threat to individual consumers and businesses and has far-reaching economic implications. The consequences of financial fraud can be devastating.

As financial fraud becomes more sophisticated, relying on traditional detection methods is no

The rise in financial fraud has prompted regulators and governments worldwide to implement stricter regulations and policies to combat fraud and protect consumers. Efforts to strengthen digital infrastructure have increased in the MENA region. Forecasts show that the market for cybersecurity solutions in the region will grow at a CAGR of 7.9% in the 2023 to 2028 period, reaching a value of $3.12 billion by 2027, creating a conducive environment for adopting AI and big data analytics to tackle financial fraud and reinforce the security of digital transactions.

Financial Institutions can Benefit from advanced technology.

Financial institutions using AI and big data analytics can detect fraud efficiently. “By leveraging the power of AI and data analytics, organisations can gain unprecedented insights into financial activities and identify potential fraud. With the ability to process vast amounts of data quickly and accurately, data analytics can help identify suspicious patterns and deviant behaviour that might otherwise go undetected. With AI, businesses can proactively detect and prevent fraudulent activities, minimising financial loss and reputational damage.” said Karim Azar, Regional Vice President of Middle East and Turkey, at Cloudera. “By leveraging the power of data, businesses can stay ahead of the curve and keep their financial systems secure while at the same time leveraging their data to drive growth and innovation”, he added.

Research shows that AI and big

data can improve detection rates from 50% to 90% while reducing the number of overall alerts received from tens of thousands to under a hundred. Moreover, these tools offer increased speed and scalability, enabling organisations to analyse vast data quickly.

Abdul Husein, Chief Technology Officer at Sav, states, “Data analytics powered by AI empowers banks and fintech to make the paradigm shift in how they deal with fraudulent transactions. This technology can let you preemptively respond to fraud and prevent it from occurring in real-time instead of a reactive response.”

“Advanced techniques like machine learning (ML) modelling and generative and behavioural analysis perform millions of real-time calculations to identify trends and patterns to flag suspicious transactions. By staying vigilant and proactive with advanced fraud detection techniques, we provide our users with a secure and trustworthy platform for managing their finances,” he added.

Examples of successful implementation include AI-powered solutions that detect credit card fraud and ML algorithms that predict insurance fraud patterns.

NO SILVER BULLET YET

AI and big data analytics still possess limitations, such as data privacy

Karim Azar Regional VP, ME& Turkey, Cloudera

Abdul Husein CTO - Sav.money

and security concerns, that must be addressed to ensure customer trust as AI models become more complex, biases and ethical considerations. It is crucial to ensure transparency and fairness in AI algorithms while maintaining their effectiveness in detecting fraud. This is where the notion of responsible AI is gaining significant momentum to reduce many inherent biases in existing data environments.

Companies must scrutinise their data environments, identify biases, and implement solutions to minimise their impact. This may involve adjusting AI algorithms or investing in new technologies to detect and mitigate bias. Transparency, fairness, and collaboration with AI ethics experts are also essential for ensuring the integrity of their AI algorithms.

Ultimately, adopting responsible AI is a strategic move. As AI continues to shape our world and influence our decision-making processes, companies prioritising transparency and fairness in their AI models will be best positioned to build long-lasting customer relationships and succeed in the marketplace.

WHAT THE FUTURE HOLDS

The future of AI and big data analytics in financial fraud detection and prevention looks promising. Continuous advancements and improvements are made as the technology benefits from broader adoption, making technological tools more sophisticated and capable of detecting complex fraud patterns.

Collaboration between organisations and technology experts is vital to unlock the full potential of these technologies. Together, they can create innovative solutions to prevent and detect financial fraud, protecting businesses and individuals from its harmful impact.

EMBRACING THE ROAD AHEAD

AI and big data analytics have immense potential to detect and prevent financial fraud, offering enhanced accuracy and speed.

THE VALUE ARCHITECT FOR BANKING AI

By: Vishal Khurana Senior Vice President MEA, BUSINESSNEXT

Rightly put across via an estimate, the potential impact of AI for the Middle East amounts to US$320 billion by 2030! The UAE government also recognizes AI as one of the key tools to achieve its objectives of the UAE Centennial 2071.

UAE in fact has witnessed a fintech revolution of sorts propelled by the digital revolution over the last decade. AI is being leveraged across the back end to the front end of the banking tech stack for a variety of use cases, some more mature than others. Chatbots, biometrics, antifraud & risk assessment, complex legal and compliance workflows, credit underwriting, and smart contracts infrastructure, KYC to name some.

PRACTICAL AI USE-CASES

AI can be used to build a sustainable, real-time, hyper-personalized, and structured banking ecosystem. Talking of specifics, right from delivering augmented analytics on customer data, enabling automation, and building intelligent customer 360 for hyper-personalization, AI can be used for fraud monitoring and real-time issue resolution!

• Facilitating hyper-automation for loan or credits decision to deliver efficiency with minimum to

zero errors, compliance risks, and quicker decisions.

It can help eliminate the risk of duplicate data entry, prepopulate customer information from multiple systems seamlessly, assist in accurate information capture, and speed up the identity verification process. Beyond this, it can cull out specific customer patterns to evaluate creditworthiness, and customer lifetime value and also alerts if there is a probability of default!

AI/ML models can power intelligent, customizable journeys and lending workflows, enable hyper-automation through robotic process automation (RPA) for speeding up operations, reducing operating risks, and keeping cost to serve within tight limits.

• Transformative customer experience vows to be the key differentiator amongst enterprises across. For customers, convenience and quick redressal are given, however a wow service goes beyond this. Tailored financial products or services that match their financial goal, Voice stimulated banking service for efficiency, a completely digitized documentation process, autofilling and data extraction with OCR capabilities, 24X7 omnichannel access to the banking services etc are fast-

turning benchmarks. Banks delight customers with speed, transparency, payment flexibility, and convenience.

• Avoiding risks but boosting instant decisions via AI-driven models that enable banks with automated underwriting and faster disbursals. The model analyses the risk in each customer transaction, thereby giving a holistic risk profile, translating into wider coverage and inclusion. Hyper automation automates identify verification and its validation. Smart, configurable business rule engines backed by automated underwriting allow for disbursals in minutes.

GETTING READY FOR THE AUTONOMOUS BANKING

In the digital-first world, AI is only set to chart newer benchmarks for banking, an era of Autonomous banking - a ‘Zero Ops Model’ where BFSI delivers services with no human intervention and in real-time! For this banking services would have to be intelligently automated by reassembling, rearranging, and reorienting banking tech stacks to intelligently design customer journeys and anticipate customer needs better. The right suite of composable tools can enable a robust zero-ops model and reinvent customer expectations!

COLLABORATIVE APPROACHES TO FINTECH IN THE MENA REGION

What are the current trends, challenges, and demands in the fintech business, specifically in the online payment gateway vertical?

We need to acknowledge the growing demand for a seamless, secure, and personalized online payment experience across various channels, such as mobile, web, and in-store. Currently, we are experiencing a gold rush from artificial intelligence and machine learning. Companies must learn to leverage this technology in order to remain ahead of the curve and not fall behind.

Another trend is the increasing adoption of open banking and APIs, which enables fintech companies to connect with traditional banks and financial institutions to offer more comprehensive payment solutions. Additionally, there is a growing interest in blockchain technology, which has the potential to revolutionize the payment industry by providing a secure and transparent ledger for transactions.

However, we shouldn’t disregard the challenges, such as the need to maintain compliance with constantly

evolving regulations, the threat of cybersecurity breaches, and the need to continuously innovate to keep up with changing consumer behaviors and preferences.

What sets Telr apart from its competitors?

At Telr, we are focused on providing our clients with state-of-the-art online payment gateway solutions that are both secure and user-friendly. We leverage cutting-edge technologies and customizable features that set us apart from other payment gateway providers.

We strongly advocate for user experience and believe that ensuring ease of use is crucial in leaving a positive impact on customers.

How has the recent boom in the digital payment industry impacted your business services to your regional partners and clients?

Just as the world is shifting towards sustainability, the recent boom in digital payments isn’t in fact, very recent. I firmly believe that this move was inevitable and that technology is influencing us to shift towards digitization. This has been extremely helpful for us, especially during the pandemic where we were able to ride the wave of digital payments.

With the Kingdom’s goal of becoming a cashless society by 2030, we’ve been very instrumental with our regional partners and clients who are aligned with this vision.

What are the solutions you provide to Middle Eastern governments?

Telr’s online payment gateway allows governments to receive payments from citizens for a variety of services, such as taxes, fines, and fees. We also provide solutions to streamline payment processing for government agencies, reducing paperwork and increasing efficiency.

Furthermore, our platform is highly secure and compliant with international regulations, ensuring that government transactions are safe and transparent. We are committed to providing innovative solutions to help governments in the region improve their financial operations and better serve their citizens. Our goal is to make payments simple, secure, and accessible for everyone for users in the Middle East especially in the UAE and Saudi Arabia.

Is there a power shift in the region from conventional banks to fintechs?

There is definitely a shift happening in the MENA region from conventional banks to fintech companies. As consumers increasingly seek convenience and accessibility in their financial transactions, fintech companies are able to offer innovative solutions that traditional banks often struggle to match. Additionally, the regulatory landscape in the region is becoming more fintechfriendly, which is encouraging more entrepreneurs to start fintech companies.

The Integrator recently conducted an interview with Khalil Alami, the Founder and CEO of Telr. During the interview, he shed light on the current trends and challenges within the fintech business, the ongoing power shift from conventional banks to fintech companies, and the exciting developments that lie ahead in the fintech ecosystem.

Khalil Alami Founder and CEO, Telr

Can you provide a little background of your company, Cyber Gear?

Cyber Gear is a leading technology company that specializes in creating digital twins, providing immersive shopping experiences with avatars, offering phygital workshops, and helping brands transition from Web2 to Web3. Cyber Gear was the first digital agency in the Middle East region, established in 1996. The company has now started to focus on Web3 and Metaverse services, providing these solutions to global clients.

How do you envision Web3 and Metaverse transforming the entire F&B industry?

Web3 represents the next stage in the evolution of the internet. Although it is still in its early stages, many brands have begun to experiment with this medium, and it is only a matter of time before mass adoption takes place. It is an ideal time for hospitality brands to begin building communities because, without a community in Web3, success is difficult to achieve. Additionally, it is essential to note that in Web2, we have consumers, while in Web3, we must create "fansumers," who

WEB3 AND NFTS TO REVOLUTIONIZE F&B INDUSTRY

The Integrator had an interview with Mr. Sharad Agarwal, Chief Metaverse Officer at Cyber Gear, to learn more about the company's approach to Web3 and the future of the F&B industry in metaverse.

are loyal fans of your brand, similar to brand ambassadors. They will promote your brand even when you are not actively promoting yourself. Thus, it is crucial to use your community as brand ambassadors, and the ideal time to start building that is now.

Which are some of the Brands in the F&B Industry that are Pioneers in this space?

Several international franchises are leaders in using the Metaverse and NFTs to increase their brand presence:

• Burger King – ‘Keep it Real Meals’

• McDonalds – Virtual Landgrab

• Wendys – Virtual Hangout Space in Fortnite

• Panera Bread – Online Café & Restaurant

• Flyfish Club - Gary Vee’s private dining club

• Pizza Hut – Food NFTs

• Budweiser – NFT Heritage Collection

• The Bored Breakfast ClubDirect-to-Consumer coffee subscription service

• Starbucks – Odyssey Loyalty Program

When do you think mass adoption will happen for the Metaverse?

When the internet was first introduced around 1995, people connected with dial-up modems. Today, we can stream movies on Netflix with zero buffering. However, it has taken 28 years to get here, and the Metaverse is still new, so we need to be patient and allow it to evolve. According to Citibank, around 5 million people will be spending a couple of hours in the Metaverse by 2030.

What are your plans for 2023?

We are working on digital twin projects that involve creating virtual cities in the metaverse with full functionality. This means that you can get a trade license, rent an office, and hire people in the Metaverse. This is the future, and it is starting to happen now. We are at the forefront of technology and leaders in the space, but we are still learning because there are no experts.

What is your final advice to organisations in the region?

“If you have seen the Metaverse Bandwagon, you have missed it. You have to be on it!”

Sharad Agarwal Chief Metaverse Office, Cyber Gear

PRESIDENT OF AMFORHT DISCUSSES THE IMPORTANCE OF EDUCATION AND TRAINING FOR THE GROWTH OF HOSPITALITY SECTOR

How do you perceive the shift from short-term operational concerns to longterm education and training within the hospitality industry?

It is crucial to assess the current situation after COVID-19. What has unfolded since then? Is the emphasis solely on the present or should we consider the future? For instance, the deal between AMSA Hospitality and Accor that happens at ATM, 2023 holds significant importance as it combines vision and strategy. Today, education and training are key to shaping the future, not just working to meet short-term needs like paying rent, car expenses, or debts.

AMFORHT, being a worldwide association representing 72 countries and encompassing over half a million students, teachers, and organizations, focuses on education and training. It's very important to highlight that today the main capital is not oil, gas, it's education and training. Personally, I am attending ATM to stay updated and witness the progress of the deal between AMSA Hospitality and Accor. This project is of great importance to me because it involves Accor, a global company with immense knowledge, collaborating with AMSA Hospitality that has the knowledge of Saudi Arabia, not only of the main big cities but also of all the possible tourism attractions across the country.

How important is education in the Hospitality industry?

Education and training serve as the primary key to success in the hospitality industry. Consider a scenario where you can venture to a financially disadvantaged country like Bangladesh. If you possess education, hospitality skills, and training, I am confident that Bangladesh or any other impoverished nation could experience development. Tourism is not something that should be only enjoyed by the people who have abundant wealth.

In Dubai, the focus often revolves around those who have wealth to come here—those with money. But for those who lack financial resources, they remain in their struggling home countries, which should not be the case. Countries need to concentrate their efforts on establishing peace to attract visitors, making the world a more peaceful place.

How is technology playing a role in today’s world?

What exactly is technology? It is merely a tool. A lot of countries are known for their technological advancements despite economic challenges. It is a tool that can be bought by any country with money. On the other hand, education is distinct, it involves cultivating respect. In each country that is popular for having tourists, hospitality serves as their language that brings respect and peace to the nation.

In the hospitality sector of the Middle East, which country is experiencing significant growth?

Having spent over 10 years in Saudi Arabia and being familiar with this region, I would say that hospitality is a natural aspect of the Middle East which comes effortlessly. The Middle East benefits from favorable conditions such as it is not densely populated. The key is understanding and respecting the local ways. For example, I may be in Saudi Arabia today, but I acknowledge the importance of starting with the local population. Education and training come first, and with financial resources, technology can be acquired later.

The Integrator had an exclusive interview with Abderahman Belgat, President of World Association for Hospitality and Tourism Education and Training (AMFORHT), an affiliate member of the UNWTO.

Abdou Belgat President of AMFORHT

ALMOSAFER MAKES WAVES AT ARABIAN TRAVEL MARKET BY EMPOWERING SAUDI TOURISM

The Integrator had an exclusive interview with Muzzammil Ahussain, CEO, Almosafer. He sheds light on how the company started and transformed into one of the largest omnichannel travel agency of the Middle East.

What was the main idea behind starting Almosafer?

Almosafer, part of Seera Group, was founded in 2013 with the original intention of creating a travel booking platform for Saudis focused specifically on hotel reservations. As time went on, we experienced significant growth and Almosafer was transformed into a fully-fledged omnichannel travel agency for the Middle East. I have since overseen the amalgamation of all of Seera Group’s travel businesses under the Almosafer umbrella. These businesses include Almosafer, Almosafer Business, Discover Saudi, and Mawasim.

How does Almosafer differentiate itself from other travel brands in the Middle East?

Almosafer stands out in the Middle East market due to our comprehensive suite of products and services, covering the entire travel spectrum from religious tourism to leisure tourism in Saudi Arabia. We also cater to business, corporate, and government travel needs, in addition to our strength in consumer travel. What sets us apart is that all these services are integrated into a single platform, utilizing the same technology and data. This centralized sourcing approach enables us to provide a unique and seamless set of services for the entire travel ecosystem.

Can you give a brief about the four main areas that Almosafer deals with?

We are the Middle East’s leading travel company, catering to every travel vertical. There are four businesses under the Almosafer umbrella.

1. Mawasim, which focuses on religious travel, specifically Hajj and Umrah into the Kingdom of Saudi Arabia. We collaborate with agents globally, particularly in key markets like Indonesia, Pakistan, Malaysia, Singapore, Europe, and the US. Our aim is to provide B2B packages to these agents, which they can offer to their customers.

2. Discover Saudi, which caters to inbound leisure tourism. We offer packages, tours, and operations for B2B international agents, covering all of Saudi Arabia. This includes popular destinations like AlUla and the Red Sea, among others.

3. Almosafer Business, which specializes in corporate and government travel within Saudi Arabia. We work closely with government and corporate agencies to meet their travel needs and provide tailored solutions.

4. Almosafer, our largest segment that is consumer travel, which includes B2C services through our mobile application, website, WhatsApp, and call center operations. We cater to consumer travel demands not only in Saudi Arabia but also in the rest of the GCC region.

Can you elaborate a little on the Almosafer Concierge that is your luxury travel service, how it caters to VIP and high-end clients?

Almosafer Concierge is an exclusive, invitation-only program that offers tailored luxury trips for VIP and high-end clients. We have established special partnerships and access for our guests at renowned luxury hotels such as Four Seasons and Marriott. Our team, largely comprised of Saudi professionals, understands the preferences and expectations of Saudi travelers. We also have international experts supporting us in delivering exceptional service. In addition to our invitation-only program, we offer a concierge planning service, allowing individuals to access our concierge services through a one-time fee.

What

are the company's future plans?

We have ambitious plans for the future. In 2023 alone, we are targeting 40 to 50% growth. We are excited about our non-binding terms agreement with the Public Investment Fund (PIF), signed in September 2022, that we aim to close in the near future. This agreement is expected to provide us with further growth opportunities. As a company, we remain committed to investing in tourism and technology for Saudi Arabia and the wider region, continually striving to enhance our offerings and services.

Muzzammil Ahussain CEO, Almosafer

AST ENTERPRISES INC. PRESENTS NEW COFFEE PRODUCT AFTER SUCCESS IN SESAME, PULSES, AND RAW CASHEW NUT INDUSTRY

Can you provide an overview of AST Enterprises?

AST Enterprises is a family-owned company that was established in Dubai approximately 25 years ago. The founder, Mr. Saravjeet Talwar, has been in the business for over 30 years, having started his career in Tanzania in exports. He then founded his own company in 1998 and moved to Dubai. AST Enterprises specializes in pulses, sesame seeds, oilseeds, and nuts, which constitute the core of its business. The company's main commodity is sesame, with an annual volume of approximately 100,000 tons, followed by pulses, with an annual volume of 70,000 to 80,000 tons. Additionally, the company deals in raw cashew nuts, with an annual volume of approximately 60,000 tons, and animal feeds and other oilseeds such as soybean meal and soybean extractions, with an approximate volume of 80,000 tons.

The company is also involved in rice and has recently entered the coffee industry. AST Enterprises is establishing a Coffee roastery that is set to be operational in DIP (Dubai Investment Park) in a month's time. The company is currently diversifying its operations. In total, AST Enterprises deals with approximately 350,000 tons of various commodities, including sesame seeds, oilseeds, pulses, grains, and rice. The company had a remarkable turnover in 2022 and is expected to increase its turnover in 2023.

AST Enterprises Inc. is a prominent player in the agricultural commodities industry. The company deals in a variety of products, including pulses, sesame seeds, nuts, and oilseeds. With an annual trade volume of 300,000 - 350,000 tons, AST Enterprises Inc. has established a strong presence across the globe.

Usman Riaz, the Head of Sesame trade at AST Enterprises Inc., is an expert in the field with years of experience under his belt. In this interview, he shared about the company's plans for the future.

AST Enterprises has seven traders who handle day-to-day business. Mr. Talwar oversees the pulses business, and the team comprises well-experienced traders who deal in their respective products. The new focus is on a team who are now involved in coffee.

What is the main product you presented at the event – Gulfood, 2023?

This year, we are presenting our new product in the market, which is coffee. We have been serving the industry with our other products for the last 25 years and have a good client base all over the world. However, being at Gulfood provides us with a platform to network and meet new people.

What are your plans for 2023?

We have already started value addition and have moved into sorting sesame seeds in West Africa. We have one of the best plants in West Africa, purchased from Bühler, one of the strongest machine makers in the world. We plan to move the next plant to Nigeria in 2023, followed by Tanzania the following year, and possibly Mozambique and Malawi. We have a strong presence throughout Africa, from Kenya and Ethiopia to Tanzania, Mozambique, Uganda, and West Africa, including Nigeria, Benin, Togo, Guinea Conakry, and the Ivory Coast. Our primary sourcing and selling regions are South Asia, the Far East, China, Korea, Japan, and Europe, where we have recently expanded.

Usman Riaz Head of Sesame Trade, AST Enterprises Inc.