The Integrator

Embracing the Digital Revolution

In today's fast-paced world, digital transformation has emerged as a catalyst for change across industries, reshaping the way we live, work, and interact. This powerful phenomenon has revolutionized business models, enhanced customer experiences, and unlocked unprecedented opportunities for growth and innovation. Here, we will explore the impact of digital transformation across various sectors, showcasing real-world examples that highlight its transformative potential.

If we take the example of financial industry, it has undergone a significant digital revolution. Traditional banking models are being challenged by fintech startups that leverage digital technologies to provide innovative financial services. Mobile banking applications allow users to manage their finances, make payments, and transfer funds seamlessly. Furthermore, blockchain technology is revolutionizing the world of finance by providing secure and transparent transactions, eliminating intermediaries, and reducing costs.

The education sector has experienced a paradigm shift with the advent of digital transformation. E-learning platforms and digital classrooms enable students to access educational content from anywhere in the world, breaking down barriers to education. Interactive learning tools, virtual reality simulations, and personalized learning algorithms empower students to learn at their own pace and cater to their individual needs. Digital transformation in education has truly democratized access to knowledge and opened doors to lifelong learning.

These examples illustrate the far-reaching impact of digital transformation. As we navigate the digital revolution, it is crucial for businesses to embrace change, foster a culture of innovation,

The future belongs to those who dare to transform.

Are you ready to transform?

A10 NETWORKS BOOSTS CLOUD DEFENCE WITH FIRST APPLICATION DELIVERY SOLUTION

The last decade of digital transformation has turned most organizations today into true digital businesses. But the effectiveness and economics of cloud operating models have become top concerns. How to best secure, optimize, and automate hybrid cloud environments in the most effective manner is a significant challenge. To solve this problem, A10 Networks is announcing a combined solution of the Thunder® Application Delivery Controller (ADC) and the new A10 Next-Generation Web Application Firewall (WAF), powered by Fastly, to enable automated, multi-layered security, and resilience.

As organizations seek to establish an efficient and effective cloud operating model, the

combined technology enables a highly performant security solution at a strategic application ingress point that reduces

false positives and automates security, empowering agility, and effectiveness. The end solution ultimately helps deliver better cloud economics and business outcomes.

Improving the Security and Resiliency of Hybrid Cloud

The company is adding the A10 Next-Gen WAF, powered by Fastly, to its solution portfolio as an integrated add-on to its A10 Thunder ADC solution. Together, the A10 Thunder ADC and A10 NextGen WAF implementation provides a single solution to enhance web defenses across software and hardware appliances installed in hybrid cloud environments. The solution can be deployed across multiple form factors, including virtual machines and hardware appliances.

CLOUDERA AND PARTNERS HOST EVOLVE: A DATA CONFERENCE FOCUSED ON "DATA ANYWHERE, INNOVATION EVERYWHERE"

The hybrid data company Cloudera along with its partners, will be hosting an event on the 18th of May 2023 at Museum of the Future, revolving around the ideology “Data Anywhere, Innovation Everywhere”. The data conference Evolve, is set to take place in Dubai in partnership with AWS, IBM, Intel, Dell Technologies, Red Hat, Accenture, Evalueserve, Magnoos, PUE, Techvista, Alfanar Digital Solutions, BBI and IDC Solutions.

Evolve aims to inspire and encourage business leaders today by highlighting the power of data and analytics by spotlighting success stories from leading organisations, networking with data professionals, and connecting with business and technology leaders.

The event expects to highlight significant industry trends, provide networking opportunities, and breakout sessions while sharing plenty of industry insights through keynote speakers. The speakers at the event include Naveed Memon (Vice President Enterprise Data & Analytics Solutions, Emirates, former Gartner analyst Merv Adrian (Founder and Principal Analyst at IT Market Strategy), Mostafa Zafer

(Vice President, Data & AI and Automation, IBM), Samer Mahmoud (Senior Manager, AWS), and Sudhir Menon (Chief Product Officer, Cloudera).

In addition to the keynote speeches, the event will include three breakout sessions highlighting the latest innovative data use cases:

• Modern Architecture – Involving consumer stories about architecture and cutting-edge technologies driving measurable outcomes.

• Transformation – Attendees will hear customer stories on big and small transformation projects, from business processes to entire industries.

• Discovery Labs – Experience the ‘art of the possible’ with Cloudera Data Platform and Cloudera partner solutions. This will be a hands-on, immersive experience where delegates can participate in guided tours and trial the latest products. “Evolve is a unique, in-person event to inspire data and analytics leaders to discuss the future of enterprise data strategy. Designed to give exclusive access to best-in-class approaches and ideas, said Ahmad Shakora, Group Vice President, Emerging Markets at Cloudera.

Mikko Disini Global VP, Product Management A10 Networks

RIVERBED LAUNCHES MANAGED SERVICE PROVIDER PROGRAM TO SCALE DIGITAL EXPERIENCE

managed SaaS Digital Experience Management (DEM) service focused on expanding opportunities for partners and scaling the Alluvio Aternity DEM business. The ACE program is targeted to managed service provider (MSP) partners that deliver services to small and medium enterprises, and are new customers to Alluvio Aternity DEM, with less than five thousand global users.

digital experience on businesscritical applications. Companies are demanding “experience level agreements” from their network providers and Alluvio Aternity allows for precise understanding of the end-user experience and all of the elements that might be of impact.

Riverbed, the leader in unified observability, today announced the launch of the new Riverbed ACE program, which includes a partner

The Riverbed ACE program was launched to help small to medium enterprises struggling to measure the impact of the digital employee experience (DEX) and customer experience. Riverbed’s market-leading Alluvio Aternity DEM measures what users actually experience to deliver a comprehensive view of

“Riverbed is taking its Alluvio Aternity DEM and turning it into a managed service as an expansion of the Riverbed go-to-market strategy as partners look for technology that can keep pace with evolving business and client needs. Riverbed ACE enables partners to provide DEM-as-a-service to small and medium enterprises, as the need for innovation is greater than ever in today’s digital workplace,” said Alex Thurber, Senior Vice President, Global Partners and Alliances, at Riverbed.

MINDWARE TO TURN SPOTLIGHT ON BUSINESS TRANSFORMATION TECHNOLOGIES

Mindware, one of the leading regional IT Value-Added Distributors in Middle East and Africa, has announced its presence at GITEX AFRICA, that will take place from 31 May - 2 June 2023 in Marrakech, Morocco. The Company’s participation will be centered around the theme of ‘Digital Transformation’.

Mr. Toni Azzi, General Manager, Qatar, Levant, and Africa at Mindware comments: “Digital transformation is high on the priority of governments and enterprises across the African continent, as they look to build resiliency and competitiveness. As a leading regional distributor with a very strong presence in Africa for over 40 years, Mindware has been working towards enabling and accelerating the digitization initiatives of partners and their

customers in the region and helping them adopt the latest technologies that will spur growth and drive economic development in the

countries they operate in.”

“GITEX AFRICA offers us the opportunity to showcase our strong, varied portfolio of market-leading vendors, solutions and services to a diverse audience and help raise awareness and establish connections with partners and customers. We have been a key participant at GITEX Dubai for the past 20 years and are looking to replicate the same success at GITEX Africa. We believe that the event will go a long way in helping us expand to new territories and enhance our footprint and coverage in the region.”

During the exhibition, Mindware will be announcing new partnerships with best-of-breed vendors and introducing brands covering the latest technologies including datacentre, networking, Cloud and security solutions.

Toni Azzi GM, Qatar, Levant, and Africa, Mindware

Alex Thurber SVP, Global Partners and Alliances, Riverbed

GENERATIVE AI TRANSFORMING THE CRM FOR ENTERPRISES

CRM software is widely used by Enterprises to manage customers and the relationship maintained with them. The software collects data related to customers and generates sales leads from different applications. The data is then provided to the employees to improve lead conversions and to provide the required support. However, there are many aspects that are still manual, tedious, and monotonous related to managing customer relations.

The recent launch of Open AI’s ChatGPT has created a buzz on Generative AI, which is a combination of NLP and ML algorithms. Generative AI technology automates tasks and creates content to respond to user queries more effectively.

CRM systems contain overwhelming data that is generated through customer interactions, comments, email communications, support tickets, and social media messaging. This data is mostly unstructured and difficult to analyze. Generative AI provides the capability to analyze unstructured data to create themes, trends, and sentiments. Analyzing the deformed data will help businesses address pain points to improve customer satisfaction.

The CRM solution when combined with Generative AI, will lead to the creation of content intended for sales, marketing material, articles, and promotions. It also helps streamline structured/unstructured data, automate system integration, lead generation, customer segmentation and support, personalized marketing messages, analytics (behavioral and predictive), target marketing, and training. It can also create meeting summaries, a to- do list, key discussion points and these can be shared with all the participants of the CRM system.

Generative AI will make the CRM easily scalable.

It will automate many customer interactions and will maintain the quality of customer experience. It can also develop customized strategies based on customer segment, related messaging and run offers to improve sales effectiveness. It will automate and personalize many aspects of customer interactions, like identifying potential leads from already stored customer data.

Recently in Feb 2023, Salesforce introduced Einstein GPT which incorporates the large language model into CRM systems to generate content for sales, services, and marketing. With over 200 billion AI-powered predictions delivered daily across Customer 360, the software also has Optical Character Recognition (OCR) capabilities.

In Feb 2023, Microsoft also launched a Generative AI solution ‘Viva Sales’ in its CRM system. The solution has automated response emails for its customers. With the Microsoft and Google War, Microsoft remains competitive with its high investments in Open AI. However, Google is losing in this race as it struggles with its Generative AI products: Bard and Magi.

One AI’s solution is supports multiple languages and it can meet specific customer needs. It can easily be integrated into the existing CRM system in a few days, and it helps to maximize lead conversions, enhance customer engagement, and improve customer ROI. Hubspot and ChatSpot.ai are a few other companies that have entered the Generative AI game in the CRM industry.

According to Frost & Sullivan's analysis, a salesperson who does not have a good command over the language or does not have competitive writing skills can utilize such tools to provide presentable and logical content for their sales pitch. Salespeople who are proficient can focus on the strategic part of the business or can utilize their time to enhance the existing content to improve effectiveness.

Authored By: Heena Juneja, Industry Analyst, TechVision, Frost & Sullivan

IDC'S EAST AFRICA CIO SUMMIT TO EXPLORE STRATEGIES FOR DRIVING DIGITAL TRANSFORMATION AND INNOVATION

East Africa's digital economy continues to expand at an unprecedented rate, disrupting the business models that organizations have traditionally embraced. As they strive to stay ahead of the curve, IT and telecom leaders, digital government pioneers, digital regulators and authorities, and industry thought leaders will come together at the IDC East Africa CIO Summit 2023 in Nairobi, Kenya on June 27 to share first-hand insights, proven best practices, and pioneering digital strategies.

Taking place at the Radisson Blu Hotel, Nairobi Upper Hill, the event will explore a wide range of topics, including strategies for partnering with digital natives, implementing effective application security, developing intelligent AIOps, and strengthening the CIO's influence. Attendees will hear from respected industry experts on the critical role of technology in creating suitable regulatory environments, enriching the talent pool, and enabling, measuring, and reporting on sustainability initiatives and diversity and inclusion drives.

The summit's keynote speaker, Jyoti Lalchandani, IDC's group vice president and regional managing director for the Middle East, Türkiye, and Africa, will present a session titled 'Strategies for the CIO and Enterprise Innovation'. During his address, he will present essential guidance on building a culture of trust, examine the ongoing move toward industry ecosystem innovation, assess the impact of decentralization, and explain why

line-of-business investment should be viewed as a springboard and not as an end state.

"The IDC East Africa CIO Summit 2023 will provide an unparalleled opportunity for the region's most prominent CTOs and CIOs to come together and explore strategies for driving innovation and growth in the digital economy," says Lalchandani. "We've no doubt attendees will find the event both informative and productive, and we're excited to help pave the way for a brighter digital future for the region."

With governments around the world increasingly looking to develop dedicated strategies for enabling the measurement and further development of the digital economy, the IDC East Africa CIO Summit 2023 will highlight the critical importance of creating suitable regulatory environments and enriching the talent pool with

the requisite skills. The agenda will also feature a series of dedicated technology focus groups, partner presentations, and CIO-led panel discussions on the following themes:

• Cyber Protection for the Threats of Today and Tomorrow

• Connecting the Distributed Cloud: From the Edge to the Core

• Enabling the Data-Driven Enterprise

• Shaping CISO Strategies for the Digital-First Organization

• Talent Development and the Demand for New Skills

• Sustainable Strategies and Technologies for Operationalization, Impact Measurability, and Business Value Creation

• Vendor Selection and Management Best Practices and Things to Look Out For

AEG PARTNERS WITH MICROSOFT AND CRAYON TO REVOLUTIONIZE SWIFT INFRASTRUCTURE IN MEA

Allied Engineering Group (AEG), the largest SWIFT service bureau globally, has announced its collaboration with Microsoft and Crayon to bring tailored and compliant solutions to financial service institutions (FSIs) that are migrating their SWIFT infrastructure to the cloud.

"We believe that this partnership represents the best strategic move for banks, as it addresses the current needs of the banking sector," said Dr. Mohamed Sadek, Group CEO of AEG. "Our tailored solutions on Azure will provide financial service institutions with the flexibility, scalability, and security they need to migrate their SWIFT infrastructure to the cloud while ensuring compliance with SWIFT CSCF regulations and guidelines. By leveraging Azure's advanced capabilities, we are enabling banks to focus on their core objectives and access limitless possibilities for the future."

Through this partnership, and leveraging Azure's advanced capabilities, AEG is providing its customers with the freedom to

offer their services as a flexible managed service.

"We are excited to collaborate with Allied Engineering Group and Crayon to provide tailored and compliant solutions for financial service institutions migrating SWIFT infrastructure to the cloud.”, said Naim Yazbeck, General Manager, Microsoft UAE. “By leveraging Azure's secure and scalable platform, we are enabling AEG to offer its customers greater

flexibility and cost savings, while maintaining compliance with SWIFT CSCF regulations and guidelines. This relationship is a testament to Microsoft's commitment to supporting the digital transformation of the financial service industry in the UAE and Middle East and Africa at large."

"We are proud of our partnership with Microsoft and AEG, which exemplifies the transformative power of combining world-class technology, industry expertise, and strategic vision," said Ziad Rizk, CEO of Crayon Middle East & Africa. "By leveraging our deep Microsoft Cloud knowledge, our robust partner ecosystem, and our extensive market reach, we are committed to supporting AEG's ground-breaking efforts in revolutionizing the SWIFT infrastructure for financial service institutions across the Middle East and Africa. Together, we are pioneering the future of digital finance and cultivating exceptional experiences for organizations and customers alike."

AEG, MICROSOFT, AND CRAYON REVOLUTIONIZE SWIFT CLOUD MIGRATION FOR FINANCIAL INSTITUTIONS."

UNVEILING THE POWER OF BUILDING TRUST AND LOYALTY: THE FINEST KEY TO ELEVATING CONSUMER EXPERIENCE

The Integrator had an exclusive interview with Mukul Singh - SVP Customer Partnerships at OMA Emirates- Solution Gulf LLC. He acknowledges the fundamental importance of customer satisfaction while highlighting the significant impact of the ever-expanding range of communication channels available to consumers.

forums in which they can talk or complain about your company.

What are the latest developments and trends in these areas?

AI: THE NEW REALITY

Artificial Intelligence in customer service goes beyond using chatbots. Its main function is data collection and analysis. By using AI for customer service, companies are achieving higher customer satisfaction rates. Consumers get directed to the right product using AI technology.

APPS TAKE A CHANCE

How has the field of customer service evolved over time, and what are some trends in this area?

The basic goal of keeping customers satisfied has always been at the heart of customer service. In the past years, it meant doling out smiles and fielding the occasional phone call from an upset customer. In the modern world, there's a whole lot more to it than that.

The biggest change in customer service is the sheer number of channels through which people can contact your business. Instead of just phone calls and snail mail, consumers can now reach you by email, social media, text message, video call, and live chat. Mobile technology has also enabled constant connectivity, giving customers 24/7 access to public

Apps used to be a nice addition to the company's digital operation. Today, they are a necessity. The Newest technologies helped turn apps into a leading customer interaction channel.

What are some of the best practices for delivering excellent customer service, and how important is customer feedback in improving customer service? Additionally, what are some effective ways to gather and analyze customer feedback?

Professionalism, Patience, and a People-first attitude are the three important qualities of an exceptional customer service. Although customer service varies from customer to customer, as long as you’re following these guidelines, you’re on the right track.

Customer feedback is crucial as it helps you to learn about customers’ needs. Thanks to this you can modify your offers and improve your

services. Find out which features of your products or services are useful and which are expendable. Generally, we do business to earn money, that’s a no-brainer. But we can’t earn money if we don’t find people who can benefit from our offers.

How to collect customer feedback effectively and what ethical considerations should businesses keep in mind for customer experience?

"Your most unhappy customers are your greatest source of learning"Bill Gates.

If we don't know what is wrong, we cannot improve service by doing a better job. Without customer feedback, it's hard to pinpoint the actual issues. Also, acquiring a new customer cost up to x 25 times more expensive than keeping an existing one.

The strategy of gathering and implementing changes

1. Ask for customer feedback.

2. Categorize the feedback.

3. Act on the feedback.

4. Follow up with customers who shared feedback.

Ethical behavior of a company with its customers includes (but is not limited to) providing true information and impressions to customers. The level of respect and care must remain the same even if one customer is not as big and profitable as another customer may be. Serious companies do offer special incentives to their most loyal customers.

Mukul Singh SVP Customer Partnerships, OMA EmiratesSolution Gulf LLC

ELEVATING ENTERPRISE SECURITY WITH FIDELIS ELEVATE

Fidelis Cybersecurity is a cybersecurity company focused on threat detection, hunting, and targeted response of advanced threats and data breaches. The Integrator spoke with Ivan Dolensky, Senior Vice President - International Sales, Fidelis Cybersecurity, about their business in the region and how their platform is catering to the data security of the region's enterprises at GISEC 2023.

Could you brief us on your objectives of being here at GISEC 2023?

We are here to strengthen our partnership with our local partner CyberGate. This is a very focused and professional event. We would like to collaborate with our partners while also certifying them. We believe we need more local employees and better partnerships to solve problems and provide extended sales and support in the region. At the same time, we’d like to increase awareness for the value that we bring to customers in the region with CyberGate Defense

What solutions did you showcase at GESIC 2023?

We showcased the Fidelis Elevate platform, which is an open and active Extended Detection and Response (XDR) solution. Fidelis Elevate is an open XDR, because users can purchase the entire solution from us, but may prefer to connect with their legacy endpoint solutions. We uniquely integrate deception technologies into our XDR platform. This is what makes it an active XDR platform – it shifts the user to proactive cyber defense by enabling them to detect threats before they infect and stop business operations.

What is that one unique feature that you endorsed to businesses here?

The Fidelis Elevate platform collects a very unique and rich set of metadata which are decoded attributes of traffic that can be used for analytics. The platform can perform present and historical analysis. Things that occurred in the network in the past are visible.

This can aid in the analysis of any potential threats from the previous database. As a result, the platform will give you much-needed clarity. This is known as retrospective analytics. You can also specify how long the metadata will be kept. People associate metadata with very limited offsets that come from either the network protocol known as NetFlow or other limited collections. Our platform is different in that we analyze data on the wire, including content and context data, which is basically 300+ attributes from every port and protocol - all traffic on the network. You can also define a window that can start from 30 days to 360 days and go back quickly.

What industry verticals are you targeting with your platform? Typically, we focus on critical infrastructure. In terms of specific verticals, we focus on financial services and insurance, utilities, local governments, and the military. This platform is for anyone who values their data. Post-Covid the healthcare sector too has become prominent to us.

How do you see business in the Middle East evolving?

The proportion of our business in the Middle East is increasing. We began with a base in Dubai and expanded to Riyadh, Saudi Arabia, about 6 years ago. We also see our businesses expanding in neighboring countries such as Egypt and Qatar. However, Saudi Arabia and the United Arab Emirates generate most of the revenue in the region.

What is the one piece of advice you would give to companies looking to improve their cyber security?

There are two types of people: those who understand the problem, and those who seek advice, it is vital to have an appropriate open communication line with both. The problem cannot be solved unless companies evaluate their environment, check the security perimeter of their infrastructure, understand what the risks are and conduct proper identification of the vulnerabilities therefore deploy technologies/solutions that can protect, detect, respond and neutralize any advanced threats before they cause harm to the business.

Ivan Dolensky SVP - International Sales, Fidelis Cybersecurity

INTERVIEW

The Integrator had an exclusive interview with Sakkeer Hussain, Director - Sales and Marketing at D-LINK Middle East where he discussed about driving digital transformation and educating partners and customers about same.

Sakkeer Hussain Director - Sales and Marketing, D-LINK Middle East

What are the key drivers of digital transformation in the UAE market and how is D- Link actively participating in this?

The UAE is a digital trailblazer and a digital visionary. One of the biggest factors that is driving digital transformation in the Emirate is the focus on e-governance. This is leading to excellent automated and 24/7 services all contributing to making citizens’ and residents’ lives seamless and efficient. The UAE proactively embraces new technologies and implements strategies such as the recent Digital Economy strategy.

Another factor driving DX in the country is the increasing appetite for advanced technologies and evolving customer demands.

D-Link has been at the forefront of understanding these evolving customer demands and staying ahead of the curve by offering pioneering solutions. We are aligned with the vision of the UAE, and we are helping customers move into the cloud-led age. We have cloud-first and AI-integrated products and solutions in our portfolio, which lays the foundation to organizations’ digital future.

What are the major challenges faced by you in the UAE when implementing digital transformation strategies?

Some of the challenges to successfully deploying digital transformation all over the world includes dealing with legacy systems, skills gap in advanced tech, hesitation from stakeholders to embrace digital and new ways of doing things. Increasingly we are observing that these challenges are gradually becoming non-issues as a wider and better understanding of digital transformation takes place in the region.

What are the benefits that D- link is expecting from implementing digital transformation

strategies?

The benefits of digital transformation are far and wide. From enhanced efficiency, higher productivity to reduced operational cost and large-scale automation, digital transformation strategies will completely change the way businesses function for the better. It will offer companies greater levels of agility and flexibility and help to achieve core business objectives without any hassles. Ultimately, it will help with profitability and modernization, two key elements for business continuity.

Tell us about the products and the services of D- link that will help in enhancing the digital transformation journey of the company. Digital transformation of companies will be defined by cloud, cybersecurity, connectivity, and AI technologies and all these are integral to D-Link’s portfolio. D-Link AQUILA PRO AI Series Wi-Fi 6/6E mesh routers and extenders are designed to enhance connectivity and reliability of smart home networks. This cutting-edge mesh Wi-Fi system will be compliant with the latest Matter standard and features a built-in the new Wi-Fi 6/6E mesh router boasts a unique design that balances aesthetics and functionality. With the D-Link mesh Wi-Fi system, users can enjoy up to 7,800 Mbps of lightning-fast tri-band speeds, enhanced coverage, and a smarter, more reliable whole home Wi-Fi network. The router is equipped with one 2.5 Gbps WAN port and four 1Gbps LAN ports, making it the ideal choice for providing uninterrupted connectivity to gaming consoles, 4K/8K TV streaming, PCs, and other network devices.

D-Link's latest AQUILA PRO AI series includes six models: the MS78, MS60, MS30, M60, M30, and E30. The AQUILA PRO AI Series Wi-Fi 6/6E Mesh system will be available starting in Q2, 2023.

CROSSING BORDERS WITH BKN301, A NEW FINTECH FOR THE MIDDLE EAST

During the Dubai Fintech Summit, The Integrator had the opportunity to speak with Stiven Muccioli about his company's services and his insights on the potential of the MENA fintech market. Muccioli attended the summit to explore new opportunities and gain a deeper understanding of the fintech landscape in the region.

Introducing Stiven Muccioli

Stiven Muccioli is the CEO and founder of BKN301, a leading Banking-as-a-Service firm and of the venture capital firm SM Capital. He is a serial tech entrepreneur with extensive experience working in the fintech sector. In this role, he is responsible for overseeing all aspects of the company's operations, including strategic planning, product development, customer acquisition, and retention.

Can you tell us about your career journey and what inspired you to create BKN301?

I started my fintech career 12 years ago with a startup focused on online eCommerce and prepaid cards. At the time, the future of financial services was linked to eCommerce and customer-centric solutions. So, with all my understanding gathered to date, I can say that with the appropriate mix of services, you can leverage and tap into people's financial activity. So, with the requirements of people and businesses in mind, we developed a super application that connects services such as eCommerce, peer-to-peer services, cross-border services, and others for people’s financial needs.

Our goal was to create a comprehensive solution that meets the financial needs of individuals and businesses in the Middle East and North Africa region. It has around 50 per cent of unbanked population, making it one of the regions with the highest proportion of unbanked individuals in the world.

The embedded finance industry in the MENA region is projected to grow at a compound annual growth rate (CAGR) of 27.8 per cent to USD 39,820 million by 2029, from USD 10,359 million in 2022. This has also led to a remarkable progress in the fintech sector, which is witnessing adoption and utilisation of innovative technologies. We are working relentlessly

to bridge the gaps and provide businesses in the region access to our ground-breaking payment solutions and services. As pioneers in introducing integrated financial technologies to the region, we take great pride in our accomplishments. Our unwavering commitment to continuous innovation drives us to enhance our services and provide an even better experience for our valued customers.

What are some current challenges in this space, and what strategies do you have in place to address them?

We operate in the B2B business sector, and our main challenge is finding the right fintech partners to provide our services. These partners need to have a wide reach in their respective countries and a good understanding of the changing behaviours of their local populations.

The second challenge is the regulatory hurdles that corporations face in different countries. Our company's objective is to build businesses that comply with regulatory norms in different nations. Currently, we are operating in San Marino, Georgia, Egypt, and Qatar, and our next focus will be on Saudi Arabia, Jordan, Central Asia, and South Asia. To address these challenges, we are continuously searching for the right partners and working closely with regulators to ensure compliance with local laws and regulations.

Stiven Muccioli Founder & CEO, BKN301

SEAMLESS FLOW OF DATA UNDERPINS DIGITAL TRANSFORMATION INITIATIVES

By: Fred Crehan, Area Vice President, Emerging Markets at Confluent

Digital channels are becoming the primary touchpoint between consumers and businesses. Today, its likely prospects will first engage with your brand via your website, and through the course of their customer journey, they’re far more likely to rely on apps, web portals, instant messaging services or email to avail of services than traditional in-person channels.

For organisations, digital transformation is no longer a buzzword – it’s an imperative, as IT is now inextricably tied to every process, every service and ultimately, every experience. It’s here that issues arise as digital evolution can only be considered successful when the outcomes match ever increasing customer expectations. Just having an app is no longer sufficient – rather that’s a given. Research by Gartner has found that customer experience drives over two-thirds of customer loyalty, outperforming price and brand combined. it’s no surprise either that The World Economic Forum projects that the value of digital transformation could be as high as $100 trillion over the next decade.

LEGACY SYSTEMS ARE STILL A TREASURE TROVE OF DATA

In recent years, traditional data centres with mainframe or aging architectures have been struggling to support the modern business, which includes the scale and speed required to meet new customer and regulatory demands. Organisations have found it increasingly difficult to justify the significant CapEx costs associated with the upgrade and maintenance of these legacy environments. The growing regional investments by global hyperscale’s, and widespread acceptance of public cloud has only fuelled these frustrations and Gartner estimates that enduser expenditure on public cloud services in the Middle East and North Africa (MENA) region will reach US$ 5.7billion this year.

While the benefits of public and hybrid cloud models are clear, the one critical thing to remember is that data centres can still manage critical business processes and hold key functionality that has been developed over many years. This allows them to hold data, and a lot of it.

A STEADY MODERNISATION PACE BEATS RIP AND REPLACE

With the onslaught of digital transformation many believed the easiest thing to do was to start from scratch when it came to the technology to run the business. It soon became clear though it was too expensive, too complex, and simply just over ambitious. In fact, research from Micro Focus found 45% of enterprises ripping and replacing their application software were dissatisfied with the result.

Instead, enterprises need to utilise what they already have and retain those core elements of their existing infrastructure and look to the route of IT modernisation ensuring they can continuously transform the business over a period.

INVEST IN BUILDING DATA PIPELINES

It is clear businesses need a new way to handle data, one that supports collecting a continuous flow of data from across the business, between apps, databases, SaaS layers and cloud providers. They need something that links modern services and valuable legacy

FOR ORGANISATIONS, DIGITAL TRANSFORMATION IS NO LONGER A BUZZWORD – IT’S AN IMPERATIVE, AS IT IS NOW INEXTRICABLY TIED TO EVERY PROCESS.

DIGITAL TRANSFORMATION : ORGANISATIONS COULD BENEFIT FROM TAKING A STEP BACK

By: Prasad Ramakrishnan, Chief Information Officer, Freshworks

Few events in recent history accelerated digital transformation more than the pandemic. Responding to new customer demands, workforce paradigms, and government mandates, organisations went from dragging their feet to an all-out sprint in a matter of days. These rushed investments met their shortterm goals, enabling business to continue to remain operational and relevant in the new normal.

But now, as economic pressures mount and long-term objectives take precedence over short-term needs, the effectiveness of the complicated, unintuitive IT environments that were created in the wake of forced digital transformation must be called into question.

Indeed, if the promises of digital transformation – streamlined operations, more intuitive systems, greater productivity, and enhanced CX and EX – are to be realised, then rather than doubling down on decisions that were hastily made under unprecedented circumstances, IT leaders could benefit from taking a step back.

NO MORE BANDAIDS TO SHOTGUN BLASTS

For all the talk about change being the only constant, the on-ground reality is that most organisations will put up with sub-optimal IT solutions rather than enduring the agony of ‘rip and replace’. Instead, they opt for workarounds, aiming to overcome the shortcomings of poorly designed software with hastily written code. This might do the trick and even appear to deliver cost savings. But once again, all this serves to do is delay (and exacerbate) the underlying issues.

SHOP AROUND

A major driver of digital acceleration is the fact that today, customers have more choice than ever before. If your business can’t deliver tangible value, customers – both potential and existing – will have no qualms with shifting to a provider that can. So why not adopt this mentality when your organisation is in the coveted spot of being the customer?

Most well-known business software solutions come with a hefty price tag and require a team

of consultants to help get them set up and running. This certainly plays a factor in companies favouring to ‘make do’ rather than rip and replace. But not all solutions are equal, and it pays to shop around. Audit what you have, what you use, and take notice of the features you don’t use.

STRATEGIZE FOR SUCCESS

Planning for the future is a mustand having IT leaders at the strategic planning table is crucial. Including your frontline workers will help ensure you have the right product road map, and the right people and tech for the long term.

ONE STEP BACK, TWO STEPS FORWARD

With new tech buzzwords dominating headlines every other month, it’s easy to empathise with overworked IT teams who fix their focus so firmly on the future, that they fail to recognise the challenges brewing due to prior decisions. But to ensure long-term digital transformation success, taking the time to first address tech debt is a safe bet.

PLANNING FOR THE FUTURE IS A MUST - AND HAVING IT LEADERS AT THE STRATEGIC PLANNING TABLE IS CRUCIAL.

UNLEASHING GROWTH AND INNOVATION: THE VITAL ROLE OF DIGITAL TRANSFORMATION IN B2B BUSINESSES

Digital transformation is becoming increasingly important for B2B businesses as they seek to keep up with the changing marketplace and consumer expectations. The integration of digital technology into all areas of a business, resulting in fundamental changes to how businesses operate and deliver value to customers.

One of the key changes in attitudes towards digital transformation in recent years has been the recognition of its strategic importance. Rather than seeing it as simply a cost-cutting measure or a way to streamline existing processes, businesses are increasingly viewing digital transformation as a means of driving growth and innovation. By leveraging the power of digital technologies, businesses can unlock new opportunities for revenue generation, improve customer experience, and gain a competitive

edge in the marketplace.

The evolution of the business model infrastructure has been a key driver of this shift towards digital trade. In the past, many B2B businesses relied on legacy systems that were often slow, inflexible, and difficult to integrate with other systems. As a result, businesses were limited in their ability to respond quickly to changing market conditions or customer needs. The shift towards digital trade has been driven by several factors, including the rise of e-commerce, the growing importance of data analytics, and the need for greater efficiency and agility in business operations.

Today, however, digital systems have become the norm, with cloud-based platforms, mobile applications, and other digital tools providing businesses with unprecedented levels of flexibility and agility. These systems allow businesses to quickly adapt to changing market conditions,

experiment with new business models, and rapidly scale their operations as needed. In today's rapidly evolving business environment, digital transformation has become a critical component for B2B businesses to remain competitive and achieve sustainable growth.

The emergence of digital technologies has influenced the evolution of business model infrastructure, leading to the replacement of traditional legacy systems, which relied on manual processes and paper-based documentation, with digital systems that offer increased efficiency and effectiveness for business operations.

Overall, the importance of digital transformation in B2B businesses cannot be overstated. By embracing digital technologies and evolving their business model infrastructure, businesses can position themselves for long-term success and growth in an increasingly competitive marketplace.

Suchit Kumar, CEO, TEXUB

EXTENDING CYBERSECURITY TO EMPLOYEES NO MATTER WHERE THEY’RE WORKING

By Peter Newton, Senior Director of Products and Solutions, IoT and OT, Fortinet

For many employees, the traditional workplace has evolved over the past 20+ years into today’s workfrom-anywhere (WFA) environment. And recently, this evolution, with a boost from 2020’s global pandemic shutdowns, has accelerated at breakneck speed.

While IT leadership is desperately trying to provide consistent support and protection for their WFA people, there’s never been a more opportune time for cybercriminals to take advantage of the new challenges, vulnerabilities, and expansion of the attack surface.

The new report reveals that 62% of respondents indicated their organizations experienced a security breach during the past two to three years that could be at least partially attributed to an employee working remotely.

THE CYBERSECURITY MESH PLATFORM

Supporting a hybrid workforce that works from multiple locations puts a significant amount of pressure and responsibility on networking and security teams. The onus is on them to upgrade legacy technologies like VPN with more advanced solutions that improve both WFA cybersecurity and the user experience.

It is almost impossible to secure a WFA environment using non-compatible endpoint protection, EDR, identity, and firewall solutions from multiple vendors. One of the best-advanced solutions that organizations can deploy to protect their WFA employees is a cybersecurity mesh platform from one vendor that delivers endpoint, network, and remote access security.

Four Other Advanced Technologies for Today’s WFA:

1. ENDPOINT PROTECTION

Because people often take their company-issued laptops and connect to the organization’s network via unsecured public access points, endpoint protection is a necessity. CISOs and IT teams require an endpoint detection and response (EDR) solution that combines cloud-based artificial intelligence with automated playbooks to keep devices and their associated employees productive and secure.

2. APPLICATION ACCESS CONTROL

IT cybersecurity teams require a zero-trust network access (ZTNA) solution that acts as an access policy engine and controls access to applications and more. This technology provides appropriate access for employees based on user and device identity, location, device type, and posture to establish secure access.

3. CLOUD-BASED CYBERSECURITY SERVICES

A cloud-based cybersecurity service such as secure access service edge is ideal for protecting WFA staff—whether they're working from a hotel room, a train station, a restaurant, or their home. EDR and ZTNA solutions can secure the endpoint and control application access, but access to the internet should be protected by a cloud-based secure web gateway and Firewall-as-a-Service services for secure connectivity from different locales.

4. AUTHENTICATION TOOLS

Identity and access management (IAM) tools are also important to successfully protecting WFA employees when they are working off-site.

ENSURING CYBERSECURITY FOR REMOTE EMPLOYEES IS NOT A CHOICE BUT A NECESSITY IN THE RAPIDLY EVOLVING WORK-FROM-ANYWHERE LANDSCAPE.

FIVE PHASES OF DIGITAL TRANSFORMATION IMPLEMENTATION

By: Seshika Fernando, Vice President - Banking and Financial Services at WSO2

Gartner has famously developed a digital transformation methodology which breaks down the initiative into five successive phases – Ambition, Design, Deliver, Scale, and Refine.

You could consider adopting this methodology, with necessary adaptations to the unique circumstances of your organisation – a contextual adaptation that must apply to any procedure where there is an inherent difference between theory and practice. Below are some pointers you could consider aligned to the three foundational pillars of digital transformation .

ORGANIZATION

An effective method you could adopt is to establish an innovation lab to foster incubation, then staff it properly. The best way to do this is by offering your in-house developers a rotating “residency” of, typically, six to eight months.

Part of the staffing equation is to make sure that these residents can dedicate the same kind of attention to the project as a hermit monk dedicates to their devotions. This means dedication to this one project to the exclusion of all others. It also means

freedom from the “Keep the Lights On” requirements of their day jobs. While securing the talents of the best direct contributors is of paramount importance, these specialists need guidance and “air cover” to keep them on-task. That is why it is so important to establish a digital transformation steering committee composed of senior and even top management.

TECHNOLOGY

While there are any number of reasons to keep a close eye on lowcode and no-code development, we encourage you to use them, as they cut costs, cut reliance on niche engineering talent, and importantly, also cut time to market.

Also, do not shy away from using open-source code. For example, in the banking sector, the Fintech Open-Source Foundation (FINOS) is dedicated to the unique challenges of developing software -- and especially APIs.

Understand that you are not reinventing the wheel, or even the API. According to Gartner, API management deployments fall into

Three use cases:

• Multi-experience architecture

• Integration using APIs.

• Internal API management

With this typology in mind, it might be easier to get your head around the complexity of the challenges you are about to face.

PRODUCT

The Massachusetts Institute of Technology (MIT) identifies five key digital capabilities drawing from a case study it did on the successful digital transformation of the Singaporean Bank, DBS Group . Three of them are customer-facing:

• Acquire: Widen distribution while lowering acquisition costs.

• Transact: Eliminate paper and create instant fulfilment while lowering processing costs.

• Engage: Increase lifetime value of customers by cross-selling through contextual marketing. On the layer below that, digital transformation can take the form of establishing development platforms to speed time to market. And all this is predicated on using data to drive insights into customer behaviour.

ESTABLISHING AN INNOVATION LAB AND STAFFING IT WITH DEDICATED DEVELOPERS IS THE KEY TO FOSTERING SUCCESSFUL DIGITAL TRANSFORMATION.

CHATGPT'S IMPACT ON CYBERSECURITY AND THE THREAT IT POSES TO FINANCIAL INSTITUTIONS

By: Aaron Mulgrew, Solutions Architect at Forcepoint

One of the key concerns with using ChatGPT in financial institutions is the potential for malicious actors to exploit the system. As a Large Language Model, ChatGPT relies on the data it has been trained on, which includes information from a wide range of sources. This means that if not properly controlled, it may inadvertently reveal sensitive information or be susceptible to prompt manipulation by cybercriminals, as we have seen with my blog where I use ChatGPT to develop malware that is not detected by detection-based technologies.

Moreover, financial institutions must be cautious about the types of queries and requests that ChatGPT is allowed to handle. Conversations related to sensitive financial transactions, account information, or personal identification details should be closely monitored, and appropriate access controls should be implemented. Forcepoint DLP and Insider Threat products can help with ensuring sensitive data is

monitored and prevented entering the ChatGPT textbox. This can help minimize the risk of inadvertent disclosure or unauthorized access to critical information.

To counter the threat of adversarial attacks, financial institutions should continuously update and refine their LLM models, where a private closed source LLM could make more sense than using publicly available tools like ChatGPT as the data can then be stored locally opposed to being sent to a

remote server. Implementing robust anomaly detection mechanisms can also help identify suspicious patterns in conversations and trigger appropriate security measures. However, most of the technology able to do this hasn’t been refined in any meaningful way yet, presenting an opportunity for the cyber security world but also a threat for the financial services industry.

Additionally, ongoing monitoring and auditing of ChatGPT's activities can provide valuable insights into its performance and behavior. This enables prompt detection of any potential security breaches or abnormalities in its operation, allowing for timely response and mitigation.

Overall, I would recommend that the financial services industry should look at a private LLM for use internally if they are worried about the privacy aspect of deploying advanced Chatbots like ChatGPT.

TO COUNTER THE THREAT OF ADVERSARIAL ATTACKS, FINANCIAL INSTITUTIONS SHOULD CONTINUOUSLY UPDATE AND REFINE THEIR LLM MODELS.

4 REASONS WHY DIGITAL TWIN IS DRIVING DIGITAL TRANSFORMATION

Digital transformation has become a priority for many firms in the rapidly changing world of today. In order to create value, increase efficiency, and ultimately maintain market competitiveness, it entails integrating digital technology and making use of open and private data in all facets of an organization. One of this transformation's most intriguing developments is the idea of the "Digital Twin," which opens up fascinating possibilities for businesses.

A Digital Twin is a virtual representation of an asset along with its real equipment, system and process. It is implemented and used by using real-time data collected from sensors, IoT devices, and other sources. This realistic digital visualization allows end-users to monitor, analyze and simulate the behavior and performance of the real-world asset through a variety of scenarios and use cases, enhancing your internal capabilities to Observe, Orient, Decide & Act in real time at any time when the situation requires it. Here are 4 tangible examples why Digital Twin is already playing a key role in Digital Transformation.

1. Operational Optimization: The Digital Twin provides real-time display and awareness, immersing users into their operations and enabling enhanced analysis of performance, detection of potential issues, and process optimization. This allows businesses to improve operational efficiency, reduce costs, optimize resource utilization, and minimize downtime in business continuity.

2. Informed Decision Making: By using the Digital Twin, decisionmakers have a powerful tool to identify and evaluate different strategies before implementing

them in the real world. This helps to mitigate risks, anticipate potential problems, and optimize decisions. Real-time trusted data, combined with advanced analytics provided by the Digital Twin enable informed decision-making based on concrete facts and actionable data.

3. Innovation and simulation “What if?”: The Digital Twin offers new opportunities for innovation, such as virtual simulation. Customers such as Municipalities can virtually simulate and directly test new scenarios, evaluate performance, optimize areas, and reduce time to decision. This enables the development of a higher-quality environment, improves the citizen experience, and maintains competitiveness in a rapidly changing environment.

4. Predictive Maintenance: Through the Digital Twin, it is possible to monitor the real-time performance of any equipment or machinery. This allows for the detection of early signs of failure, anticipation of breakdowns, and implementation of predictive maintenance operations. By avoiding unexpected downtime, critical infrastructure can save significant costs and improve both

business continuity and customer satisfaction by ensuring continuous service availability.

The digital transformation of vertical markets like smart cities, transportation, energy and utilities infrastructure or sport and leisure venues depends heavily on the Digital Twin. It offers new opportunities for operational optimization, informed decisionmaking, innovation, and predictive maintenance. Businesses can use planning, real-time management, simulation, and post-event analysis to promote efficiency, agility, and competitive advantage.

Naoufal El Ouali, Co-Founder and CEO, Obvious Technologies

A DIGITAL TWIN IS A VIRTUAL REPRESENTATION OF AN ASSET ALONG WITH ITS REAL EQUIPMENT, SYSTEM AND PROCESS.

5 REASONS WHY STARTUPS AND SMES SHOULD “HIRE” AI & CHATGPT

By: Ramy Jallad, Group CEO, RAKEZ

AI-POWERED CHATBOTS ARE TRANSFORMING STARTUPS AND SMES WITH EXCEPTIONAL CUSTOMER EXPERIENCE.

When startup and SME leaders organized their “New Year’s Resolutions” in the face of growing economic concerns at the start of 2023, five months ago, we saw business leaders across the public and the private industries begin to prepare for ‘survival’.

This included long to-do lists to target “pain points” in organizations, hire and retain highly skilled staff, invest in automation, reach high targets to make up for lost years, and diversify in terms of investments, products, services, and geographiesall with a digital-first approach.

Then came ChatGPT and the artificial intelligence boom.

COST-EFFECTIVE

One of the most significant benefits of using AI and chatbots is the costeffectiveness so far. For startups and SMEs with limited budgets, hiring additional employees may not be an option. AI and chatbots offer an affordable alternative that can handle repetitive and time-consuming tasks.

24/7 AVAILABILITY

One of the biggest advantages of

AI and chatbots is their ability to operate 24/7 without the need for breaks or time off. This means that businesses can provide their customers with round-the-clock support and service, regardless of their location or time zone. This is particularly useful for businesses that operate in different parts of the world and want to provide their customers with uninterrupted service.

For instance, a startup that provides an e-commerce platform can integrate chatbots to handle customer inquiries, order placement, and tracking.

IMPROVED EFFICIENCY

Why did the AI get a promotion? –automated / machine learning?

Jokes apart, AI and chatbots can significantly improve efficiency by automating repetitive tasks and freeing up time for employees to focus on higher-level tasks. This not only saves time but also reduces the risk of human error.

For example, chatbots can be used to process customer orders, reducing the need for manual data

entry. This ensures that the data is accurate, reducing the risk of errors.

SCALABILITY

Scaling your business with AI and chatbots is like adding rocket fuel to your growth trajectory!

One of the biggest challenges for startups and SMEs is scaling their operations as their business grows. Hiring additional employees can be costly and time-consuming, especially if the business needs to expand quickly. AI and chatbots can help businesses scale their operations more efficiently and cost-effectively.

For example, a startup that provides a software application can integrate AI to handle customer inquiries, bugs, and other issues.

IMPROVED CUSTOMER EXPERIENCE

Chatbots can be programmed to understand the customer's query and provide relevant solutions. This can include suggesting products, offering discounts, or resolving issues.

GARTNER ANNOUNCES THE TOP 10 GOVERNMENT TECHNOLOGY TRENDS FOR 2023

CIOs Should Use These Trends to Shape Government Modernization, Insights and Transformation

Gartner, Inc. identified the top 10 government technology trends for 2023 that can guide public sector leaders in accelerating transformation as they prepare for post-digital government and a relentless focus on mission objectives.

“Not only is the current global turmoil and technological disruption putting pressure on governments to find a balance between digital opportunities and risks, it also presents solid opportunities to shape the next generation of digital government,” said Arthur Mickoleit, Director Analyst at Gartner. “Government CIOs must demonstrate their digital investments aren’t just tactical in nature as they continue to improve service delivery and core mission impacts.”

ADAPTIVE SECURITY

Gartner predicts that by 2025, 75% of government CIOs will be directly responsible for security outside of IT, including operational and missioncritical technology environments. The convergence of enterprise data, privacy, supply chain, cyber-physical systems (CPS) and cloud requires an integrated security approach.

CLOUD-BASED LEGACY MODERNIZATION

Leading governments are under pressure to break down legacy, siloed systems and data stores to modernize IT infrastructure and applications to ensure more resilient government services. CIOs can use adaptive sourcing strategies to identify areas where “as-a-service” delivery models augment internal resources and address business priorities. Gartner predicts over 75% of governments will operate more than half of workloads using hyperscale cloud service providers by 2025.

SOVEREIGN CLOUD

Global uncertainty, as well as concerns over data privacy and potential government overreach, are resulting in greater demand for sovereign clouds. Governments are increasingly seeking to limit exposure of data and infrastructure by external jurisdictions and foreign government access. Gartner predicts over 35% of government legacy applications will be replaced by solutions developed on lowcode application platforms and maintained by fusion teams by 2025.

HYPERAUTOMATION

According to Gartner, 60% of government organizations will prioritize business process automation by 2026, up from 35% in 2022. Hyperautomation initiatives support business and IT processes in government to deliver connected and seamless citizen services.

AI FOR DECISION INTELLIGENCE

By 2024, Gartner predicts 60% of government AI and data analytics investments will directly impact real-time operational decisions and outcomes. AI for decision intelligence provides governments with rapid, accurate and early decision-making capabilities at scale.

DATA SHARING AS A PROGRAM

Data sharing as an ad hoc effort among agencies and departments is no longer sufficient given the demands to drive value from data and analytics. By the end of 2023, Gartner predicts 50% of government organizations will establish formal accountability structures for data sharing, including standards for data structure, quality and timeliness.

TOTAL EXPERIENCE (TX)

By 2026, government total experience (TX) approaches will reduce process ambiguity by 90%, while increasing satisfaction metrics for both customer experience (CX) and employee experience (EX) by 50%. TX creates synergies and coherence among traditionally siloed disjointed CX, EX, multiexperience (MX) and user experience (UX) disciplines in support of government transformation.

DIGITAL IDENTITY ECOSYSTEMS

Gartner predicts over a third of national governments will offer citizens mobile-based identity wallets by 2024. Governments are facing new responsibilities in emerging digital identity ecosystems, with expectations to ensure trust, innovation and

KASPERSKY EXPERTS WARN OF INCREASED IT SUPPLY CHAIN ATTACKS BY OILRIG APT IN THE MIDDLE EAST AND TURKIYE

During the annual Cyber Security Weekend 2023 for the Middle East, Turkiye and Africa which was recently held in Almaty, Kazakhstan Kaspersky researchers announced the discovery of a series of attacks by a new malware supposedly developed by the infamous OilRig Advanced Persistent Threat (APT) group that has been active in the Middle East and Turkiye for over a decade. The group is known for targeting highprofile government entities across the Middle East, Turkiye and Africa for cyberespionage purposes.

The OilRig APT commonly uses social engineering tactics, exploits software and technical vulnerabilities within its victims. However, Kaspersky experts noticed the group has updated their arsenal, resorting to persistent, stealthier ways of infiltrating their targets through third-party IT companies.

During an ongoing investigation that started in late 2022, Kaspersky experts discovered that the APT group has executed PowerShell scripts to gain access to terminal servers at IT companies in the region to collect credentials and sensitive data about their targets. The group used the stolen information to infiltrate their targets and deploy malware samples that relied on Microsoft Exchange Web Services to perform Command & Control (C2) communications, and steal data. The investigated malware appeared to be a variant of an older malware used by the threat actor.

To ensure persistent stealthy access, the group deployed a new DLL-based password filter, which enabled them to intercept local/domain password changes. This allowed the attackers to receive updated passwords along with other stolen and sensitive data sent from their targets’ email services to attacker controlled Protonmail and Gmail addresses.

“OilRig has taken the meaning of “stealth mode” to the next level with its complex and heavily modified tactics, techniques, and procedures to exploit thirdparty IT companies. It is evident from our investigation that third-party attacks are stealthier, agile and remain undetected in comparison to other tactics, posing a grave risk to the functioning of government entities in this region. The radical shift to infiltrate IT companies that are part of a supply chain is an indication that regional government entities are stepping up their cybersecurity game, driving APT groups to think out of the box” said Maher Yamout, Senior Security Researcher at Kaspersky. Kaspersky researchers recommend governments and

businesses follow the below tips and protect themselves from falling victim to third-party supply chain attacks:

• Invest and build a holistic, well-integrated cybersecurity approach that protects data and assets beyond the parameters of your organization.

• Leveraging Threat Intelligence is key. Using solutions like the Kaspersky Threat Intelligence Portal can equip IT teams with real-time data and insights and provide access to a rich source of expertise to build a strong defense.

• Conduct a penetration test within your organization and don’t leave out your third-party service providers.

• Your cyber defense is as strong as your employees, who are considered the first line of defense. Arm them with the right knowledge through solutions like the Kaspersky Automated Security Awareness Platform that automates cyber-awareness training for companies of any size.

• Backup your data regularly and scan it from time to time to maintain integrity.

Maher Yamout

Senior Security Researcher, Kaspersky

FAKE WEBSITES IMPERSONATING ASSOCIATION TO CHATGPT POSES HIGH RISK

Highlights:

• Check Point Research (CPR) sees a surge in malware distributed through websites appearing to be related to ChatGPT

• Since the beginning of 2023, 1 out of 25 new ChatGPT-related domain was either malicious or potentially malicious

• CPR provides examples of websites that mimic ChatGPT, intending to lure users to download malicious files, and warns users to be aware and to refrain from accessing similar websites

The age of AI – Anxiety or Aid?

In December 2022, Check Point Research (CPR) started raising concerns about ChatGPT’s implications for cybersecurity.

In our previous report, CPR put a spotlight on an increase in the trade of stolen ChatGPT Premium accounts, which enable cyber criminals to get around OpenAI’s geofencing restrictions to secure unlimited access to ChatGPT.

We have identified numerous campaigns that mimic the ChatGPT website with the intention of luring users into downloading malicious files or disclosing sensitive information. The frequency of these attack attempts has been steadily increasing over the past few months, with tens of thousands of attempts to access these malicious ChatGPT websites.

Since the beginning of 2023 until the end of April, out of 13,296 new domains created related to ChatGPT or OpenAI, 1 out of every 25 new domains were either malicious or potentially malicious.

FAKE DOMAINS

One of the most common techniques used in phishing schemes are lookalike or fake domains. Lookalike domains are designed to appear to be a legitimate or trusted domain at a casual glance. For example, instead of the email address boss@company.com, a phishing email may use boss@cornpany.com. The email substitutes ‘rn’ for ‘m’. While these emails may look authentic, they belong to a completely different domain that may be under the attacker’s control.

Phishers may also use fake but believable domains in their attacks. For example, an email claiming to be from Netflix may be from help@netflix-support.com. While this email address may seem legitimate, it is not necessarily owned by or associated with Netflix.

Here are some examples of the malicious websites we have identified:

• chat-gpt-pc.online

• chat-gpt-online-pc.com

• chatgpt4beta.com

• chat-gpt-ai-pc.info

• chat-gpt-for-windows.com

Once a victim clicks on these malicious links, they are redirected to these websites and potentially exposed to further attacks:

What to Do if You Suspect a Phishing Attack

If you suspect that a website or email may be a phishing attempt, take the following steps:

1. Don’t Reply, Click Links, or Open Attachments: Never do what a phisher wants. If there is a suspicious link, attachment, or request for a reply do not click, open, or send it.

2. Report the Email to IT or Security Team: Phishing attacks are commonly part of distributed campaigns, and just because you fell victimto the scam does not mean that everyone did. Report the email to IT or the security team immediately, so that they can start an investigation and perform damage control as quickly as possible.

3. Delete the Suspicious Email: After reporting, delete the suspicious email from your Inbox. This lessens the chance that you will accidentally click on it, without realizing it later.

4. Beware of lookalike and fake domains: Note the language, the spelling and content within the website you are clicking on. Note “small” mistakes in spelling and content that requires you to download files.

EMPOWERING UAE’S WOMEN TO ACHIEVE FINANCIAL LITERACY AND INCLUSION

By Akshay Sardana, VP - Strategy & International Development, The Continental Group

Many studies over the years have established financial literacy as a determinant of socioeconomic conditions. Multi-generational financial literacy and planning have propelled many toward the upper echelons of the world. As often as not, in the absence of financial literacy, women get the short end of the stick because of certain entrenched gender inequalities and other distinct factors. That indeed explains the UAE’s growing efforts in advancing women’s financial literacy.

The Dubai Government-owned National Bonds have been at the forefront of such initiatives, recently partnering with the Arab Women Authority for a program to empower women with financial skills and tools. Evidence indicates that closing the financial-literacy gaps between men and women could have macroeconomic implications for a nation. The impact corresponds to the timeless quote, “if you empower a woman, you empower a nation.”

The following are the five probable positive outcomes.

1. SAVINGS FOR A RAINY DAY

A rise in online self-learning platforms and educational videos related to finance can be linked to that spike in interest and intent. Women have expanded their financial horizons, venturing beyond household accounts. Their primary objective is to build a corpus fund — a considerable amount of money kept aside for unforeseen emergencies — whose necessity continues to mount due to concerns of a recession.

2. DECOUPLING FROM DEPENDENCIES

A study found that, on average, women in the UAE retire with just 69% of the

wealth of their male counterparts. Such abject disparities in wages can be addressed only through structural changes in the corporate culture. With higher financial literacy, women can effectively plan their retirement by achieving risk-adjusted returns through strategic allocations of specific capital into savings, fixedincome products, equities, and insurance.

3. INCULCATING FINANCIAL DISCIPLINE

A few cross-sectional surveys seeking to demystify parental roles in money habits have found that children mostly take after their mothers’ approaches to finance. Such findings place a great onus on women to enhance their financial literacy. When financial discipline is inculcated early on, the strong foundations will go a long way in defining children’s monetary decision-making and related success.

Besides money, women’s financial literacy sets good precedents for children to uphold the virtues of gender equality and the importance of patience and pragmatism in investments. No amount of money can parallel a legacy of financial discipline that mothers can bestow on their progeny.

4. DODGING CURVEBALLS

While there is no denying that women’s societal challenges have witnessed considerable legal recourse in recent years, it’s a long road before one can afford to be complacent. As often as not, women cannot break free from abusive marriages or families due to financial dependencies. In hindsight, about 59% of widows and divorcees said they wish they had been more involved in long-term financial decisions.

5. MARKET PARTICIPATION

Wealth creation stagnates when money is restricted to low-risk products such as savings accounts, fixed deposits, bullion, and provident funds. Statistics suggest that women tend to favour such asset classes due to a deep-seated aversion to risk — a by-product of less financial literacy. Some studies also suggest that when women participate in equity markets, they often edge out their male peers. The reasoning is that women are innately more pragmatic and grounded, which, when coupled with high financial literacy, create successful investors. So, by supporting women’s financial education, UAE policymakers are hoping to unlock an untapped segment in the financial market. It’s a righteous pursuit primed for longterm rewards.

Akshay Sardana VP - Strategy & International Development, The Continental Group

GEIDEA WELCOMES HIS HIGHNESS SHEIKH MAKTOUM BIN

MOHAMMED

BIN RASHID AL MAKTOUM TO ITS BOOTH

Geidea, one of the largest FinTech companies in the region and this year’s Dubai FinTech Summit’s Presenting Sponsor, had the honour of briefly showcasing its cutting-edge financial solutions to His Highness Sheikh Maktoum who was welcomed by CEO Renier Lemmens and board member Nabil Ismail at their booth.

Geidea, which has 75 percent market share of the FinTech payment service sector in Saudi, provides more than 700,000 terminals in the region. During the summit, the company will showcase products, including a newly launched point of sale (PoS).

“We are delighted to have the support of one of the Middle East’s leading financial services companies,” said Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive.

Sailesh Malhotra, General Manager (GCC), Geidea, said:

“We are thrilled to announce our participation in the Dubai FinTech Summit. This premier event presents us with a unique opportunity to connect with likeminded industry leaders, exchange innovative ideas and collaborate

to establish a more robust fintech community in the region. We are eager to leverage this platform to expand our knowledge, share insights with our peers and elevate our impact on the FinTech industry in the Middle East and beyond.”

11TH ANNUAL FINANCIAL CRIME SUMMIT 2023 HELD TO REVOLUTIONIZE MONEY FOREIGN EXCHANGE

How do you identify a suspicious financial transaction? The 11TH Annual Financial Crime Summit 2023 just got concluded on the 18th of May. It was in line with UAE leadership’s endeavors to revolutionize money exchanges and the remittance ecosystem of the country. This summit was held by Foreign Exchange and Remittance Group [FERG]. The platform gave critical information to the audiences related to financial crime prevention, and different pain points that money exchanges deal with in their daily operations. The panel discussion also revolved around analytical models that help money exchanges reduce red flags within their organizational structure.

The summit discussed regulatory scrutiny, budgeting challenges, and the overall business of exchange houses in general. Further interesting panel discussions were held about the pillars of compliance

and regulatory framework in the UAE. Compliance continues to be a very complex and ongoing process which is why it needs immense discussion and understanding within the financial sector of the country. Understanding good practices and bad practices from the money service industry helps new businesses take the much-required step to reduce the cost of compliance as well. The best consulting experts from this sector gave away the much-required knowledge to everyone who attended the summit in a very lucid manner on how to understand the current system of financial compliance and how the future of compliance and regulation is shaped in the present global arena. Mr. Srijith KN, the editor, participated in the event and actively posed a question concerning the burgeoning significance of crypto exchanges in the nation's financial sector.

RAS AL KHAIMAH, A NATURE-CENTRIC GEM IN THE MIDDLE EAST, HIGHLIGHTS TOURISM INDUSTRY AT ATM

What strategies are being implemented to attract leisure travelers to Ras Al Khaimah?

We are pleased to report that our visitor numbers in the past year have surpassed pre-pandemic levels, reaching a record of 1.13 million. The growth momentum has continued into the first quarter of this year, with a 13% increase in visitor numbers.

Our strategy is focused on balanced tourism, meaning that we not only aim to drive visitor numbers but also pay attention to the development of our tourism community. It is crucial for us to ensure that the destination's infrastructure, supply chain, and livability are well-established alongside the growth of visitors.

The Middle East is renowned for its tourism and hospitality industry so what sets Ras Al Khaimah apart from other regions?

Tourism plays a significant role in the UAE, contributing to 12% of the GDP. In Ras Al Khaimah, tourism accounts for 5% of the GDP, and we aspire for it to grow to one-third. Ras Al Khaimah identifies itself as the Northern Emirate. We take pride in our remarkable diversity, encompassing mountains, deserts, and the sea.

Unlike other emirates, Ras Al Khaimah offers a less congested experience, with abundant natural areas and 64 kilometers of pristine beaches. We boast the highest mountain peak in the UAE, Jebel Jais. What truly sets us apart is the combination of a nature-centric experience with renowned hotel brands such as Emaar, Accor, Marriott, and Hilton.

What steps or initiatives is Ras Al Khaimah taking to become a sustainable destination in the region? We have recently launched a program called Responsible RAK,

which includes the participation of approximately 20 hotels and attractions. While our partner hotels already have excellent sustainability practices in place, we wanted to scale it up. To accomplish this, we have collaborated with EarthCheck, a leading advisory firm specializing in sustainable destinations.

As part of Responsible RAK, all the participating hotels provide data against 10 performance metrics, covering various aspects such as energy consumption, greenhouse gas emissions, waste diversion from landfills, and social factors like gender parity in the workplace. It is not a race to be the fastest, but a collective effort to reach our destination.

What initiatives have been undertaken to enhance tourism and attract more investments?

Ras Al Khaimah presents significant growth potential and opportunities. Last year, we announced the upcoming Wynn Resort on Marjan

Island, an integrated resort with impressive credentials as a luxury operator. With 1,500 rooms, 24 restaurants, and various entertainment concepts, the Wynn Al Marjan Island will significantly enhance our destination's allure. We are focused on expanding our range of attractions and enhancing the development of our mountains. We have recently created 65 kilometers of hiking trails, making us the destination with the most developed hiking trails in the country. Ras Al Khaimah is known for its collaboration with neighboring Emirates to promote the country. We benefit from having our own airport and thanks to the proximity of other airports, including Dubai, Abu Dhabi and Sharjah International Airport. We recently announced a partnership with Qatar Airways, set to commence charter flights in November, adding to the excitement and activities happening in Ras Al Khaimah.

The Integrator had an exclusive interview with Alka Winter, Vice President of Destination Marketing and Communication for Ras Al Khaimah Tourism Development Authority.

AMSA HOSPITALITY

AMSA HOSPITALITY AND ACCOR JOIN FORCES TO REDEFINE SAUDI ARABIA'S HOSPITALITY LANDSCAPE

Arabian Hospitality, we ponder upon the dominance of Westernized hotel chains in the region. Most renowned chains follow a Western model, but we challenge that norm. We believe in standing apart and saying, "No, we want to be different."

What kind of initiatives are you currently working on to showcase Arab culture?

How does AMSA Hospitality differentiate itself in the industry and what is its core principle?

AMSA Hospitality is not just an ordinary company; it stands out with its unique approach of Arabian hospitality. It's not only décor elements and Arabized uniforms, it's a new hospitality concept. We were able to come up with such an out of the box forward thinking - imagine bringing centuries old Arabian traditions of welcoming and generosity to 21st century expectations. We consider ourselves a citizen company, which encompasses caring for the environment, people, and setting an example. When we hire someone, it's not just based on their skills, but also their concern for their colleagues and environment. We also extend our care to suppliers and various other stakeholders. We are implementing a fair-trade system to ensure ethical sourcing, free from child labor and unethical practices.

What kind of opportunities do you see in Saudi Arabia that led you to this startup?

Saudi Arabia is becoming a prime destination. It's a market with endless needs, and we can only try our best to meet them all. During the 2023 edition of the Arabian Travel Market in Dubai, we signed a global agreement with Accor to establish 18 hotels in the Kingdom’s secondary cities. This aligns with Saudi Arabia's Project 2030, a government initiative to develop not only the major cities but also the secondary cities.

How does the Arabian hospitality industry differ from other parts of the world?

Western countries already have Western hospitality ingrained in their culture, so they don't need to promote it actively. However, Arabian hospitality has its distinct identity. We proudly claim our Arab heritage and possess our unique way of thinking. When we delve into the concept of

When you visit Saudi Arabia, one of the notable observations is that Saudi nationals are not yet the majority of the employees in hotels, particularly in areas such as restaurants and housekeeping. To address this issue, we have taken the initiative to maximize the Saudization of our hotels. In the ongoing project with Accor, our goal is to have our hotels staffed by 80-90% Saudi nationals. We are not merely pretending; we are genuinely committed to Saudization.

What are your upcoming plans for AMSA Hospitality?

We have ambitious plans, although I cannot disclose them at this moment. Currently, our primary focus is on the development of secondary cities. The project entails the establishment of 18 hotels. We also aim to develop more hotels in major cities, where we keep our unique approach in terms of people management, Saudization and care. In cities like Riyadh and Jeddah, you either find local hotels with lower quality or international brands dominating the market. We want to differentiate ourselves by offering an authentic experience. Therefore, our project includes developments in Jeddah, Riyadh, and anywhere else where we see an opportunity.

The Integrator had an exclusive interview with Denis Sorin, President of Hospitality, AMSA Hospitality.

Denis Sorin President of Hospitality, AMSA Hospitality