MEFX to bring financial technology to the forefront

This inaugural event will be held at the Dubai International Convention and Exhibition Centre from the 15 - 17 April 2008 as an extension of Dubai World Trade Centre's (DWTC) world renowned Gitex Technology Week.

With the financial and banking sector in the Middle East rapidly expanding, the need for world-class technology solutions in the region has never been stronger. DWTC aims for the first time to bring the world's leading suppliers to the banking and finance industry to Dubai to showcase their innovative range of financial technology services and products.

Banks currently represent the largest single vertical in total IT investment, with total spending on IT by Middle East banks estimated at $1.4bn. With internet and mobile banking so prevalent in modern banking methods, security is a major focus. This is reflected by IT security spend in the GCC, which grew by 38% to reach $153.2m in 2006.

With this in mind, technology giants are using MEFX as a platform to showcase their products and solutions to a targeted audience comprising of the regions top banking and finance professionals. "Technological developments play a crucial role in the banking and financial industry" said Mr. Helal Al Marri, Director General of Dubai World Trade Centre.

"Innovative measures such as anti-fraud solutions and mobile banking are revolutionising the industry and complimenting traditional branch banking methods. Having a focused platform like MEFX where finance professionals can explore the latest innovations and developments will play an important role in the industry's progress and development,"

he added.

MEFX will feature technology suppliers to the banking sector showcasing the latest developments in the industry including mobile banking, straight through processing (STP), anti-phishing, check 21 software solutions, core banking, channel renewal, CRM solutions, automatic teller machines and multi channel integration. As an all encompassing banking and finance trade event, exhibitors will also include banks and financial institutions, consultants, data providers, ratings agencies, recruitment agencies, training companies and other suppliers to the industry.

Combining with the exhibition will be the MEFX Summit, an industry specific professional development experience featuring international and regional experts. Aimed at senior management professionals, the MEFX Summit will address topics that tackle the core issues of today's financial services sector. A key feature of the MEFX Summit will be the growing Islamic finance market, which is currently experiencing a phenomenal 20% annual growth rate.

In order to ensure that MEFX participants have the opportunity to mix business with pleasure, DWTC has organised networking events aimed at fostering greater relationships amongst the financial community. These include a golf tournament, cocktail function and a gala awards dinner to celebrate the achievements of the industry.