Channels banking forum in Dubai to probe industry's surging electronic role

"The overall theme concerning IT in banking for 2004 is clearly optimism", says Cordelia Henry, conference director for IIR, the organiser of Channels, the global banking strategy summit in Dubai next month. "It is a defining time for the industry and that makes next month's Channels even more significant."

Experts say this is simply part of a global trend which is as pivotal to the industry in the Middle East as it is anywhere. Technology in banking will be under the spotlight at Channels, the global banking strategy summit to be held in Dubai. Experts will delve into everything from risk mitigation to customer retention and operational efficiency.

"You can't do effective cost-cutting or effective customer relationship management or risk management unless you have a systems management that is well integrated," Lee Kidder, director wholesale banking at Wells Fargo, said after the institution invested in a major upgrade of its online applications for corporate banking customers in an effort to make Web-based services easier to use.

Consultants at TowerGroup, the highly-regarded research operation, see technology playing a huge role in the industry. For example, TowerGroup says 2004 will be the year "brokers will abandon what's left on the human side of trading and go exclusively electronic." TowerGroup experts will be speaking at Channels.

TowerGroup also predicts a six per cent rise in 2004 by US wholesale banks in overall technology investments compared with last year.

Channels will be held April 25-28. As well as technology, the event covers globalisation, profitability. Experts are flying in from Europe,
Asia, Far East, Australia and South Africa. Channels also includes an exhibition catering for the top level of the financial services industry.

Mortgage lenders are always on the lookout for the next big thing in technology that will provide them with a competitive edge in acquiring customers at lower costs.

Many mortgage lenders now have technologically mature loan origination systems and related subsystems, and are focusing on integrating
the technology gaps to create a true end-to-end lending process.

In the Middle East real estate in on the rise and more banks are looking to increase revenue streams from this sector of the market by way of introducing mortage related products, a prime example being Mashreq.

Highly respected figures in the Middle East banking industry are full or praise for Channels.

Khalid Al-Alkami, E-business Division Manager, Banque Saudi Fransi, Saudi Arabia, echoed thoughts of many when he said: "This is one of the most content-rich events I have come across," he said.

More than 55 experts of international standing in the global financial sector will take the stage at the Channels strategy forum over the four days as either speakers or panelists.

Venue for the forum and exhibition is the Holiday Inn Crowne Plaza on Sheikh Zayed Rd. The exhibition was sold out months ago.