26 - 28 November, 2019
| Gulf Hotel Bahrain, Manama, Bahrain
Conference Day Two: Wednesday, 27 November 2019
8:00 am - 8:45 am
Registration, coffee and networking
8:45 am - 8:50 am
IQPC welcome remarks
8:50 am - 9:00 am
Opening remarks from Chairman
What’s the impact on data security?
Bahrain’s latest open banking regulation mandates that financial institutions must open access to their customer information and payment networks to third-party providers. Financial institutions must provide this access through a secure and standardised set of APIs offering account information and payment initiation services to customers.
9:00 am - 9:30 am
Collaborating, innovating and integrating securely – Guiding FinTechs and TPPs to manage sensitive data
Partnerships and collaborations can be rewarding, but it can also tarnish the image and reputation of a bank if data isn’t managed securely. After all it is still the bank’s responsibility to ensure proper privacy and protection of it’s consumers.
Why is strong customer authentication so important?
- Applying multi-factor authentication using two or more customer attributes to ensure maximum security
- Scaling cybersecurity capabilities of financial institutions to accommodate the increased number and range of partnerships and protect and monitor their increased attack surface
- Developing in house privacy policies and checklists to verify processes, controls and cybersecurity strategies of various partners and stakeholders prior on boarding
Third Party Providers (TPPs) – Collaboration, Competition or Coopetition?
Open banking requires collaboration with partners and the ability to manage their access to APIs. To deliver the flexible, open banking experiences that consumers and businesses want and regulators encourage, the two ends of the financial spectrum – traditional bankers and TPPs must join hands.
9:30 am - 10:10 am
TECHNICAL PANEL DISCUSSION: Banking as a Service (BaaS) – Creating a system of value addition and seamless customer
Ahmed Naeemi -
Head of Digital Transformation, Operations & Project Management,
Bahrain Institute of Banking and Finance, Bahrain
The introduction of the latest open banking regulation by the Central Bank of Bahrain (CBB) is enabling the opportunity for banks and FinTechs to explore synergies as never before. Taking advantage of APIs to innovate, digitise and disrupt the market, they can enhance the customer experience, easily scale the product and lower costs which is much more than banks and FinTechs could do on their own.
Is this the new winning formula?
- Moving towards customer centricity over operational excellence by collaborating with FinTechs thus enhancing flexibility, speed and innovativeness
- Setting up a coopetition plan to accommodate the needs of both parties with respect to strategy, governance and operational responsibilities
- Developing a structured approach that chart the coopetition territory to leverage the cooperating partners’ strengths resulting in fruitful collaboration.
Ahmed Naeemi
Head of Digital Transformation, Operations & Project ManagementBahrain Institute of Banking and Finance, Bahrain
10:10 am - 10:40 am
Helping banking sector improve customer experience using WhatsApp
Mr. Kemal Keco -
Regional Manager, MENA,
Infobip
Berina Krupalija - Team Leader Sales, Infobip
Infobip’s enablement of WhatsApp Business allows enterprises in over 180 countries to communicate branded, rich content to its customers over WhatsApp, the chat app trusted and used by 1.6 billion people worldwide, and number one app used in MENA region.
• Learn how to improve CX in banking implementing new WhatsApp customer service channel (Success story Emirates NBD)
• Understand how to identify best use cases eventually leading to increased ROI and better customer offerings (Success story – Raiffesen Russia)
• Overcome the potential roadblocks that you may encounter when broadening the scope
Sponsored by: Infobip
Account Information Service Providers (AISP) and Payment Initiation Service Providers (PISP) – How has the recent open banking directive expanded their scope?
For banks, the latest open banking regulation poses substantial economical challenges along with an increase in IT costs, close to 9% of retail payments revenues are predicted to be lost to PISP services by 2020.
10:40 am - 11:10 am
The rise of AISPs and their right to X2SA (Access to Account) services
AISPs are intended to allow customers to have a 360 degree view of their payment account data. An AISP can consolidate reams of bank account statement data and deliver it to the customer in a single interface, making it perfect for treasurers of multi-banked organisations.
Is this the beginning of a new era?
- Digital transformation in lending – How are digital account checks overhauling tedious credit assessments for consumer loan applications?
- Deep diving into customer data using analytics and financial behaviour to customise and tailor banking products for enhanced customer experience
- Enabling better collection management and early detection and prevention of default payments through analytic tools and software
11:10 am - 11:40 am
Faster payments through PISPs from a single platform across multiple accounts
According to a survey conducted by Accenture, one in three debit card payments and one in ten credit card payments are expected to move to PISP by 2020.
Are PISPs set to take over payments from banks?
- Aggregating data from multiple accounts to make data available at a single location giving consumers a holistic view of their finances
- Carefully evaluating 3rd party PISPs, their strategies and constantly ensuring they are meeting with evolving regulations
- Develop an in house PISP service to capture an additional slice of the revenue and open up opportunities for customer loyalty schemes and cross selling
11:40 am - 12:00 pm
Networking refreshments break
Scaling up – Is your enterprise ready to capitalise on opportunity?
From technical back-end IT support to cultural considerations, all aspects of an organisation need to be aligned and compliant to make the most of open banking opportunities.
12:00 pm - 12:30 pm
Changing hats – How are banks evolving from data recipients to data providers?
How quickly can you adapt?
- Culture as a hindrance – Instilling an attitude of opportunity in the banking business to maximise open banking opportunities
- Understanding and evaluating the perceived risks and opportunities of open banking and it’s impact on the overall strategies and objectives especially with legacy banks
- Using open banking as a unique channel to interact and build loyal banking relationships with consumers
12:30 pm - 1:00 pm
The bank of the future - Core processes vs technologies
The current digital revolution is disrupting the way people bank, directed by evolving customer needs, behaviour and expectations. Consumers now expect an anytime, anywhere ultra-personalised user experience.
Is it time to unlearn?
- A major shift from offline to online banking and a growing consumer trust for digital-first platforms and consumers’ desire for personalisation and tailored product experiences
- Establishing digital self-serve platforms for queries and grievances resulting in reduced costs and enhanced customer experience
- Be a part of winning platforms – Collaborate with the right third party providers to stay ahead of the banking game thus improving experience, loyalty and stickiness
