Beirut: – Efma’s Annual Retail Banking Summit in Lebanon concluded today on a successful note. The one-day summit brought together senior banking executives and professionals from the financial sector, coming from different geographies, mainly Europe and the Middle East region, to address key issues and challenges facing the industry.
More than 30 financial institutions from Lebanon and the region participated in the event, with representatives from, Banque du Liban, Blom Bank, Bank Audi, Byblos Bank, Fransabank, Credit Bank, LGB Bank, BLF and Bank of Beirut.
The discussions focused mainly on the challenging environment that the new breed of tech savvy customers possess in the payments ecosystem & an increasing need to adopt new technologies at a higher pace. Speakers from the Middle East and Europe discussed the huge potential banks have in partnering with new players and fintechs which will help greatly in successfully adopting a hybrid model, redesigning their distribution networks, equipping them with new technologies in order to bridge gaps and win digital customers and offer them a seamless self-service digital experience in branches.
As Fahim uz Zaman, General Manager Middle East - Efma quotes: “Disruptive influence of new technologies is compelling banks to change their businesses to become digital to the core and change their mindset from board to front line staff in order to remain relevant and stay in the game. In the fifth edition of Efma’s Retail Banking Summit in Lebanon there were discussions on Open Banking, customer experience, cyber security, using AI and bots, data integration, transforming payment landscape, new entrants in the ecosystem and much more.
Efma’s ambition is to contribute our vast global connections to help promote borderless opportunities in the retail banking sector. This year we have built an international platform, with thought leaders from successful economies around the world and this has provided an exceptional forum toexchange ideas on both traditional retail banking as well as on the latest developments in the sector. This summit was the fifth in our series of events in this region and the response from the financial sector has been instrumental in its success.”
Syed Marahim Danial
+33 1 47 42 67 69
A global non-profit organisation, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma also has offices in London, Brussels, Barcelona, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing, Tokyo and Singapore.
© Press Release 2019