Tech Allies To Power CX For The BFSI Brands
Several banks and fintech solution providers are joining forces to introduce hassle-free digital banking solutions - from delivering advanced payment services to ensuring smooth customer onboarding. Check out our top picks.
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The BFSI industry has adopted several digital innovations to enhance customer experience over the past few years.
For instance, banks in the Middle East are partnering with various fintech solution providers to deliver hassle-free experiences. Some are incorporating AI-powered chatbots for personalised banking journeys, while others are adopting banking-as-a-service(BaaS) integrations to offer seamless customer onboarding
Delving into the consortium of these fintech advancements, we picked the top 20 BFSI technology solution partners that can help banks drive ultimate CX.
Top 20 Global BFSI Tech Partners That Are Enhancing CX
One of the driving forces behind building exceptional digital banking facilities is Accenture. This generative AI-powered and hyper-automated IT platform enables banks to incorporate next-generation emerging technologies and deliver tailored services to their customers. For example, the Commercial Bank of Dubai leveraged Accenture’s technology stack to deliver Gen-AI-powered personalised experiences to their customers.
CX Solution: End-to-end core banking solutions, including credit operations, personalised banking, etc.
Empowering banks to modernise their customer engagement orchestration architecture for streamlined customer journeys, BackBase is a composable engagement banking platform. This platform integrated Valleysoft’s banking services to reshape the digital banking ecosystem in the Middle Eastern and African regions, ensuring unparalleled experiences.
CX Solution: Digital onboarding, investment, and lending along with self-service investment (Engagement banking platform)
Bankable is a banking-as-a-service(BaaS) provider, having one of its offices in the Dubai International Financial Centre. It recently partnered with Valleysoft, enabling banks in the region to fully immerse in engagement banking. As a consequence, it will help its global banking partners to offer intuitive and instant services for improved client-centricity.
CX Solution: Banking-as-a-service(BaaS) platform, payment card programs, virtual ledger manager
A Gen-AI-powered banking solution provider and one of the participants in the Middle East Banking Innovation Summit, Dataiku is exceptional in its BFSI tech stack. In this ever-changing banking ecosystem where customers’ financial preferences shift rapidly, Dataiku brings an analytics and AI-powered approach to its banking technology. Its pre-built projects and ready-to-use templates accelerate the delivery of AI roadmap to any banking system while fitting in well in today’s regulatory environment.
CX Solution: Gen-AI-powered banking capabilities
By offering AI-driven fintech solutions, Data.ai is helping global banks leverage them into their existing technology stack. To name a few, DBS Bank, Jibun Bank are utilising Data.ai’s offerings to deliver personalised experiences to their customers. Its AI-focused solutions help banks understand user sentiments at scale, further giving them tailored assistance.
CX Solution: AI-driven personalised experiences and product offering
Chosen by the Guarantee Trust Bank in 2023 for its multi-country digital transformation program, Infosys’ Finacle Digital Banking Suite is a one-package solution for banks. Finacle partners with emerging and established financial institutions, helping them gain a competitive edge to deliver state-of-the-art banking facilities. Currently, banks in over 100 countries rely on Finacle to help more than a billion people and millions of businesses to save, pay, borrow, and invest better.
CX Solution: Digital Engagement Suite
Hitting the headlines for integrating augmented digital banking solutions into Qatar National Bank’s technology stack, IBM is worth considering as a BFSI tech vendor. Its futuristic omnichannel solutions help banks offer customers seamless digital banking experiences, from onboarding to personalised AI-enabled chatbot responses for solving immediate problems.
CX Solution: Conversational AI capabilities for a personalised experience
Yet another trendsetter in the banking and finance industry, iGCB is already powering over 2O MEA banks to enhance their digital banking offerings. For instance, AFC Commercial Bank selected iGCB’s Intellect Digital Core (IDC) to modernise its banking operations. This partnership is helping the bank to deliver an omnichannel customer experience with intuitive UI/UX and contextual solutions.
CX Solution: Cloud-native, Microservices-based composable embedded banking solution.
Immensely popular for its partnership with Arab Financial Services (AFS), a digital payment solutions provider, Kiya.ai is winning the trust of Middle Eastern banks. The company’s expertise in new-age banking technologies, such as core digital banking, electronic customer onboarding, and trade finance solutions sets it apart from other players.
CX Solution: AI-driven Shariah-compliant digital banking integrations, Landing Management, Payment Integrations, etc.
Also Read This Exclusive Interview: Open Banking To Play A Significant Role In The Fintech Landscape
All set to expand its horizon by establishing its office in Dubai by 2024, Meiro.io is a robust banking CDP, empowering banks to enhance their omnichannel campaign management solutions. Tried and trusted by global BFSI brands, Meiro enables the delivery of personalised CX, whilst ensuring data compliance and sovereignty requirements.
CX Solution: Personalised customer engagement and solutions
Recognised with the “Most Innovative Use of Process Automation” award at the IBSi Global Fintech Innovation Summit 2023, Nucleus Software offers AI-powered banking solutions. It brings seamless app integration facilities for its banking partners, further enabling them to respond immediately to customers’ queries via its AI-based recommendations.
CX Solution: AI-powered personalised banking bot
Holding a technical expertise in facilitating and streamlining Sharia-compliant banking operations with comprehensive product and operational capabilities, Oracle Flexcube proves to be a perfect technology partner for Arabian banks. Additionally, it offers FLEXCUBE Universal Banking and Oracle Banking Payments solutions, helping global banks enhance customer experience.
CX Solution: FLEXCUBE Universal Banking, Oracle Banking Payments solutions
Temenos is a global SaaS provider that has served a lot of Middle Eastern and African banks to incorporate BaaS solutions in their existing systems. For instance, Africa and Gulf Bank(AGB) utilises Temenos platform-enabled core banking capabilities to offer innovative products to their retail and corporate customers. Lesha Bank also migrated to Temenos’ core banking platform to enhance its wealth management and investment banking services to aid customer experience.
CX Solution: Scalable BaaS solutions, Personalisation (wealth management, investment banking services, retail banking, etc.)
QuestionPro is a software management solution provider that seized the attention of the banking sector for establishing its data centre in Saudi Arabia. This move has enabled all its partner banks and financial institutions to abide by the highest standards of SAMA compliance, further enhancing end-user experience. Besides that, QuestionPro offers secure QR code integrations and customer engagement solutions to elevate the user journey.
CX Solution: QR code facilitation, customer engagement
Core banking technology provider, Thought Machine is powering the digital banking capabilities of several banks in the Middle East Region. For instance, Jordan Ahli Bank integrated its Vault Core cloud-native core banking solution to launch a payments app Qawn. Thought Machine’s Universal Product Engine enabled Jordan Ahli Bank to customise tools based on its customers’ needs. As a result, the bank creates a social financial experience, addressing real-life problems with cutting-edge technology.
CX Solution: Scalable core banking platform
Special mention: ME tech vendors in the race
Immensely popular for its recent partnership with UAE-based Al Maryah Community Bank (Mbank), Dgpays.com is helping banks in the region with its digital wallet offerings. Catering to the diverse financial technology needs of its customers, Dgpays.com is revolutionising the banking sector with its end-to-end payment solutions.
CX Solution: nd-to-end payment system
Evam offers a comprehensive package of financial solutions that are essential for the industry’s digital transformation. Its data-driven insights are helping its partnered financial institutions and banks streamline their customer journey cycle with a touch of personalisation. Some of its services include customer-centric operations like real-time churn path discovery, seamless onboarding, fraudulent detection, etc.
CX Solution: Personalised customer engagement chatbots, customer onboarding, etc.
NymCard is a cloud-based issuer processor, further enabling financial institutions to build virtual and plastic card programs for their customers. This UAE-based BaaS provider offers a state-of-the-art payment issuing and processing platform to banks and fintech startups for creating, controlling and distributing their virtual cards via its managed API platform. Nymcard’s overall mission is to simplify financial app integrations, further enhancing customer journeys for payment innovators.
CX Solution: Banking-as-a-service(BaaS)
Headquartered in Cairo, Egypt, Paymob offers innovative APIs and solutions to accept and send online payments across the Middle East and Africa. Its recent integration with the Oman Central bank’s payment infrastructure enabled Oman-based merchants to accept local and cross-border payments, further eliminating the need for multiple gateway integrations.
CX Solution: Cross-border payment facilitation
Founded by Abdulaziz F Aljouf, PayTabs group is a revolutionary online payment solution provider to assist B2B ecommerce merchants in the MENA region. Its turnkey platform, PayTabs SwitchOn, offers real-time and integrated end-to-end payment solutions worldwide. Some other solutions of this fintech platform are real-time onboarding, merchant dashboards, and much more.
CX Solution: Seamless payment facilities
For more insights, join the industry leaders at the CX NXT – Customer Experience BFSI Summit in Dubai on February 27. For more details and registration visit CX NXT – Dubai Summit.
