Financial industry experts discuss future of fintech at Sharjah Investment Forum 2023

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Financial innovation and technology trends in the global financial services sector were in the spotlight during a panel session at the sixth edition of the Sharjah Investment Forum (SIF).

Moderated by Goncalo Traquina, Head of Management Consulting in Financial Services, KPMG, panellists Eric Yang, CEO of MaskEX, Mirna Selman, Founder and CEO of Fintech Galaxy, and Navin Gupta, Managing Director of MENA and South Asia at Ripple, shared their insights at a session titled ‘The Future of Fintech.’

Eric Yang acknowledged the impact of fintech on the traditional banking system, citing its use of advanced technology to deliver more efficient service and meet customer demands. He emphasised the advantages of fintech, such as mobility, accessibility, and convenience, as the reason for its growing popularity and continued relevance.

Mirna Selman stressed the importance of customer satisfaction, and how fintech companies cater to this with their fast, convenient, and multi-channel services. She also shared her thoughts on how fintech also reaches populations who may not have access to traditional banking.

Navin Gupta stressed the need for cooperation between banks and fintech services. Despite fintech’s threat to traditional banking with its modern technology and personalised products, Gupta stressed that banking institutions still play a crucial role.

The SIF panellists also stressed that fintech and traditional financial institutions are intertwined and depend on each other, with banks providing essential services to fintech and fintech helping banks adapt to changing technology trends, including attracting new customers and offering personalised products and services.