UAE Banks Federation Highlights Leadership In Financial And Banking Innovation At MEA Summit

The UAE Banks Federation (UBF) is committed to advancing its member banks' efforts in developing frameworks under the Central Bank of the UAE's supervision. This aims to optimise advanced technologies in banking, ensuring the UAE remains a leader in financial innovation. The focus is on providing an advanced, seamless, and secure customer experience.

During the MEA Finance Banking Technology Summit and Awards 2025 in Dubai, over 500 experts, bank CEOs, and fintech leaders discussed opportunities and challenges. They explored ways to enhance integration between banks and fintech companies. The event highlighted the sector's eagerness to accelerate digital transformation to meet customer needs and support the UAE's socio-economic growth.

Jamal Saleh, Director-General of UBF, emphasised the sector's role in employing advanced technologies. He stated, "With unprecedented technological advances influencing various aspects of life, the financial and banking sector is cementing its leading role in employing advanced technologies to provide banking services that meet customer requirements and contribute to driving economic growth and diversification efforts in the UAE, under the supervision and guidance of the Central Bank of the UAE."

The UAE banking sector has reaffirmed its leadership regionally and globally through initiatives that drive innovation. These initiatives align with the UAE government's digital strategy aimed at doubling the digital economy's contribution to GDP while safeguarding digital infrastructure and cybersecurity.

Saleh highlighted that supportive legislation from the Central Bank has created an ecosystem conducive to innovation. He noted that this environment allows financial institutions, technology firms, and investors to innovate confidently while managing risks effectively. UBF supports member banks in modernising technology infrastructure and developing digital channels.

He further explained that integrating advanced technologies with financial services is crucial for ongoing development. "The integration of advanced technologies and financial and banking services is essential for the continued development of the banking industry and the provision of services that meet the requirements of the digital age," he said.

Investment in Digital Infrastructure

Saleh called for sustained investments in digital infrastructure alongside appropriate cybersecurity frameworks. He stressed developing human capital, particularly Emiratis, increasing awareness about digital services, cybersecurity, anti-fraud measures, and sustainable financing aligned with environmental standards.

The summit sessions delved into how technology can enhance banking services while ensuring system security within regulatory frameworks. Discussions also covered improving customer service by using data analytics to tailor services according to diverse customer needs.

Awards Recognising Excellence

The MEA Finance Banking Technology Awards 2025 celebrated notable achievements by banks and tech firms delivering smarter solutions. These awards recognised their role in promoting digital transformation through effective systems meeting customers' demands in today's digital landscape.

The UAE's experience with open finance initiatives was noted as a means to boost financial inclusion. This supports small businesses' growth by providing tailored solutions that cater to entrepreneurs' needs.

With inputs from WAM