Tech Trends - Digital transformation in BFSI

  • As the Middle East customer expectations evolve, CX and digital systems need to be ready to deliver instant expectations, zero physical currency, and operate under high pressure.

BPM is important when BFSIs are digitizing in the Middle East. There is still a lot of paper around, process re-engineering needs to happen effectively and processes must be automated. Decisions must be made on how many fields do we really need to capture adequate information from customer - 20 or 80?
BPM is important when BFSIs are digitizing in the Middle East.

The top tech trends in BFSI to watch out for are:


  1. Data Analytics is a top priority for CX leaders.

  2. Chatbots will become increasingly popular, if we take the example of EU where the BFSI contact centers are awfully quiet – no one phones and the App usage and Bot usage is very high. It’s a matter of time we will see this replicated in the Middle East.

  3. BPM is important when BFSIs are digitizing in the Middle East. There is still a lot of paper around, process re-engineering needs to happen effectively and processes must be automated. Decisions must be made on how many fields do we really need to capture adequate information from customer - 20 or 80?

You can’t have fascinating conversations of what you can do with CX if you do not have the right data, process and base to grow on. Thus, BPM needs to mature heavily in the region.

- Ewan Macleod, CTO, Sohar International


How do you design UX for all? Progressing from UI/UX to CX and SX


Often organizations are design UX with all fences up, BFSIs need to learn to accommodate regulatory requirements without punishing the good customers.


In the Middle East there is a cultural need of seeing a human being when doing business with a. BFSI. Thus, it is hard to digitize the process and force the customer to just use the app.


So how do you excel in customer and service design by leveraging UX / UI?


  • Story creation and educating the customer is key. In the NPS surveys you hardly get responses “I need a bot”. Proving options, and detailing benefits prior to implementation goes a long way.

  • CX and DX hygiene is important. CX is about opening the door to facilitate the service for the customers.

  • Advocating regulatory compliance is important. Running UX in an environment where the customers prefer human interaction is very tough. Thus, you have to ensure you articulate clearly the regulatory approvals, ease of technology use and system security to gain adoption and trust.

  • Giving choice to the customer is also important. Customers are from different generations and have different contact preferences. Older customers have hesitancy in moving to e-statements or downloading the App.


You will always have customers who would like to pay their bills in the branch though there could different ways to pay them digitally.

- Guilherme Rodrigues, AVP Customer Experience and Design Lead @ Payit, FAB


The role of compliance in migrating CX successfully


Compliance plays a big role in BFSI operations. Thus, easing the job of compliance is the responsibility of people who design CX within BFSIs. A lot of CX leaders only look at CX from a customer level. They do not look at it from the business risk level, compliance level and risk appetite level.


When evaluating UI UX, compliance must be consulted and regulatory requirements factored in.


The demographics of the Middle East are varied with ex-pats from 200+ different countries residing. Their desires, appetites, behaviors, and expectations with UI UX are very different and needs to be evaluated alongwith the regulatory requirement.

- Dr. .Joseph George, CIO, National Bank of Fujairah


Next: VOC in product development. Read on.