Zain Kuwait recently hosted an insightful talk with Gartner, the global research and consulting firm, to discuss the future of open banking and the role of technology and digital transformation applications in developing the banking sector. During the session, Zain executives explored the company’s most recent efforts in empowering banks and financial institutions to embrace digitalization in order to keep up with the accelerating changes in today’s markets. The session was held at the Zain Innovation Campus (ZINC) in the company’s headquarters in Shuwaikh and was attended by Zain Kuwait CEO, Eaman Al Roudhan and the company’s executive team.
The talk was joined by Zain Group’s Chief Investment and Digital Transformation Officer, Malek Hammoud and Gartner VP Analyst, Vittorio D’Orazio and was also attended by many Kuwaiti entrepreneurs and startup owners whom Zain invited exclusively to the event. The session covered a number of strategic topics related to the future of banking, such as banking-as-a-service, open banking, the recent accelerating growth of digital banks, and the role played by new technologies in developing the banking sector.
Technologies such as 5G, managed cloud services, cloud computing, datacenters, digital applications, and more are offered by Zain to empower financial institutions and startups to keep up with the huge changes in local and regional markets. The Kuwaiti entrepreneurs and owners of e-commerce and Fintech startups that attended the session benefitted from the event’s rich content and close-up insights. Among the attendees were alumni of the award-winning Zain Great Idea (ZGI) tech startup accelerator program, one of Zain’s most successful initiatives to support entrepreneurship and innovation in Kuwait and the region.
The occasion also witnessed discussions around the latest projects and strategic plans of Zain Ventures, Zain Group’s investments arm that aims to complement its existing investment portfolio and open the door to future investment opportunities in the venture capital, Fintech, and tech world, with a focus on digital innovations in the fast-growing electronic services and startups ecosystem. Zain recognizes the importance of data technologies in driving digital transformation in the banking sector, and it has partnered with renowned global providers in cloud computing, datacenter solutions, and IT services to bring the best-in-class solutions to its business customers.
Today, Zain hosts a number of major local banks in its globally certified datacenter. Investing in the world of venture capital provides Zain with a vast range of opportunities to diversify and expand its reach in the surrounding ecosystem. Over the years, Zain has expanded its relationship with regional and international venture capital funds to support the respective portfolio companies whenever appropriate. Zain Group has also continued its active engagement in direct strategic investments in a variety of promising startups from the region, offering them support on multiple fronts, including a wide geographical reach and progressive customer base for expansion opportunities.
Recently, the Kuwaiti market witnessed an accelerated wave of digital transformation within private sector companies, SMEs and startups, and government institutions. However, at the same time, many new challenges surfaced along with this wave, emphasizing the importance of preserving data and protecting the digital infrastructures of companies from security breaches. To overcome such security challenges, Zain has proactively undertaken the responsibility to offer an all-inclusive and integrated portfolio of cloud services and digital solutions built on the latest world-class technologies and cybersecurity solutions.
Source: https://www.kuwaittimes.com/zain-kuwait-hosts-insightful-talk-with-gartner-at-innovation-campus/