The Key Enablers of Future Banking

DIGITAL GOVERNANCE AND SUSTAINABLE DEVELOPMENT ARE THE KEY ENABLERS OF FUTURE BANKING

Digital

The EMEA Finance Middle East Banking Awards 2017 Ceremony was held at Shangri – La Hotel, Dubai on 28th Feb 2018 which witnessed active participation from leading financial service groups. Dr. R. Seetharaman, CEO of Doha Bank won the “CEO of the year” for bringing transformational leadership in Doha Bank with focus on technology and sustainable development. On receiving the award Dr. R. Seetharaman highlighted the role of CEO in the new millennium. He said “The key areas which require attention include realignment of business model in accordance with structural changes in environment, building strong corporate image, sustaining growth, Grooming people for Global environment, leveraging technology, Giving back to society and managing stakeholder expectations. Digital Governance and Sustainable development are the key enablers of future Banking.”

Doha BankDr. R. Seetharaman gave insight on the future trends impacting digital space and the challenges faced in digital economy. He said “TheFourth Industrial Revolution combines advanced technologies in innovative ways, dramatically reshaping the way people live, work and relate to one another. Various industries are getting redefined, the health sector can be reimagined, the work space is undergoing changes, robotics and artificial intelligence are going to play important roles and the customer will be more empowered in the digital environment. Fintech, internet of things, block chain and artificial intelligence are some of the major technological developments.  Robotics, enabled by artificial intelligence and machine learning, is proving to be a game changer that can bring unique operational efficiencies to the financial services industry.  Accelerating digital ecosystem development could lead to cashless economies. Banks and the financial regulators should address the trade-off between convenience and security when it comes to digital banking. From compliance perspective banks and the regulators have to deal with questions arising from digital banking. To protect customers, thwart organised criminals, and ensure financial stability, prudential and conduct regulators, and legislators, need to ensure that regulation is future-proofed for the digital age.”

Dr. R. Seetharaman highlighted the measures of Doha Bank on sustainable development. He saidDoha Bank advocates and practices Green Banking, which is one of the core business philosophies that would support the sustainability into the future. Doha Bank is also active in supporting the youth of the nation from a human development perspective and conducts numerous programmes to help develop indigenous talent. Doha Bank also supports social integration across various areas of society and actively participates in key economic events, keynote sessions, and other major local and global programmes. Doha Bank’s Eco school program is part of its Green Banking Mission. Doha Bank has embraced sustainable business practices to satisfy its customers and promote solid environmental stewardship. In doing so the Bank has embarked on a greener path in business and their personal lives. Financial sector could participate in sustainable development by taking initiatives to “Manage Climate Change and Mitigate Global Warming”.  Doha Bank has worked on “ECO-Schools Programme” which works with educational institutions to build awareness of key environmental issues and create action plans that are school-specific to help mitigate the overall impact on the environment. Doha Bank Group as part of its corporate social responsibility will demonstrate fair, open, efficient and consistent business practices to mitigate climate change and promote sustainable development. Doha Bank also believes in Sustainable Development Goals (SDGs) which into force from beginning of 2016 after adoption of the same at the United Nations Sustainable Development Summit in September 2015.”

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