New technologies in the financial world attracts strong interest in Dubai

11.09.2018

Due to the great interest in our event in May this year on the topic "new technologies such as artificial intelligence, machine learning and deep learning in the credit business", the 2nd edition was held last week. The focus was on the regulatory changes surrounding IFRS 9, IFRS 16 and Basel II +III. Attendees from roughly several UAE-banks took the opportunity to obtain more information about FERNBACH's products and became involved in lively discussions.

Significant changes in the framework conditions of financial institutions are caused by different triggers: strengthened regulations, changes in core business, pressure to reduce costs and increase efficiency, changes in technology towards machine learning.

The speakers explained that every change is also a chance. They described the use of regulatory obligations to optimize the company and to achieve economic benefits. The role of automation of the process chain, communication between locations, seamless traceability and audit trails, agility and the reuse of regulatory services for economic purposes were discussed. Above all, new technologies were presented that go hand in hand with regulatory change.

Dr. Karl Kirchgesser and Mr. Meyer from FERNBACH gave an insight into predictive analytics with machine learning and presented the early warning system developed by FERNBACH as well as robot process automation to reduce back office costs.

FERNBACH was delighted with the banks' support and that this event was such a great success.

Do you see yourself facing the growing challenges? Could our solution convince you to make your operations smoother and more effective?

Please contact us and get first-hand information!

Mr. Michael Meyer
Head of Sales at FERNBACH

Mr. Michael Meyer