- Prior to the onset of
the digital banking era,
size is all that mattered.
The bigger, the better.
If you have more capital, more
reach, you had more business.
But with digital banking,
the playing field was
leveled for all players.
So if you have a mobile banking app
with good quality products and services,
competitively priced, the small
could compete with the big.
Finance House is, essentially,
a boutique financial services provider.
We focus on exceptional
customer experience
to a corporate and retail customers.
Cloud gave us an opportunity
to expand our customer base
without investing in more
brick-and-mortar branches.
Microsoft Azure has a
global infrastructure.
It's got very high security standards
and they also have a local data center
that complies with the UAE
Central Bank regulations.
The first big application
to go live on the cloud
was a corporate banking app
that allows our existing
and prospective customers
to manage their account relationships
and all their banking
activities from a single app.
The good thing about the Azure platform
is that security is managed
in an integrated fashion,
allowing us to focus more on innovation
in the application itself.
Power Apps was a great tool
that allowed us to dynamically
develop and deploy apps
at a rapid pace.
Digitalization helped us in two ways.
The first one is, it's a
self-service by customers,
so a lot of processes that
were previously happening
within the institution
are now happening at the customer's end.
The second way it helped us
is to reduce the paper
intensivity of our operations.
Digitalization means a 24/7 availability,
so our customers could now
use our products and services
on a 24/7 basis,
way beyond the normal
operating hours of a branch.
The next step is the rollout
of our consumer banking application,
so that we can reach out to
a much larger customer base
in the consumer segment.