Latest news with #technologytransformation
Forbes
a day ago
- Business
- Forbes
A Phased Approach To Innovation For Banks To Maximize Returns
Paul Davis, Founder, Bank Slate. Technology transformation in banking doesn't need to begin or end with a core conversion. In fact, the smartest banks approach innovation through a phased lens: starting small, targeting pain points and moving forward with a strong operational core. The first step isn't technology. It's alignment. When processes are inconsistent, policies are unclear and adoption is spotty, even the best tech will fail. We've seen banks pour time and capital into flashy systems that go underused or unloved because the internal infrastructure wasn't ready. Technology should support your workflows, not compensate for the ones you never finished designing. In a recent engagement, we helped a midsize bank develop a right-sized tech road map grounded in present-day readiness and future ambitions. The plan focused on practical, modular improvements in onboarding, CRM, data visibility and process automation. What emerged was a timeline of manageable changes, each tied to business goals, budget clarity and ROI checkpoints. Here's how we are phasing it and what other institutions can learn from the experience. 1. Fix The Foundation (0–12 Months) The first year isn't about bold moves. It's about building internal momentum. We are prioritizing low-cost, high-impact changes to increase employee visibility and improve the customer journey without requiring a rip-and-replace approach. Staff will be trained on their core dashboards to build data fluency, and we will launch a simple Excel-based CRM tracker with templated follow-up tools. We plan to standardize loan submission checklists, coordinate monthly meetings between lending and servicing, and hire front-line staff with client-service backgrounds. Early-stage tech evaluations will help us prepare for longer-term integrations. The goal? Higher internal buy-in, better communication across teams and early wins to share with the board. 2. Activate Fintech Overlays (12–36 Months) Our long-term plan includes a phase that, after the foundation is set, will let us layer in client-facing enhancements. We aim to select a marketing-enabled CRM and deploy digital onboarding tools to reduce friction. We are planning to implement mortgage prequalification logic, rebuild small-dollar lending flows with e-signature, and revamp the bank's website to include guided product selection tools. AI-driven decisioning engines that are already in use will be leveraged to improve business credit underwriting, while the team plans to add new products for small businesses and professionals. This phase is designed to deliver tangible improvements. Customers should see faster response times and more intuitive digital flows, while internal teams will be empowered with better tools. 3. Reinvent For Scale (36–60 Months) The final phase of our three- to five-year plan allows the bank to think about its long-term platform. We will evaluate the core system and develop an RFP process in case scalability becomes an issue. We will evaluate middleware to centralize data. Upgrades to mobile and online banking are possible. The bank also plans to pilot API-enabled commercial lending tools and launch new verticals. We also recommended adding financial education modules and embedded fintech offerings to reach new customer segments. At this stage, the bank isn't just layering tech. It is future-proofing its business model. Don't Start With Tech, Start With Discipline Too many banks equate modernization with moonshots. The reality is more grounded: The most effective change happens when leadership aligns internal structure with external goals, and when systems reinforce existing processes, rather than outright replacing them. A tech road map isn't just a list of shiny tools. It's a sequencing strategy. If you're not ready for a new core system today, that's okay. What matters is knowing where you are now and ensuring that every step forward builds a foundation for the next. Start small. Stay aligned. Innovate with intention. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
The National
05-08-2025
- Business
- The National
Alpha Dhabi 'exploring' building UAE data centres amid AI boom
Alpha Dhabi Holding, a unit of Abu Dhabi's International Holding Company, is open to 'indirectly' tapping into the UAE's growing data centre scene as it continues to expand its portfolio, a senior executive said on Tuesday. The investment company, with total assets of nearly Dh200 billion ($54.5 billion), does not have specific plans to invest in data centres, but would consider building the facilities, which are key components of the artificial intelligence boom, chief strategy and investor relations officer Derek Nicholson told The National. 'Indirectly, we can participate in some of the [technology] transformation that's happening here in the UAE … someone has to build [the data centres], so we could build that through our construction division and we're actively exploring opportunities,' he said, speaking at a media round-table in Abu Dhabi. Mr Nicholson was referring to Trojan Construction Group, which he said could create a division to build data centres. Alpha Dhabi was known as Trojan Holding before a rebrand and initial public offering in 2021. 'This is a significant growth area for that [as they are] going to be the construction projects of the future and if you can deliver and specialise in that, there can be significant new markets that can be available to us,' Mr Nicholson added. The UAE, Abu Dhabi in particular, has made a flurry of moves to advance its technology sector, especially amid the AI boom, such as the 1-gigawatt Stargate data centre to be built in the UAE capital. 'If we see something in data centres, then we could consider it and it would go through our investment screening process,' Mr Nicholson said. 'We have a lot of capital that we're looking to deploy and our job is to find the best ones.' Alpha Dhabi has plans to float more of its companies, although it has yet to determine how many, which ones and when, Mr Nicholson said. The listings would most probably be on the Abu Dhabi Securities Exchange, owing to the strength of the emirate's stock market, he added. 'When we think [our companies] reach the right level, then they're ready to go on the stock market,' he said. Tariff impact 'virtually zero' The sweeping tariffs imposed by the US government have had 'virtually zero' impact on Alpha Dhabi's business, owing to 'very detailed due diligence', Mr Nicholson said. 'If we were going to invest in a particular country or a sector, we would look to see if there was any impact on the tariffs, but the tariffs have had virtually zero impact on our business,' he said. Net profit for the three months ending in June soared more than 117 per cent year-on-year to Dh4.53 billion, the company said in a filing to ADX, where its shares trade. Revenue for the period jumped nearly 22 per cent year-on-year to Dh18.43 billion. For the first half of 2025, Alpha Dhabi's profit inched down 0.7 per cent annually to Dh6.63 billion, despite a decrease in non-recurring accounting adjustments of Dh1.4 billion. Revenue for the six-month period leapt 22.3 per cent year-on-year to Dh35.85 billion, while earnings before interest, taxes, depreciation and amortisation – a key metric for profitability – jumped 34 per cent to Dh8.4 billion. Alpha Dhabi's industrial portfolio made the biggest contribution to its first-half revenue with Dh13.4 billion, followed by real estate's Dh12.8 billion and construction's Dh6 billion. 'The majority of our revenues are growing. There's a lot of tailwinds that are coming in from the initiatives that the [UAE] government is launching [and] we're benefitting from that,' Mr Nicholson said. 'Our companies are doing exceptionally well in terms of the growth that they're achieving.' Alpha Dhabi has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions in 2021 and 2022. The conglomerate, through its entities, has been investing in Europe, the US and Africa. Among the biggest names under Alpha Dhabi's portfolio are Aldar Properties, Abu Dhabi's biggest listed developer; Pure Health, the largest health care group in the Middle East and North Africa; NMDC Group, the biggest engineering, procurement and construction company in the Middle East, and Trojan Construction, the industry's top group in the UAE. In May, Alpha Dhabi signed a partnership agreement with Abu Dhabi's Al Jazira Sports Club to run until the end of the 2027-28 football season.
