International Data Corporation (IDC) hosted its inaugural UAE Banking & Finance Congress at the Jumeirah Creekside Hotel in Dubai, which focused on blockchain technology and improving customer experience.

Customer expectations are changing with rising demand for better and personalized services. The event explored this evolution in customer demand and offered advice on what it takes to triumph in the battle to provide the best customer experience.

Set against the backdrop of embracing the power of digital technology, the event leveraged IDC Financial Insights' extensive end-user research on the subject. This was complemented by the thoughts of public sector experts on emerging issues such as transforming customer experiences to drive growth, leveraging blockchain technology within the financial industry, and future-proofing IT infrastructure.

"Over the last nine months, blockchain technology has been a much touted branch of science that is poised to change the entire financial landscape," says Thomas Zink, Associate Research Director, Financial Insights, IDC Central Europe. "However, its true capabilities and potential can easily be misunderstood. As such, our aim during this event was to explain how blockchain technology can be used to improve efficiency while reducing the cost of operations and serving as an enhanced, tamper-evident ledger solution that will form a major part of future banking systems."

In addition, IDC introduced its new digital transformation model – 'Leading in 3D' – which is focused on providing the tools required to drive operational excellence in retail and corporate banking.

The event brought together a panel of BFSI industry leaders who presented best-practice strategies for going beyond digital and enhancing customer experience. It featured interactive presentations from senior executives of Emirates NBD, National Bank of Fujairah, Al Hilal Bank, Commercial Bank of Dubai, RAKBANK, United Bank Limited, Union Insurance Company, DGCX, and First Gulf Bank.

IDC experts were joined by leading technology vendors at the event, including Hitachi Data Systems, Misys, Vision Solutions, Western Digital, and Oxford Business Group and Business Islamica.

IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. For the Middle East, Africa, and Turkey region, IDC retains a coordinated network of offices in Riyadh, Casablanca, Nairobi, Lagos, Johannesburg, Cairo, and Istanbul, with a regional center in Dubai.