New technologies could ‘revolutionize’ Qatar’s banking industry, says Commercial Bank COO

​Doha, Qatar: Dr Leonie Lethbridge, EGM, Chief Operating Officer at Commercial Bank, yesterday talked about how new technology can be applied by banks in Qatar during a panel discussion at Euromoney Qatar Conference 2018.

 

Dr Lethbridge was participating in a panel discussion on the second day of the conference about how banks can use new technologies to improve the customer experience. During the panel discussion she spoke about how banks can apply technologies from the fintech sector, such as blockchain, to add value to customers.

 

Dr Lethbridge said: “There is an opportunity for banks in Qatar and around the world to use technology to provide great products and services that will help us to build even better relationships with customers by improving their experience of banking with us. It has the potential to truly revolutionize the sector.

 

“This evolution in technology, which today we call fintech, will become more important in the way we are doing banking now. Technologies like blockchain could hold enormous promise, and at Commercial Bank, we are actively developing our approach in how to use new technologies like this.

 

“However, it is very important that banks understand how it can be used to create value. What should drive adoption around this is value created through offering new products and services, by improved efficiency, and through even better client experience, not the technology itself.”

 

Commercial Bank’s innovative application of new technologies is part of its work to support the realization of the goals of the economic pillar of the Qatar National Vision 2030, specifically the development of a diversified and sustainable economy.

 

Dr Lethbridge followed Joseph Abraham, Group CEO at Commercial Bank, who gave a keynote interview at the conference on Sunday. During his interview, he talked about Qatar’s economic prospects in 2019 and international investor confidence in Qatar and Commercial Bank. They both spoke at the conference in Commercial Bank’s capacity as Lead Sponsor.

 

The Euromoney Conference is a major industry event in Qatar, bringing together leaders from around the world to discuss pressing global financial issues, especially relating to the State of Qatar and its economy. The focus of this year’s conference is  Qatar’s post-blockade strategy and its development as a sustainable economy.

     

The conference, which is held under the patronage of HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior, featured a host of prominent national and international speakers. High profile speakers included HE Mr Ali Shareef Al Emadi, Minister of Finance, HE Sheikh Abdullah Bin Saoud Al Thani, Governor of the Qatar Central Bank, and  Philippe Legrain, Visiting Fellow, London School of Economics.

 

In addition to this year’s sponsorship of the conference, Commercial Bank was also Lead Sponsor of the Euromoney Qatar Conference in 2013, demonstrating its commitment to supporting high-profile, financial events of this kind in Qatar.