Bankers, tech firms meet to discuss new trends
The discussions, held at the Kampala Serena Hotel were co-hosted by Eclectics International and Oracle.
Sam Steins, an account Cloud Engineer at Oracle, speaking during a discussion on urgent digital transformation trends that are reshaping the banking sector globally. (Courtesy photo).
Ali Twaha
Journalist @New Vision
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Senior bankers and global technology executives gathered in Kampala on April 9 to discuss urgent digital transformation trends that are reshaping the banking sector globally.
The discussions, held at the Kampala Serena Hotel were co-hosted by Eclectics International and Oracle.
Globally, some financial institutions have turned to using artificial intelligence (AI) strategically in areas such as operational automation, 24/7 customer support services, and onboarding clients, among others.
Sam Steins, an Oracle cloud engineer, urged financial institutions to prioritise adopting existing cloud-based tools over costly in-house development.
Sam Steins, an account Cloud Engineer at Oracle, speaking during a discussion on urgent digital transformation trends that are reshaping the banking sector globally. (Courtesy photo)
“Do not spend too much time trying to build models which already exist in the cloud because building from scratch is too expensive and complex. We have models that are ready for use. 99% of the institutions be it here in Uganda or probably even worldwide are using some form of an Oracle product,” he said.
The event attracted representatives from leading banks, including Centenary Bank, Standard Chartered, Absa, dfcu, PostBank, and Tropical Bank, among others.
Oracle, is a global leader in database management, and Eclectics is a Nairobi-based tech firm. It is behind the design and development of the Uganda Bankers Association Agent Banking Platform. The platform enabled the connection of nearly 27 financial institutions.
Boniface Ouko, Head of Enterprise Business Unit at Eclectics International, speaking during a discussion on urgent digital transformation trends that are reshaping the banking sector globally. (Courtesy photo)
According to Boniface Ouko, Head of Enterprise Business Unit at Eclectics, empowering employees with the right technological sustenance is conducive to both customer success and business growth.
Ouko said Eclectics has developed intelligent automation tools that can uplift service agents, revitalize existing customer support channels, enable 24/7 customer care and satisfaction, and generate excellent business value.