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10th FinTech Future Conference (IFPI2018) has concluded successfully!

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10th FinTech Future Convention 2018 (hereinafter referred to as IFPI2018) has concluded successfully on October 15th-16th in Shanghai, China. The conference was co-organized by CDMC Finance Research Institute (hereinafter referred to as CFRI) and CDMC Group, with strategic partnerships of FinUp Group and Yirendai.

IFPI2018 brought financial elites together from government institutes and associations, regulatory agencies, domestic and international banks, insurance companies, consumer finance companies, supply chain finance companies, AI companies, big data, cloud computing, blockchain, investment companies, and so on. IFPI2108 discussed the most hottest topics, including “The Next Decade of Global FinTech”, ” FinTech+: Exploring The Way of Future Finance”,”Situational Finance”, “Insurtech”, “AI, Blockchain, Big Data and Cloud Computing”, “‘The Belt and Road’FinTech Cooperation”, “Future Banking Technology”, “Banking Credit”, and “FinTech Industry Development of Beihai”. The conference featured with 6 forums, 3 closed-door meetings, FinTech Awards Ceremony, with 90+ speakers, 20+ exhibitors, and 100+ media partners.

Strong Conference Lineup

China is now in pole position in the global FinTech field. According to the study, China comprised over half of the total number and amount of investment and financing, ranking first in the world, among the global FinTech financing activities in 2017.

Currently, banking, payment, insurance, P2P, big data, cloud computing, AI and blockchain have profound influence on financial innovation and revolution. How to draw a blueprint of China’s FinTech? What are the major changes in the business models and operating models of banking and insurance? How do banks position themselves, acquire customers and strengthen risk controlling? How do consumer finance and supply chain finance integrate with FinTech? How do blockchain, AI, big data and cloud computing empower the future finance? What are the preferences and directions of the capital market for FinTech? What are potential FinTech cooperation opportunities in Singapore, Thailand, Philippines, Indonesia and Vietnam? What capabilities should financial talents have in the future? How to pick up financial talents? What advantages has Beihai for development of FinTech industry?

In this context, CFRI invited eminent experts and leaders to discuss the hottest topics, such as, “FinTech Empowers the Future”, “AI and the Future Society: Opportunities and Challenges”, “FinTech: Cooperation Builds a Bright Future for All”, “Life Insurance and InsurTech”, “FinTech Empowering Traditional Credit”, “Exploring the Future Banking Models: The Path Choice of Constructing Digital Ecological Banking”, “Electronic Certification Promotes New Financial Development”, “FinTech: From Tradition to Refinement”, “Starting the Banking Revolution”, “Insurance: From Industrial Thinking to Intelligent Thinking”, “InsurTech at AXA: Innovationto Capture New Insured Needs”, “Blockchain + Internet Insurance—Reshaping the Insurance Service Model”, “AI Powers Intelligent Insurance”, “The Application of AI in Ping An’s Property Insurance”, “Technology Contribute to Healthy Development of Inclusive Finance”, “Analysis of Global InsurTech Trends”, “Effective Risk Management As A Core Pillar for Sustainable Consumer Finance Business”, “Science and Technology to Help Construction of Finance Ecology”, “Innovative Application of Call Big Data in Risk Control”, “Blockchain: Banking Transformation and Innovation Foresight”, “Creating Borderless Consumer Finance Services”, “How to Cultivate Consumer Finance (Living Scene)?”, “Ten Relationships of Banking Transformation”, “The Innovative Practice of Social AI in Financial Front Office and Middle Office Business”, “The Big Data Layout in FinTech Field”, “FinTech Drives Consumer Finance Development”, “AI Brings the World Closer”, “ ABCD Empower Inclusive Finance”, “ Blockchain: Towards Consensus”, “The History of Artificial Intelligence and It’s Application in Inclusive Finance”, “Blockchain Development Trends and Its Application in Finance”, “Adopting Emerging Tech in Financial Services”, “Innovative Application of Big Data and AI in Banking Industry”, “ FinTech in the Digital Age”, “Financial Data Intelligence”. The conference aimed to build a splendid platformfor networking, learning and business exchanges through high-quality conference content and a variety of guest interaction forms.

10th FinTech Future Conference (IFPI2018) has concluded successfully! 3

Speakers (the list is in no particular order):

Ben Shenglin, Professor, Academy of Internet Finance, Zhejiang University

Chen Xin, Vice Mayor, Beihai City Guangxi Province

Yang Qiang, Professor at HKUST, President of IJCA

CaoYang, COO & CTO, Yirendai

Chia Hock Lai, President, Singapore FinTech Association

Chen Shili, DGM of the Internet Financing Center, ICBC

Sun Zhongdong, President, Chongqing Fumin Bank

Chen Shaoguang, Chairman, iTrusChina Co., Ltd.

Jane Fang, VP of Data Science, MobData

Brit Blakeney, Executive Director, Head of Innovation & Ecosystems, DBS Hong Kong

Zhao Lei, Executive Director of China Insurance Association, Secretary General of Shanghai Insurance Institute

Sun Xing, Head, AXA Next Lab Asia

Pan Gaofeng, Assistant President & CTO, Tk.cn Insurance Co., Ltd.

Ma Jianzhong, DGM, Cloopen

Huang Yi, AI Senior Expert, Ping An Property Insurance

Shi Hui, Co-founder & CIO, Quantum Insurtech

Tian Fengzhan, Chief Data Scientist, Sunshine Insurance Group

Yang Xuan, Founding Partner, Warp Speed Capital

Andrii Grab, Risk Management X-sell Underwriting Director, Home Credit China

Qi Wenping, DGM, Suning Consumer Finance Co., Ltd.

Mao Yujian, Founder &CEO, Dianhuabang

Zhang Minglai, Security Department of Data Center, Bank of Communications

Zhang Zhengyuan, GM of the FinTech Department, 100Credit

Han Zhiyuan, GM of Direct Bank Department, Zhongyuan Bank

Joey Xu, Vice President, Beike Finance

Eric Kang, Head of FSI China, Wisers

Zhou Nan, Head of Data Mining Department, JIGUANG

Zheng Xiaobin, Product &Technology Leader, BSB Consumer Finance

Ken Huang, Founder and Chairman, Nuclear Chain

Xu Lei, Professor of Computer Science and Engineering of Shanghai Jiao Tong University, Academician of European Academy of Sciences

David Ye, Co-founder, Chairman and CEO, Jianpu Technology Inc

Kevin Guo, Chairman of Starwin Capital, Founder of Dianrong

Yao Jian, Chief Technology Officer, PPmoney

Altona Widjaja, Head of New Digital Venture, Bank OCBC NISP

Li Feng, Chief Data Scientist, Tencent Cloud

Chuck Chen, CTO, YeePay

Ken Huang, Founder and Chairman, Nuclear Chain

Rollin Zhang, Staff Solution Architect, Alibaba Cloud

Adam Gao, Founder, Treasure Online

Diverse Meeting Formats

Be filled up with various meeting formats, IFPI2018 had the main plenary on the first day with the theme of “The Next Decade of Global FinTech”, “FinTech+: Exploring The Way of Future Finance”, and 3 sub-forums on the second day, including “Insurance Technology Summit”, “Situational Finance Summit”, “Smart Finance Technology Summit”.

Besides the informative keynote speeches, IFPI2018 also has several round table discussions, with the themes of “How Do Financial Institutes Use Technologies to Strengthen Financial Integration and Connectivity in the Context of ‘The Belt and Road’ Initiative”, “2028, Dialogue with Banking Future——Mission, Technologies, Key Players, and What Measures Should Companies Take in 2018”, “How to Shape the Future of China’s InsurTech”, “Is It Still the Best Time for Chinese Consumer Finance in the Context of Stricter Risk Control”, “AI +Big Data +Blockchain +Finance, 10 Innovative Ideas for 2019”. Through these discussion, we have brought together high level experts to discuss and analyze the latest policies, and tendency,which have a lot benefits and impacts for the audience, even to the Fintech industry.

Panelists:

Chia Hock Lai, President, Singapore FinTech Association

Lito Villanueva, Managing Director of FINTQnologies Corp, Chairman of FinTechAlliance.ph

Akaradej Disyadej, Managing Director, Thai FinTech Association

Duncan Kuo, Head of Strategic Investment Department, FinUp Group

Song Yuqian, Expert in Banking Analytics London, McKinsey &Company

Brit Blakeney, Executive Director, Head of Innovation & Ecosystems, DBS Hong Kong

Sun Zhongdong, President, Chongqing Fumin Bank

Chen Shili, DGM of the Internet Financing Center, ICBC

Altona Widjaja, Head of New Digital Ventures, Bank OCBC NISP

Zhao Lei, Executive Director of China Insurance Association, Secretary General of Shanghai Insurance Institute

Shi Hui, Co-founder &CIO, Quantum Insurtech

Tian Fengzhan, Chief Data Scientist, Sunshine Insurance Group

Pan Gaofeng, Assistant President & CTO, Tk.cn Insurance Co., Ltd.

Sun Xing, Head, AXA Next Lab Asia

Yu Baicheng, President, O1Caijing

Shea Chen, Chief Risk Officer, Xiaomi Financial

Andrii Grab, Risk Management X-sell Underwriting Director, Home Credit China

Qi Wenping, DGM, Suning Consumer Finance

Liang Yupin, VP of Finance Department, ZhongAn Insurance

Wang Gang, GM of Consumer Finance, Hairongyi

Li Feng, Chief Data Scientist, Tencent Cloud

HuangLing, Founder& CEO, AHI-FinTech (Beijing) Technology Co., Ltd.

Chuck Chen, CTO, YeePay

Wang Bao, Dean, Silver Valley FinTech Research Institute

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The Belt and Road” FinTech Cooperation & Beihai FinTech Business Invitation Summit

IFPI2018 also held“The Belt and Road”FinTech Cooperation & Beihai FinTech Business Invitation Summit at15 October. Co-organized by CFRI, CDMC Group, and FinUp Group, the summit gathered executives from private equity funds, consumer finance, supply chain finance, big data, AI, blockchain, and smart credit to discuss FinTech cooperation in Southeast Asia, planning of financial industry development and preferential policies of Beihai, the latest hotspots of global financial development.

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Banking Credit Closed-door Meeting

Banking Credit Closed-door Meeting, co-organized by CFRI and Yirendai, has concluded successfully on October 16th in Shanghai, China. The meeting invited more than 20 managers of bank credits department to discuss the hottest topics, such as, “How to Realize the Growth of Geometric times for Bank Credit Business in the Context of FinTech”, “Innovations of Retail Finance and Micro-Finance in Services, Business Models, Products, Organization and Risk Control”, “How to Use Big Data, Cloud Computing, AI to Directly or Indirectly Expand Customer Scale, Enhance Service Experience, Technological Innovation and Business Model Competitiveness”, “Think of Acceptance, Scene Selection, Technology Application, Credit Review, Risk Control Capabilities, Customer Post-Loan Management. Apart from closed-door meeting, it also arranged a “one-to-one” cooperative docking service to effectively support the development of bank credit business.

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Future Banking Technology Closed-door Meeting

The organizing committee invited senior leaders from foreign banks, state-owned banks, nationwide joint-stock commercial banks, city commercial banks and internet banks to the seminar to discuss some core topics, such as, “What Are the Future Bank?”, “Technology Route, Realization Path, Bank Risk Control in the Era of FinTech”, “New Exploration and New Ideas of Retail Banking”, “What Are the Major Changes in the Business Model and Operation Mode of Banks?”, “What Capabilities Should Be Needed for Future Financial Talents and How to Pick Up Financial Talents”.

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IFPI FinTech Global Cooperation Closed-door Meeting

IFPI2018 invited Singapore FinTech Association,Thai FinTech Association, FinTechAlliance.ph, JD Finance,PPmoney, Xiaomi Finance, HengChang, Worldpay, Rong 360, Home Credit, Hong Kong University of Science and Technology to discuss regulatory policies, landing procedures, introduction of local financial technology development, technical environment, legal environment, support for landing, taxation, and risk warnings in Southeast Asia.

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Brand Display and Corporate Promotion

At IFPI2018, dozens of industrial famous enterprises at home and abroad carried out the outstanding products and solutions through booth showcasing, such as, Dianhuabang, CAAD, iTrusChina, Yourongwang, MobData,Wisers, Yirendai,Quantum Insurtech, XuanWu Technology, JiGuang, mobvoi, SinoVoice, Beihai City Guangxi Province, FinUp Group, Shanghai Goodview Electronics Co. Ltd, DataVisor, yuntongxun, Somur.com, Vhall, Chinadatapay.com. The excellent booth showcase had attracted many participants to exchange ideas and promote further cooperation.

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AtIFPI2018, the participants also gained the valuable media exposure opportunities from the following media partners:People.com, Sohu.com, CBN, Shanghai Securities News, Leiphone, Lanjinger.com, Caixin.com, Beijing News, Wdtianxia.com, 21st Century Business Herald, Gold Master, Cfsatn.com, RELUXE, Industrial Economic Review, Treasurychina.com, ABCfinance.co.uk, Sh.QQ.com, PR Newswire.

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IFPI FinTech Awards Ceremony

IFPI FinTech Awards Ceremony & VIP Appreciation Banquet was hold on the evening of the October 15th. This list aimed to recognize outstanding companies and individuals who have made  prominent contributions in the industry.

10th FinTech Future Convention 2018 has concluded successfully on October 15th-16th in Shanghai, China! Looking forward to meeting you next year!

Event Website: http://www.theifpi.com/indexen.html

Technology

CEO Hisham Itani and Resource Group Recognized in the 2020 Global Banking & Finance Awards®

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Global Banking & Finance Review has awarded Hisham Itani the Chairman and CEO of Resource Group, Technology CEO of the Year Middle East 2020 in recognition of his vision, strategy and strong leadership that have contributed greatly to Resource Group’s success in winning the Most Innovative Holding Group Middle East 2020 in this Global Banking & Finance Awards®.

CEO Hisham Itani and Resource Group Recognized in the 2020 Global Banking & Finance Awards® 4

Resource Group is an investment group with a portfolio of diversified businesses that capitalizes on technology and human talent for value creation. The company has proven that it has gone the extra mile to develop innovative solutions aimed at improving people’s lives and helping Lebanon transition toward a knowledge-based economy. Global Banking and Financial Review, the renowned online and print magazine identified a number of areas that Resource Group has excelled. The company has been awarded Most Innovative Holding Group Middle East 2020, and Hisham Itani the Chairman and CEO, receives the award for Technology CEO of the Year Middle East 2020. Under his leadership, Resource Group has grown from a family security-printing business to a diversified international investment group, with a portfolio of companies across 10 sectors in over 75 countries.

Wanda Rich, editor Global Banking & Finance, said “Mr. Itani took the security printing business to another level and expanded into different technology verticals in an impressive list of success stories”. The list includes digital security, smartcard manufacturing, mobile value added solutions, cyber security and secure communication solutions, telecom infrastructure and managed services, elections supply chain services, lottery systems and operations, mobile and virtual reality games, among others.

Resource Group’s focus on technology has had a constructive and tangible impact on government automation and on citizen experience in target markets.

Editor Wanda Rich says “We are proud to offer Resource Group these prestigious awards and wish them continued success and growth into 2021 during these challenging economic times”.

Global Banking and Finance Review is a renowned online and print magazine. The magazine’s website alone receives over 7 million page views annually. Global Banking and Finance Review provides a balanced view with formative and independent news from the financial community. The Global Banking & Finance Awards® were created to recognize companies of all sizes that are prominent in particular areas of expertise and excellence within the global financial community. The awards are known throughout the global banking and financial community. They reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the financial sector.

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Bouncing back in 2021: Digital Transformation is no longer a choice as dependence on 5G, IoT and Data increases in society and business

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5G and Open Banking: Explosive growth or business as usual?

By Ivan Ericsson, Head of Quality Management, Expleo Group Limited

The global pandemic has put enormous strain on businesses and brought into sharp focus the importance of being agile, adaptable and able to increase the pace of innovation and change at short notice – catapulting technology right to the top of the agenda for many organisations.

As the economy works to get back on its feet, technology is only going to play a bigger role in our lives. At Expleo, as experts in digital transformation and the reliable implementation of technological innovations, we’ve outlined the biggest tech-driven trends that we expect to see in 2021 and beyond.

1)     “Digital transformation” no longer a choice

If the COVID-19 pandemic has taught businesses anything, it’s that they need to be poised to respond to abrupt market disruption at any moment, making digital transformation mandatory overnight.

With no room for delay, hugely complex corporations – that have historically been slow to adopt technology – have had to accelerate their reliance on technology just to keep afloat in recent months. Digital change, at speed, has become the norm.

Even last year, the idea of an unscheduled video conference call might put people on edge – now most of us wouldn’t think twice about calling a colleague over Teams or Zoom even for a 2-minute conversation. At the same time, social infrastructure has moved with the needs of its users, with telecoms giants strengthening and opening up networks so we can keep communicating despite social distancing.

There are now very few excuses left for operating in a non-digital way. All businesses need to be intelligent businesses that can change direction nimbly, with speed, confidence and composure. As we see more businesses putting this into practice, it’ll likely result in an increased number embracing and normalising some of the behaviours of tech-savvy giants like Apple and Amazon, who have no doubt thrived during this period.

Their success can largely be attributed to normalising an agile approach. By ensuring all applications have testing facilities built in – a “quality shadow” if you will – it allows for continuous improvements, and the ability to change direction quickly and confidently, when needed. This is particularly valuable today as the world becomes more fast-paced and increasingly unpredictable.

2)     Big data/AI/predictive analytics

We’re moving into a space where big data can be extracted from the most seemingly innocuous places. In a hyper-connected world, a move as simple as a dog walk could offer huge swathes of data to the right companies. Many businesses already realise the benefits of capturing and utilising big data, but not all have taken advantage of it. The businesses that move quickest are most likely to reap the rewards in a more impactful way than their ‘data shy’ competitors. Where data used to be a side effect of business operation, it is now the driving force.

As businesses begin to rely more heavily on data to make critical decisions, independent assurance becomes increasingly important to get those decisions right. Forward-thinking, data-driven organisations must therefore assure that the data is correct in the first place, to avoid giving businesses false confidence and risk them moving in the wrong direction – something that is rarely affordable in today’s competitive and fast-paced environment. If businesses are not 100% confident in assuring the quality and accuracy of their own data, they should look to a third party for support.

A key data trend we expect to see moving further into 2021 is the increased use of predictive analytics. At the moment, businesses will often use data analytics to give us insights into our past activities, or to tell us where we are right now. However, the real value lies in knowing where we are going and how we are going to get there. Data analytics will help to identify the optional levels that can be pulled to drive change and realise business benefit.

Secondly, as intuitive technology advances and becomes more accessible, we expect over the next 12 months to see companies of all sizes begin to adopt artificial intelligence (AI) to drive intelligent analytics. In this context, AI refers to various technologies that allow machines to learn, sifting through ‘messy’ big data in order to find and unlock valuable predictive insights into future events. This allows businesses to better adapt their strategy to likely future outcomes and get a head start in the market.

However, with this ever-increasing emphasis on data and data protection, ethical AI will have a more prominent role to play in 2021 and beyond. Protected, usable Data is a by-product of good data security and privacy measures; however, the public remain wary of how their data is being used, particularly after the fallout from Cambridge Analytica’s use of data to influence an election[1]. Businesses, therefore, must give their customers confidence that their data is secure and protected.

3)     Moral relevance/corporate altruism

Research shows that young people are increasingly researching and considering the ethics of brands they’re purchasing from. And it won’t be long before this attitude starts seeping into every other aspect of their lives, with more and more people wanting to work for what they consider to be “purpose-driven” businesses.

Talent is the lifeblood of any company, so for big corporations, many of whom were born to create profit, this could put them in a tricky position. They might already be influencing society in a positive way – but this is unlikely to have ever been their main goal.

Moving forward, however, all organisations will have to start thinking about the “Triple Bottom Line”. That means considering the environmental and social impact of your business, alongside your commercial imperative.

We’ll soon see a mindset switch across businesses, from ‘competing’ to ‘advancing’. Instead of wanting to be the “best,” the question will be, how can I better serve the world around me?

In line with this, businesses will have to start thinking more about how to use tech for good, as we’ve seen with the likes of Microsoft Teams connecting tens of millions of people every day, during this very dark time[2].

2021 is likely to bring even more inroads when it comes to using technology to improve society, whether it’s developing bespoke problem-solving technologies or using IT to ‘eco-proof’ existing sectors, the goal for businesses is to rise to this challenge and build a better future for people and the planet through the use of technology. But all organisations will continue to need to be able to justify technology use and prove that they’re using it ethically, and in a secure manner.

4)     5G new networks – just about all big trends are driven by/reliant upon faster networks – particularly relevant for a more distributed workforce

Greater access and utilisation of 5G networks across the country will underpin and accelerate all of the key trends discussed. Everything we do on our smart devices we can expect to do at higher speed, greater capacity and with lower lag times.

As our digital footprints extend beyond simple web browsing and into our daily lives through smart technology, we are creating huge amounts of data every minute. This vast flow of data is increasingly dependent on new high bandwidth networks to facilitate it. Therefore, the merging of technology and engineering will become critical in ensuring big data is carried successfully to drive analytics and drive business.

The fact we have managed to successfully work from home during COVID is a glowing recommendation for the quality of the networks as they exist today, and they will only get better.

The telecoms industry is already working overtime to ensure that people all over the country get reliable access to the internet – and the fact that there is still inequality in this area proves just how challenging this is. But, in line with this trend toward hyper automation, which will make data extraction and analysis a part of everyday life for businesses, the consolidation of tech and engineering will be ever more important.

Forward-thinking companies will look to incorporate 5G networks into their business strategy. This could be from an internal perspective to enhance the abilities of their remote workforce. Alternatively, this could relate to their own products or offerings – developing an internet of things (IoT) strategy, improve user experience, or bring products to market faster by analysing big data and adapting quicker. Either way, with increasingly improved networks, businesses are expected to take advantage of the huge increase in accessible and usable data.

Concluding comments:

For businesses to truly reap the benefits of these new technologies, they must be developed and adopted in the right way.

Quality assurance, trust and security are three key requirements that the technology of the future depends on to succeed. Having these requirements at the heart of any digital transformation will ensure that systems perform reliably, having been tested and assured.

By prioritising a seamless customer experience combined with an ability to create, test, and scale digital solutions and operationalise at pace, businesses will be in the best possible position to take advantage of the potential being unlocked by these new technologies.

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Ahli Bank, Oman, is SunTec’s 50th customer for its Indirect Taxation Solution

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Ahli Bank, Oman, is SunTec’s 50th customer for its Indirect Taxation Solution 5

SunTec’s GCC VAT compliance solution to help Ahli Bank automate end-to-end VAT compliance process, manage regulatory changes, and seamlessly integrate it with the existing IT ecosystem

SunTec, the world’s #1 relationship-based pricing and billing company and the provider of #1 GST and VAT compliance solution for Banks and Financial Services in GCC and India, has partnered with Ahli Bank, Oman, to provide its GCC VAT compliance solution.

The win is a landmark one for SunTec as it marks the 50th customer for its indirect taxation solution. SunTec has garnered 24 customers in India and this is the 26th customer in the Middle East to acquire the solution.

VAT is likely to be introduced in Oman in early 2021 and Ahli Bank has taken the proactive step of adopting a VAT compliance solution to ensure operational efficiency, enhance revenue, and augment customer experience.

Amit Dua, President – Client Facing Groups, SunTec, said, “We are delighted to partner with Ahli Bank, Oman in what marks a historic win, in their journey to ensure VAT compliance. We understand that the VAT landscape is evolving within the GCC, and therefore, our solution offers agility to respond to these changing regulatory requirements. With the Xelerate platform and GCC VAT compliance solution, Ahli Bank can digitize the entire VAT compliance process and comply with least number of changes to their existing technology infrastructure.”

He added, “VAT is a crucial step that the GCC countries have taken to implement tax regimes. It is imperative for banks and financial institutions to have a robust and scalable solution to accommodate their specific needs. Ahli Bank joins the list of more than 20 banks who have adopted our GCC VAT Compliance solution.  I’m proud to say that approximately 3 billion transactions per annum are processed through our GCC VAT/ GST compliance solution across our client base.”

Said Abdullah Al Hatmi, CEO at Ahli Bank, added: “It is extremely crucial for us to be ready for VAT compliance. We are very happy to partner with SunTec to deploy GCC VAT compliance solution. With SunTec we will have a single solution in place covering all aspects of VAT compliance and we will be future-proofed given that any future regulatory changes will be handled by the solution with ease.”

SunTec’s GCC VAT compliance solution based on the Xelerate platform will enable the bank to smoothly comply with GCC VAT regulations and manage potential regulatory changes with ease. The single end-to-end solution helps automate the entire VAT compliance process including centralized rule-based tax determination, input tax recovery, tax invoice, reconciliation, corrections, adjustments, statements, and regulatory reporting.

SunTec GCC VAT Compliance solution is architected to meet the unique needs of banks and financial services firms and can easily integrate with existing IT systems. The solution is designed to process all taxable transactions across business lines and applications, reduce cost of compliance, mitigate potential risk of compliance violations, penalties, and reputational risk.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

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