Category Finance News

President Trump’s mixed signals and political theatrics complicate a landmark cross-border acquisition and raise red flags for foreign firms.

The year-and-a-half-long saga of Nippon Steel Corp.’s bid to buy U.S. Steel took another twist late last month when President Trump unexpectedly announced via social media post a “blockbuster agreement” to finally conclude the deal. But if we’re now in the final act of the drama, that was just Scene 1.

Scene 2 came and went on June 6, when Trump missed what was supposed to be a deadline to approve or reject a deal. Scene 3 is now expected before June 18, the date by which the two companies agreed to complete the deal—unless they decide to extend it.

Whether the final curtain in this cliffhanger drama gets extended yet again is still to be known. Meanwhile, interested parties from steelworkers and their families to U.S. Steel stockholders to Pennsylvania elected officials are pondering an assortment of critical but still up-in-the-air details. And other non-US companies are picking up some cautionary lessons about seeking US acquisitions in the Trump era.

With an executive order in January, outgoing President Joe Biden had blocked the U.S. Steel sale, which would have been one of the largest US acquisitions ever by a Japanese company, on national security grounds. Then in April, in a highly unusual move, Trump ordered the Committee on Foreign Investment in the United States to try again to make a recommendation on a Nippon Steel and U.S. Steel tie-up. CFIUS had failed to agree on a recommendation last fall and kicked the decision up to the Biden White House.

Trump received the committee’s recommendation on May 21, giving him 15 days—until June 6—to decide to overturn Biden’s executive order. He didn’t, although his social media post, and statements made at a rally at U.S. Steel’s nearly 90-year-old Mon Valley Works–Irvin Plant outside Pittsburgh,indicated he was prepared to do so.

Instead, the White House claimed he had only asked CFIUS for guidance, not a recommendation, and that the real deadline is June 18. Biden, in his executive order, had given Nippon Steel and U.S. Steel until then to abandon their deal, which means that to push it through, they must conclude it by that date.

What the president didn’t do was backtrack on his claim that a historic deal was within reach.

U.S. Steel will continue to be “controlled by the USA,” he declared at the rally; “otherwise, I wouldn’t have done the deal,” which he claimed to have brokered. Nippon Steel would plow $14 billion into its new properties, amounting to essentially the entire purchase price, including $2.2 billion to increase steel production in Mons Valley and another $7 billion for modernizing plants in other parts of the country, creating at least 70,000 jobs. Further, there would be no layoffs and the new owner would keep all current blast furnaces in full operation for at least 10 years.

“You’re not going to have to worry about that,” the president assured a community that has depended upon U.S. Steel for generations. “They’re going to be here a lot longer than that.”

Stakeholders Left Scratching Their Heads

Trump’s pronouncement left steelworkers, shareholders, analysts, and even Nippon Steel executives trying to tie up some important loose ends, however. Published reports indicated that the acquisition price of $55 per share that the two companies shook hands on in December 2023 was unchanged, and that the deal would still be a 100% acquisition, as Nippon Steel had always preferred: not an “investment,” as Trump earlier suggested.

But the biggest mystery involves the actual control structure the deal would put in place at U.S. Steel.

Republican Sen. David McCormick of Pennsylvania told reporters following Trump’s remarks that the company will continue to have an American CEO and an American-majority board of directors and that the US government will hold a “golden share,” meaning it will have the right to approve some of the board members. That in turn “will allow the United States to ensure production levels aren’t cut and things like that,” he said.

No material terms have emerged from the closely guarded Nippon Steel-U.S. Steel talks as to how this mechanism would be set up, however.

A “golden share” generally means a block of shares that lets the party holding them outvote all other shareholders. But such arrangements, while common in Germany and some other parts of Europe, are “not typical” in foreign acquisitions of US companies, notes Antonia Tzenova, leader of the CFIUS and Industrial Security Team at law firm Holland & Knight, and are generally resisted by the acquirer.

If the parties have something other than a classic golden share in mind, they have not disclosed it—and that constitutes an additional mystery. Trump said that he had not yet seen a formal deal, despite his having received a report on it from CFIUS. If a new deal has been agreed to, Tzinova points out, U.S. Steel has a legal obligation to reveal it to its shareholders.

And to the United Steelworkers, which represent U.S. Steel employees, union officials say.

“Neither President Trump nor Senator McCormick have offered any detail concerning the ‘planned partnership’ or the nature of ‘control by the USA’ of U.S. Steel following the closing of a transaction,” a union official said in a memo to the company—even though those details could affect U.S. Steel’s contract with the union.

Hard Lessons For Foreign Corporations

The two companies have pursued the sale doggedly for a year and a half; as if to underscore the urgency for a Japanese producer of acquiring U.S. operations, Trump announced shortly after his remarks in Mons Valley that Washington would be doubling tariffs on imported steel. But pushing through even a deal that makes economic sense is more difficult in the present era, Tzinova says.

Nothing about Nippon Steel’s initial proposal to buy U.S. Steel was very unusual, she notes, just its timing. Coming when a presidential election cycle was already under way, the deal quickly became a political issue. The lesson for non-US acquirers: avoid announcing a deal during an election year.

But Nippon Steel could have helped its cause, Tzinova adds, if it had lobbied more heavily and reached out more expansively to all the stakeholders involved. Those stakeholders would include the union and its members, local businesses for whom U.S. Steel is an economic anchor, and state governments. United Steelworkers President David McCall noted pointedly after Trump’s remarks that the union, which strongly opposed the sale, had not been included in the two companies’ discussions with the administration.

That’s another lesson non-US investors will have to learn going forward, Tzinova advises.

What does it mean to be a happy country? The World Happiness Report points the way to life satisfaction for citizens.

Frigid temperatures, dark winter days, a breathtakingly high cost of living: who would ever want to live in a place like that? As it turns out, that is precisely where one can find the happiest people on Earth. Finland conquered the United Nations World Happiness Report’s top spot for the sixth year in a row, and not because there is something in the icy waters of this nation of just 5.6 million people. Finland is not the wealthiest nation either among the 147 countries and territories surveyed by Gallup World Poll: more than 25 other countries beat the country’s GDP per capita, but Nordic countries in general score well.

Happiest Countries Embrace Support

What does it even mean to be a happy country in a world rattled by war, inequality and political divisions? It is often said that even in the worst of times there is joy to be found, and the World Happiness Report rankings back this adage with plenty of data. Since the ranking was launched in 2013, the researchers of the Sustainable Development Solutions Network, the United Nations nonprofit designed to push for broader measures of global happiness and health, have demonstrated time and time again that the happiest countries have high levels of trust and are more resilient when a crisis hits.

Measuring trust in a society is not an easy task.  In their 260-page study, the happiness experts offer plenty of detailed charts, graphs and historical data. As a quick alternative, we can skip all that and ask ourselves a simple question: how worried would I be if I lost my wallet?  To feel that it would be returned by a police officer, a neighbor or a stranger, tells a lot about how happy you and the people around you are. Not only that, it is a more powerful predictor of individual well-being than wealth. Money—as the report has repeatedly demonstrated—does not buy happiness.

This year’s report has specifically examined how acts of kindness and generosity—both in terms of what recipients gain and what givers gain from these acts—affect personal happiness,  and one of the key findings is that we are often too pessimistic about the benevolence of others. For example,  in an experiment, when wallets were intentionally dropped in the street by researchers, far more than people had expected.

Also, because we often undervalue others’ kindness, learning about their generosity can boost our well-being, and when a society is more benevolent the people who are least happy see the greatest benefit. To prove their point, the researchers note that benevolence increased during COVID-19: “People needed more help and others responded. This ‘benevolence bump’ has been sustained since then.” In fact, despite a fall from their peak, these acts are still about 10% above their pre-pandemic levels.

Nordic Nations Lead The Pack

Nordic countries continue to excel, as they have historically: Finland tops the list, but Denmark, Iceland, Sweden, the Netherlands and Norway make the top 10 too.

What sets them apart from nations with lower scores are support systems that can soften the impact of shocks. Whether through support for mental health and well-being or a strong sense of leaving a positive legacy for future generations through efforts like the Sustainable Development Solutions Network, citizens of happy countries report better life evaluations and more positive assessments of their own lives. What is exactly the right mix of ingredients for happiness? High GDP per capita, social support in times of need, an absence of corruption in government, healthy life expectancy, freedom to make life choices, and generosity or charity towards others—these are the original six key factors that the researchers have used over time in their report on global life satisfaction.

Yet, this edition of the Happiness ranking contains some big surprises too: two countries from Latin America, Costa Rica and Mexico, have entered the top 10 for the first time, jumping 6 and 15 spots respectively. Their GDP per capita is roughly a fifth of that of the richest nations in the world (Luxembourg or Singapore, for example), and roughly a third of that of all the just-mentioned Nordic countries, but money—as the report has repeatedly demonstrated over many years (and as many of us are still stubbornly reluctant to believe)—truly does not buy happiness.

#10 | Mexico 🇲🇽

In the pursuit of happiness, Mexico and other Latin American nations, with their large households and strong family ties, have many valuable lessons to teach us. Life satisfaction is higher among couples with children and those who live with their extended family, and households of four to five people are associated with even more elevated levels of happiness.

While such living arrangements are often linked to diminished economic satisfaction, a higher degree of relational satisfaction is not in doubt. Being part of a large family just makes us happier, even though at times it can drive us crazy too. The correlation is evident among Europeans as well, where single-person households make up just 23% of the total and two-member households are 34%. In Mexico, however, these figures are just 11% and 20% respectively. And it’s not just the close family: Mexicans also score very high when it comes to the quality of social connections. They know they can count on people in their lives, such as other relatives and friends, to provide help whenever needed.

#9 | Luxembourg 🇱🇺

Just a decade ago, this land of castles, lakes and rolling hills sat at the lower end of the top 20. Luxembourg made it into the top 10 in the 2020 edition of the report and has remained there since.

This small nation of less than 700,000 people scores above average in social connections, subjective well-being, freedom to make life choices and life expectancy. And while money cannot buy happiness, Luxembourg’s status as one of the richest countries in the world where workers enjoy an average gross salary of almost 7,000 euros per month certainly doesn’t hurt.

#8 | Israel 🇮🇱

Though it slipped three positions since last year, it might be surprising to find Israel close to the very top of the UN Happiness Index amid the country’s ongoing war with Gaza. But there is a relatively simple explanation: the collective sense of empathy and solidarity, and thereby happiness levels—as also proven by the Covid-19 pandemic—tend to rise when a crisis hits.

It is also worth noting that since the index was released for the first time a decade ago Israel never slipped below the 14th spot. But how could this nation of roughly 10 million— surrounded by hostile neighbors and perpetually embroiled in conflict—truly be so happy? Easy answer: happiness is not just determined by the presence or the lack of one given element. Israel is a rich and vibrant country where people can rely on strong community ties and feel they can decide how to pursue their goals in life.

#7 | Norway 🇳🇴

It is one of the most prosperous countries in the world—and one of the most virtuous. Norwegians think that democracy should enforce social and economic equality. The result is less income and gender disparity, excellent free healthcare and more confidence in elected officials. Social and institutional trust are essential factors in one’s sense of personal well-being, and the Covid-19 pandemic proved it starkly. In that sense, Norway has been particularly successful in keeping mortality rates low and mitigating the economic impact of lockdowns.

While over the past few years Norway has been slipping in the ranking (it occupied the top spot in 2017), there is no doubt that its social model remains an extraordinary success story.

#6 | Costa Rica 🇨🇷

About 5 million people living on this thin stretch of land between Nicaragua and Panama are among the happiest on earth. Although one in five citizens is estimated to live below the poverty line, all Costa Ricans have what is often missing in wealthier countries: a good welfare system that includes universal access to health care, primary and secondary education, and relatively high pension benefits.

How does the government pay for all that? Costa Rica abolished its military in 1949, and has since invested those savings in its people. Along with the presence of strong family ties, beautiful landscapes and perfect weather, it is no wonder that Costa Ricans are quite content with their way of living.

#5 | The Netherlands 🇳🇱

Gaining one spot in this year’s ranking, the Dutch are more affluent, educated, and free to make their own life choices than at any point in their country’s history.

Except for Mexico, the top 10 no longer include any of the world’s most populous nations, with the Netherlands being the only one with a population exceeding 15 million. Remarkably, among the countries in the top 10, the Netherlands also showed the smallest gap between the most and least happy people: in other words, the Dutch experience similar levels of happiness, and they are quite high.

#4 | Sweden 🇸🇪

Along with the top three nations in the ranking, Sweden maintains the position it held last year. Sweden has consistently ranked high on the list thanks to its affluence, strong social support networks, and perceived honesty and accountability of its institutions.

The Scandinavian country also boasts an enviable work-life balance: it offers one of the longest paid vacation periods compared to any other country in the world—with a legal minimum of 25 days that can go up to over 40— while new parents can take up to 480 days during which they receive around 80% of their salary.

#3 | Iceland 🇮🇸

Iceland routinely tops a wide variety of quality-of -life rankings. Chosen by both the World Economic Forum as the best country in the world for gender equality and the Institute for Economics and Peace as the most peaceful for more than 10 years in a row, this republic of about 390,000 is one of the most environmentally friendly too. Iceland also has the highest per capita publication of books: 10% of its residents will embark on the noble quest of penning one in their lifetime, which must be something that makes them really happy.

Iceland has sat in the third position of the happiness ranking since 2022, and with its enchanting landscapes, low taxes and free healthcare and education, it is no surprise that it is so close to the top of the UN index.

#2 | Denmark 🇩🇰

Coming in as runner-up for the seventh year in a row, Denmark topped the list in the first report, in 2012, and again in 2013 and 2016. Nordic countries, the authors of the report have noted in the past, share similar social and political models and values. That explains why all of them feature among the 10 happiest countries in the world and why they often swap places on the happiness podium.

Danes score high when it comes to work-life balance, the environment and healthcare. They also pride themselves on having one of the smallest wealth gaps in the world—and a society where people share both the burdens and the benefits equally, the report shows, is a happier society.

#1 | Finland 🇫🇮

Coming in as runner-up for the seventh year in a row, Denmark topped the list in the first report, in 2012, and again in 2013 and 2016. Nordic countries, the authors of the report have noted in the past, share similar social and political models and values. That explains why all of them feature among the 10 happiest countries in the world and why they often swap places on the happiness podium.

Danes score high when it comes to work-life balance, the environment and healthcare. They also pride themselves on having one of the smallest wealth gaps in the world—and a society where people share both the burdens and the benefits equally, the report shows, is a happier society.

World’s Happiest Countries 2025

Customer experience and operational efficiency were boosted through mobile apps, AI chatbots, and real-time data dashboards. Global Finance announces the 2025 Innovators from Latin America.

Regional Winner

Most Innovative Bank in Latin America| BANCO BRADESCO

Banco Bradesco has incorporated innovative Gen AI applications into its operations to modernize services and processes. By using AI to extract and quantify information from investment reports, the bank can tailor analyses to meet the needs of institutional clients.

The Bridge platform integrates services to optimize banking applications from different business areas, eliminating the need for subject-matter expertise. The IdeIA solution reads customer-service emails and automates previously manual processes to respond quicker to customers. By simplifying processes, the bank is able to improve the user experience for its customers. Horizon uses customer data to generate commercial insights to better understand customer needs and behaviors; thus, it can simplify decisionmaking. Athena solves the problem of manually documenting calls and chats by using AI to transcribe and compile these. These are only a few of the innovations within the bank that have improved efficiency and saved time. 

Innovations In Finance Globally From Latin America

Best-in-Class Payroll Onboarding Process| BANAMEX

To eliminate manual tasks, data errors, and cumbersome processes, Banamex introduced Remote Account Opening Payroll, which connects employees with their employers through a fully digital self-service onboarding process. Employers can onboard employees for payment processes through the e-banking portal, which saves time by digitizing the interaction between employees and their employer’s new human resources department. Employees no longer need to provide personal information and bank account numbers to their employers by email or paper. Instead, they can open a Banamex account that has features similar to a checking account and securely validate their identity using biometrics.

Analysis of Accounting Statements| BANCO CENTRAL DO BRASIL

Every year, the financial institutions supervised by Brazil’s central bank issue accounting reports that are used to verify their compliance with regulations. These reports are not standardized and extracting the relevant information can take weeks and many employee hours. The central bank’s new internal tool uses a large language model and AI to simultaneously analyze some 1,800 accounting statements in approximately 20 minutes to determine whether the supervised entities are in compliance. The tool is calibrated to eliminate bias so that the extracted information yields more accurate results.

Cuscatlan New App| BANCO CUSCATLAN

Customers using the Cuscatlan New App can customize their home screens to view particular products and services. Thanks to enhanced security and privacy settings, they can also specify which accounts and balances they want displayed on their home screen and easily access key functions like cardless cash withdrawal with only a few clicks, making the new app more intuitive than competitors’. It also addresses customers’ pain points and cumbersome processes to streamline how they can access products and services through a more intuitive, personalized banking experience, the banks says.

SAM (Servicio de Atencion Movil)| BANCO DEL PAIS (BANPAIS)

To promote financial inclusion in Honduras, Banco del País introduced SAM, an AI-powered chatbot providing a more personalized and interactive means for clients to self-service their routine banking needs. This virtual assistant is a customer’s first point of contact and addresses questions over social media. Customers can access SAM 24/7 from WhatsApp or Facebook Messenger along with other in-country social platforms to perform such operations as transaction inquiries, credit card balance checks and activation, and safety blocks and answer more than 80 frequently asked questions.

ARI – Generative AI to Support Micro and Small Businesses| BANCO DO BRASIL

Aiming to better understand the needs of entrepreneurs and the opportunities they seek, Banco do Brasil launched ARI, an AI-driven alternative to conventional banking consultancy models. The technology uses a generative AI conversation assistant in Microsoft Teams, analyzing raw financial data to produce personalized insights for Brazilian micro and small businesses. ARI simplifies complex financial processes for entrepreneurs, saving them time and resources, and generates insights into customer behavior and performance and growth opportunities, enabling entrepreneurs to make better informed strategic decisions.

Rural Banking| BANCOLOMBIA

Bancolombia is addressing financial inclusion in rural communities with a territory-based intervention model rather than a product-centric approach. Using localized financial solutions, technology-enabled access, a financial literacy program, a stronger entrepreneurial ecosystem, and networks that empower women, the bank has simplified financial processes and improved accessibility to foster sustainable economic development. Multiple areas of the bank are collaborating to solve the problem of financial inclusion, including a Rural Innovation Lab that identifies systemic challenges, experiments with new financial solutions, and codesigns interventions with local communities. The bank is also working with the Bancolombia Foundation to incubate and scale social impact projects.

Automation| BANCO W

App Abogados W leverages low-code and no-code technology to improve debt collection for the customer, resulting in a 94% increase in operational efficiency for Colombia’s Banco W. Developed by the bank’s WLab in partnership with Universidad Icesi, the app has reduced payment agreement processing time from 15 days to less than 24 hours; with improved customer experience, this has netted the bank a 400% increase in agreements. By reducing costs, the app has allowed Banco W to reallocate resources to other strategic tasks.

Improvements in the Negotiation of Early Credit Card Delinquencies in Collection Telephone Calls| BBVA

BBVA is transforming its debt collection process by applying insights from behavioral economics to collection calls for early credit card defaults. The change addresses customers’ emotional and cognitive barriers when dealing with debt and relies on customer responses to legal and financial incentives. The new approach helps the bank make interventions at an early stage of delinquency, helping prevent debt loads from becoming unmanageable. Advisors guide conversations with negotiation accelerator cards based on behavioral economics and tailored to the individual customer’s psychology. The result has been an increase in recovered balances and customers getting better control of their finances.

BTG AI Banker Agent| BTG PACTUAL

BTG AI Banker Agent gives individuals access to a private banker for their customer service, personal finance management, and investment advisory needs. Utilizing generative AI and deep learning models, this tool includes a daily banker that acts as a personal financial assistant; a foundational customer model that leverages transactional data, behavioral insight, and risk profiles; a research assistant that analyzes the customer’s assets, macroeconomics, and financial news; a customer service assistant; and an investment advisor that recommends optimized investment portfolios to help customers meet their goals. 

Banks deployed cutting-edge technologies to streamline processes, manage risks, and deliver smarter, more personalized financial services. Global Finance announces the 2025 Innovators from Central and Eastern Europe

Regional Winners

Most Innovative Bank in Central and Eastern Europe| AKTIF INVESTMENT BANK

Aktif Investment Bank, Turkey’s largest privately owned inves tment bank, has applied AI to boost internal bank processes. In early 2025, the bank launched an AI-driven digital interview system that integrates realtime lip synchronization and natural conversation using ChatGPT. Lip synchronization makes the AI interviewer appear more lifelike and engaging.

The new platform reduces the high cost of traditional interviews by automating the screening process and minimizing the need for human intervention in the early stages of the recruitment process. It’s multilingual, too, allowing candidates to interview in their native language.

The bank has also implemented AI to detect fatigue among its call-center employees. Undetected worker burnout is a problem that plagues many call centers; and this new system utilizes deep learning for real-time facial-movement analysis—assessing microexpressions, smile frequency, and facial tension in real time. Managers can then take fast corrective actions.

Most Innovative Financial Technology Company in Central and Eastern Europe| INPOST PAY

Poland’s InPost Pay has developed an online app that streamlines customers’ online shopping experience by combining payments and deliveries on a single unified platform. Once customers register with InPost Pay, they can shop at multiple online stores without logging in at each store. They don’t have to select a payment option and a means of delivery each time either, because those preferences are saved within the system. Customers can edit their shopping cart purchases at their leisure too.

Studies have shown that 60% to 70% of online shopping carts are abandoned by consumers—a pain point for merchants and consumers.

InPost Pay claims to have lowered that rate substantially. InPost Pay acquired 3 million users in the first six months after the solution’s 2024 launch. The company expects to expand the service beyond Poland soon. 

Innovations In Finance Globally From Central and Eastern Europe

Your Everyday Financial Companion Akbank Mobil: For You| AKBANK

In January, Turkey’s Akbank launched a revamped version of its mobile banking app with a new multi-dimensional ecosystem that integrates lifestyle elements, personalized insights, and partner-based capabilities. Utilizing AI, the app provides leads and insights in a range of areas including travel planning and household budgeting. Since the revamp, the app has had 4.8 million unique visitors, 214,700 of whom have become mobile active for the first time. Akbank reports that its gross profits have ballooned since the launch.

CSOB Mortgage with Digital Signature and Mortgage Zone| CSOB

CSOB has boosted its mortgage activity by applying an emerging technology to a local problem. Beginning in March, advanced electronic signature technology enables customers to sign mortgage and collateral agreements, completing a range of mortgage processes, without entering a bank branch.

The new tool saves significant time for mortgage applicants, too, because they no longer must deal separately with the Czech Republic’s land registry office. Everything can be done by mobile phone or on a home computer. More than one-third of CSOB’s mortgage activity is now completed using a qualified electronic signature.

Next-Generation Fraud Detection and Prevention System| KAPITAL BANK

Kapital Bank last year became Azerbaijan’s first financial institution to integrate advanced real-time monitoring and multi-layered cyber defense mechanisms for fraud prevention.

The new system applies 54 distinct prevention controls aligned with global standards for information security management systems. A 24/7 monitoring mechanism blocks attempted fraudulent actions before they can occur, shielding Kapital Bank’s 5 million-plus customers. Last year, the system thwarted 198,734 fraudulent transactions, double the previous year’s total, the bank reported.

Bancassurance| MAIB

MAIB last year became the Republic of Moldova’s first bank to fully integrate digital insurance with its bank offerings. Retail bank customers can now purchase credit protection insurance to cover loan installment payments in case of illness or job loss.

The entire process, from loan agreement to compensation, can be handled directly on the maibank mobile app, including vehicle and travel insurance coverage. MAIB worked with Donaris Vienna Insurance Group to make these sometimescomplex insurance products more understandable and accessible for bank customers.

RBI’s New Cash Management Digital Ecosystem| RBI

RBI has been a regional leader in adopting faster, more secure processes for electronic bank account management. Its new cash management system provides real-time updates and streamlined data reconciliation as first steps enroute to fully digitized management of all bank accounts.

RBI has also accelerated onboarding for its large international customers, including the New Yorker fashion chain, by bundling centralized treasury capabilities, plug-and-play API integration in SAP software solutions, and convenient account management.

Enhancing Slovak Call Center Customer Service with Fine-Tuned Whisper Model| TATRA BANKA

Tatra banka, a serial innovator, has developed a new customized speech-to-text model for transcribing call-center recordings. Developed by the Slovakia-based bank’s advanced analytics department, the service leverages generative AI and was fine-tuned on the bank’s own internal speech data.

Tatra banka’s aim was to extract information, dates, and account amounts. The system automatically records who called, the date, and reason for the call, as well as the size of the caller’s bank account(s). The model also analyzes text transcriptions to gain insights into customer concerns using Whisper, an open-source automatic speech recognition system the bank customized for its own speech-to-text needs.

In the past year, banks prioritized innovation through digital platforms and AI, driving improved service, security, and analytical capabilities. Global Finance announces the 2025 Innovators from Asia-Pacific.

Regional Winners

Most Innovative Bank in Asia-Pacific| TAIPEI FUBON BANK

In 2024, the Taiwan bank introduced IntelliChat, a chatbot enabled by Gen AI, designed to handle customer-service queries. It has improved the retail-user experience at the bank by reducing previously long wait times for account information. Waiting to speak with a specialist or chatbot took an average of 27 seconds before implementation, compared with 20 seconds after implementation. At the same time, call volume increased from 176 calls per day to 208 calls per day.

AI is also being used to sharpen the bank’s marketing efforts. LeikaAI, an in-house solution that optimizes marketing-audience selection, has replaced manual marketing processes based on structured query language. It can generate precise customer segments in 20 minutes that would have required three or four days to complete earlier.

Meanwhile, the bank introduced a new version of its mobile banking app that integrates banking, securities, property insurance, and life insurance services. Using predictive modeling, the app is also able to personalize recommendations for customers.

Most Innovative Financial Technology Company in Asia-Pacific | KASIKORN BUSINESS-TECHNOLOGY GROUP

A depository institution’s core banking system is its backbone—the back-end information-technology system that processes daily banking transactions and updates financial accounts and records.

Thailand’s Kasikornbank, also known as KBank, set before itself a daunting task: Create an entirely new core banking system without impacting the continued working of the incumbent system. More than 2,000 applications and interfaces would be affected during the process.

The new system was developed by KBank’s technology arm, KBTG, and went live in October 2024 after 22 months of work involving 1,000 employees. It has increased KBank’s transaction capacity by 50% and now supports up to 60 million customer accounts.

Mobile banking transactions at KBank have surged in recent years, necessitating the upgrade. K PLUS, one of the bank’s mobile apps, already has 23 million users and accounts for 30% of all financial transactions in Thailand.

Innovations In Finance Globally From Asia-Pacific

Intelligent Risk Prevention Solution Based on Collateral Management| CHINA CENTRAL DEPOSITORY & CLEARING

Implemented last year, CCDC’s risk prevention solution uses high-tech algorithms to automate and optimize collateral management within China’s bond market, the world’s second largest. It does so by applying robotic process automation and optical character recognition technologies to previously manual processes.

The risk prevention tool has improved operational efficiency by approximately 50%, according to CCDC, while reducing human error risks and improving resource allocation. CCDC clients can now use up to 20.9% of their holding assets as collateral, a high percentage for any platform.

AI-Powered Green Fintech for Sustainable Financing Business| CTBC BANK

Launched last November, this Scope 3 emission management solution from Taiwan’s CTBC Bank addresses the challenges facing financial institutions seeking to manage (Scope 3) greenhouse gas emissions. Partnering with Evercomm, a provider of digital sustainability solutions, the platform enables banks to measure the carbon impact of their financing decisions and track their sustainability targets.

Based on the Monetary Authority of Singapore’s AI in Green Fintech initiative, the platform uses publicly available ESG information and high-tech robotic process automation tools to extract the necessary emissions data.

Customer Service Officer (CSO) Assistant| DBS

DBS, a leader in innovation, uses AI to free its customer service officers from some of their most operationally taxing chores. The automated CSO Assistant transcribes and summarizes live customer calls and includes an email triaging tool that has already prioritized more than 48,000 offline messages.

Launched last August, CSO Assistant has improved the effectiveness of some 1,000 CSOs across Singapore, Taiwan, Hong Kong, and India, according to DBS, reducing the average time required to handle a single call by at least 5% while capturing conversations with customers more accurately.

Transforming Payment Process with Tokenization| OCBC

OCBC partnered with the Land Transport Authority of Singapore (LTA) last November to implement a blockchainbased solution for disbursing advance payments to LTA’s contractors. These can amount to millions of dollars and are critical to defraying contractors’ heavy upfront capital outlays.

Payments by LTA are now disbursed automatically almost immediately, once the blockchain’s smart contracts have verified that agreed-upon conditions have been met. Payments are also more transparent, secure, and traceable, for payer and payee alike. To date, over $22 million has been disbursed to LTA’s main and sub-contractors. 

The banking sector saw a surge in AI integration for tasks ranging from asset tracing to debt recovery, raising the bar for innovation. Global Finance announces the 2025 Innovators from Africa.

Regional Winners

Most Innovative Bank in Africa | NEDBANK MOZAMBIQUE

In an effort to modernize operations, Nedbank Mozambique has implemented innovative digital solutions to strengthen its services and processes. Customers can use various functions across digital channels to easily transfer funds to mobile wallets or cash from prepaid cards to Nedbank accounts. NedChat is an organizational chatbot that uses artificial intelligence (AI) to provide employees with real-time access to knowledge about bank products, services, standards, and polices, to help streamline workflows and boost productivity.

The bank has also taken a proactive approach to risk management by implementing NedCreditAnalysis, a tool that uses Gen AI to extract and analyze relevant information from financial documents for credit decisions in various products. To strengthen the bank’s cybersecurity, it implemented a mechanism that binds each of a customer’s accounts to a specific device through a unique identifier. This has helped to prevent unauthorized access to customer accounts as well as to prevent identity theft. 

Most Innovative Financial Technology Company in Africa | MNT – HALAN

MNT-Halan has been transforming access to financial services for African consumers and businesses. With over 2.4 million active users quarterly, this digital platform serves segments often overlooked by traditional financial institutions. The Halan app started as a ride-hailing service and was transformed into a lending platform that uses automation to underwrite and originate loans tailored to customers. Neuron is a proprietary API first core banking software that powers the Halan product ecosystem. This API enables the company to seamlessly and securely connect with digital banking services that support streamlined processes and optimize the user experience.

Through Neuron, users, merchants, loan agents, and MNT-Halan branches are connected across an easy-to-use network to transact with millions of customers in multiple currencies. This technology supports over 11 million customers, 54% of whom are women; and it has helped MNT-Halan drive financial inclusion in Egypt by providing costeffective solutions to unbanked customers.

Innovations In Finance Globally From Africa

Iogate | ABSA

Supporting its effort to digitize the paper-intensive trade finance business, Absa’s Iogate API allows the bank to connect to third-party fintechs while protecting data easily and seamlessly. The solution is helping Absa pivot to new technologies as the market evolves, without disrupting existing workflows. The API leverages cutting-edge orchestration to ensure a faster, more cost-efficient trade solution and equips customers and the bank with a future-proof infrastructure. By integrating with an assortment of fintechs, Iogate promotes personalization through a customized suite of products and services that help clients meet their unique goals.

SMART TPE| BANQUE SAHELO-SAHARIENNE POUR L’INVESTISSEMENT ET LE COMMERCE (BSIC SENEGAL)

BSIC Sénégal offers merchants an additional customer payment method through SMART TPE, a technology that facilitates contactless mobile payments via a bank card or digital wallet while using electronic payment terminals. The new payment system gives merchants more ways to accept customer payments and allows them to transfer the funds directly to their BSIC bank accounts, shortening the interval before they can access these funds. SMART TPE allows customers in turn to use their digital wallets to pay for goods and services from merchants, improving the customer experience.

First-Ever Sectoral Funds in the Egyptian Market | BELTONE ASSET MANAGEMENT

With limited options for sector investing on the Egyptian Exchange (EGX), retail investors previously could not easily take advantage of sector performance that can change with economic conditions. Instead, they invested in individual companies or in funds targeting a broader index. To address the demand for more strategic investments opportunities, Beltone Asset Management developed four sector funds (Beltone Real Estate Fund, Beltone Financial Fund, Beltone Consumer Fund, and Beltone Industrial Fund) that reflect real-time sector trends. The firm has also forged alliances with fintechs to provide clients with broader access to its funds on various platforms.

Digital Account Opening | IIB WEST AFRICA

Opening a bank account in the Republic of Cabo Verde is a time-consuming, complex operation that requires customers to fill out forms and complete multiple steps in person at a bank branch. iibCV launched a digital platform that allows customers to open accounts online. By leveraging technologies that authenticate and integrate with automatic verification systems, the platform simplifies the process, saving time for both customers and the bank. The new platform is compliant with the bank’s standards as well as associated regulations and legislation.

La Cagnotte by SoGe | SOCIETE GENERALE MAROC

To help Moroccans manage savings simply and securely, Societe Generale Maroc introduced SoGé cagnotte, a budget management solution integrated into its digital banking app, SoGé. The app boasts an enhanced customer experience offering an assortment of tools to promote financial inclusion and help boost Moroccans’ purchasing power. SoGé cagnotte digitizes the concept of the piggy bank, enabling customers to work toward their financial goals by creating up to five savings goals, each personalized by name, savings amount, and date.

Robin Hood Unclaimed Benefits Solution, Powered by Standard Bank | STANDARD BANK

In South Africa, over R90 billion (about $4.95 billion) of unclaimed assets are due to over 8 million residents, with 6% of assets paid annually as more are added. Finding the beneficiaries is the problem. Robin Hood, a fintech, has developed an innovative solution using AI to match beneficiaries with their unclaimed assets. Standard Bank partnered with Robin Hood and supports the AI solution through its OneHub platform. Starting with a dividend book and pension book worth a combined R1 billion, more than R10 million thus far have been returned to over 6,000 beneficiaries. 

Trump’s new wave of protectionism is shaking faith in the US dollar and prompting nations to rewire trade and financial relationships.

The global trade order has entered a period of profound uncertainty. Longstanding alliances are shifting, financial norms are being questioned, and countries are scrambling to revamp their economic strategies. Globalization isn’t dead, however; it’s just reassembling.

Much of the disruption begins in the US, where President Donald Trump’s abrupt, aggressive shift in trade policy has injected a new volatility into global markets. His “Liberation Day” tariff package, unveiled April 2, aimed to revive domestic manufacturing by imposing steep duties on imports, promising a new “golden age of America” powered by reshored jobs and greater market access for US goods abroad.

Rather than resetting the global playing field, Trump’s trade shock has set off a cascade of recalibrations. The US dollar has weakened, its role as a reserve currency is being reevaluated, and foreign investors are quietly retreating from US assets. At its lowest point in early May, the US dollar index had fallen 8.9% year-to-date before partially recovering. Treasury bonds, once a byword for safety, are being shed at an accelerating pace.

“We have been arguing over the last few months that the market is reducing its willingness to fund the US twin deficits,” George Saravelos, global head of foreign exchange research at Deutsche Bank, wrote in a recent note. “We worry this is brewing a major problem for the dollar—and potentially the US bond market too.”

As the US continues one-on-one tariff negotiations with China and more than 100 other governments, other countries aren’t waiting for Washington to set the rules. From Latin America to Asia and the Middle East, trade alliances are being redrawn and export strategies are shifting. The map of global commerce is changing in real time.

Call it the Great Realignment.

For over 50 years, the US has occupied a peculiar place in the global trading landscape, importing vast volumes of consumer goods and relying on foreign capital to finance the resulting trade deficits. Foreign governments bought trillions in US Treasury bonds, cementing the dollar’s dominance as a global reserve currency. That “exorbitant privilege,” as it’s sometimes called, is now under pressure.

“China doesn’t mind the decoupling; it’s only the speed that is upsetting them.”

Andrew Polk, Trivium China

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Washington’s pivot toward tariffs and economic nationalism is forcing allies and rivals alike to reconsider their exposure to the US system.

“Unpredictable and maximalist US policies, such as claims on territory owned by traditional US allies, serve to increase concerns about coercion and lead states to insure against it,” Deutsche Bank’s macro strategists, Oliver Hardy and colleagues, wrote in a May note, “e.g., by reducing reliance on the US financial system and the dollar as a medium of exchange and store of value. Moreover, as alternatives become more developed, the opportunity cost of moving away from US financial networks declines.”

The US-China dynamic remains central. After the US imposed 145% tariffs on Chinese goods, Beijing responded with 125% levies on US exports. A 90-day truce was agreed to in Geneva in May, scaling back tariffs to 30% and 10%, respectively. While the deal provides temporary relief, it has not erased concerns that the world’s two largest economies may be heading toward a long-term decoupling.

New Alliances Take Shape

Other governments aren’t standing still. Even as the US pursues a broad slate of trade talks, it has announced only one new agreement so far—a framework deal with Britain, signed in May, many details of which have yet to be worked out. Meanwhile, many countries are accelerating their own trade diversification strategies to hedge against further disruptions.

The effects of this realignment are already playing out on the ground, nowhere more clearly than in Latin America, where some of the biggest beneficiaries of the Trump policy are located. As US trade relationships grow more uncertain, many of its former hemispheric partners are deepening ties with China and other global players to safeguard their export markets.

Even before the current tariffs were announced, Chinese imports of US agricultural products had declined 14% to $29.25 billion in 2024, which followed a 20% decline in 2023, a legacy of the first Trump Administration’s earlier round of tariff hikes targeting Beijing. By contrast, Brazil exported $49.7 billion in agriculture to China last year, with soybeans the main export crop. Eyeing an opportunity to replace US farm exports to China, Brazil sent a 150-member trade delegation, its largest ever, to Beijing in May, headed by President Luiz Inácio Lula da Silva, and opened a new office in Beijing to promote coffee and other exports.

Meanwhile, China signed a letter of intent with Argentine exporters to buy $900 million worth of soybeans, corn, and vegetable oil to avoid sourcing them from US farmers, putting further pressure on Washington.

It’s not only the Chinese who are shopping for South America’s agricultural products.

“There are increasing opportunities for Latin American countries to strengthen trade links with both Asia and Europe,” says Andrés Abadía, chief Latin America economist at Pantheon Macroeconomics. The EU signed an agreement with the Mercosur countries—Argentina, Brazil, Paraguay, and Uruguay—in December, he notes, creating a free trade area between the two blocs, a market encompassing a quarter of global GDP. The pact, when ratified, will remove 90% of tariffs on agricultural exports to Europe and the EU’s industrial exports to Mercosur countries.

The new attention is welcome in Latin America—up to a point.

Asian countries are strengthening trade ties with the economies of Peru, Chile, and Colombia. But with Chinese exports to the US becoming problematic, more cheap goods from China could be entering the Latin American region, “which could cause problems, especially for emerging Latin American manufacturing sectors,” Abadía warns.

The first signs of this shift emerged in April, when China reported a 21% decline in goods shipments to the US. At the same time, exports to Latin America were $43.8 billion, more than double the $21.2 billion reported in the same period in 2024. Chinese exports to Europe rose to $46 billion in April, up from $43 billion in April 2024.

The Europeans are also concerned about a flood of cheap Chinese imports. In April, European Commission President Ursula von der Leyen spoke with Chinese Premier Li Qiang about preventing a repeat of the wave of Chinese goods that washed over the EU during the first Trump presidency. There is a need for “a negotiated resolution” to the growing trade imbalance, von der Leyen warned. In an apparent olive branch to the Europeans, China lifted sanctions on several members of the European Parliament.

The European Union is also trying to broaden its trade relations elsewhere by putting finishing touches on a free trade deal with India, which it hopes to conclude by the end of this year.

“We both stand to gain from a world of cooperation and working together,” von der Leyen said when she met with Indian Prime Minister Narendra Modi in New Delhi in February to discuss the agreement. The EU is India’s largest trade partner, importing $77 billion worth of goods in 2024, eclipsing both the US and China.

Canada offers another example of diversification away from the US. While Canadian goods exports to the US fell 6.6% in March, the biggest drop since the start of the pandemic, exports to other countries rose 24.8%, driven by commodities like oil and gold, which nearly offset the loss from the US market. A big part of the export decline consisted of a decrease in automobile shipments, which now face a 25% tariff.

Not only did Canadians buy fewer US goods, but fewer Canadians chose to vacation in their neighbor to the south in response to President Trump’s comments about annexing Canada as the 51st US state. In March, the number of Canadians crossing the border by car fell 32% compared to a year earlier, according to Statistics Canada; air travel fell 13.5% in the same period.

Canada’s new prime minister, Mark Carney, visited Trump in Washington in early May, but they did not announce any progress on a trade deal.

China’s Dilemma

China has been taking steps to prepare for a trade war with the US ever since Trump’s first term, notes Andrew Polk, cofounder of Trivium China, a business consultancy in Beijing.

“They have already reordered their trade flows and will do more with Europe and Southeast Asia,” he observes. “They don’t mind the decoupling all that much; it’s only the speed with which it happened that is upsetting them.”

As noted earlier, China is quickly replacing the US as a source of agricultural products, with increased imports from Latin America, Canada, and Australia. The Chinese are keenly aware that midwestern US farm states tend to vote Republican and hope the loss of business will bring pressure to bear on the Administration.

But China is also eager to develop new markets to replace the US, which imported $438 billion worth of Chinese products last year. Soon after Trump declared “Liberation Day” in April, putting heavy tariffs not only on China but on exports from Vietnam and Cambodia, Premier Xi Jinping visited Vietnam, Malaysia, and Cambodia to demonstrate that China is a more reliable partner, signing 45 cooperation agreements covering trade, infrastructure, science and technology, and supply chains.

Southeast Asian countries are in a bind since they depend on China for investment and inputs and the US as a market for their finished goods.

The Trump Administration is attempting to crack down on the practice of transshipment, whereby partially finished Chinese goods are sent to Vietnam and Cambodia and then re-exported after minor changes. Trump announced a 45% tariff on Vietnamese products, for example, but paused it for 90 days while a trade deal is being negotiated. US imports from Vietnam in April were up 34% from a year earlier, driven by US companies frontloading orders ahead of the new tariffs.

Washington, of course, would like to isolate China economically from other Asian countries. But Rajiv Biswas, CEO of Asia-Pacific Economics, a Singaporebased consultancy, doesn’t think that policy is likely to succeed.

“China is such an important market for many countries, I don’t think any of the countries in East Asia want to choose sides,” he says, noting that while Australia is a close security partner of the US, China buys one-third of the country’s exports. “They’re very uncomfortable with the situation where they’re being asked to pick.”

Similarly, while China and Japan have their political differences, China is Japan’s largest trade partner and Japan is China’s second largest.

And when Chinese businesses suffered a virtual shutdown in trade, Beijing responded with an economic stimulus plan that included a 10-basis-point cut to the key policy interest rate, a reduction in banks’ reserve requirements—freeing up $138 billion in additional liquidity—and a mortgage rate cut to support home purchases.

Dollar’s Domination Dented

Historically, China has allowed the yuan to weaken against the dollar to blunt the impact of US tariffs. That dynamic briefly held in early 2025, when the yuan dipped to 7.33 to the dollar after Trump’s tariff plans were unveiled. But as the dollar began its own slide, the picture shifted. By later May, the yuan had appreciated to 7.20, reflecting broader pressure on the greenback.

The dollar’s decline has spurred rapid shifts in capital flows. Japanese investors—long major holders of US Treasuries—began selling off US assets and repatriating funds, driving up the yen. The Taiwan dollar surged more than 9% in two days of trading in May, its sharpest rise since 1988, as insurers and exporters moved assets back home.

One of the more surprising developments has been the strength of the euro, which gained as much as 12% against the dollar—from it’s January low—following April’s tariff announcement. Traditionally seen as too fragmented to rival the dollar’s safe-haven status, beset as it has been by budget crises in Greece, Italy, and elsewhere, the eurozone is now benefiting from both renewed investor confidence and signs of economic stabilization.

“The strength of the euro against the dollar is based on both the deterioration in the economic outlook for the US economy and the improvement in the prospects for Germany,” Jane Foley, senior FX strategist at Rabobank, said in March. “There are certainly signs of a shift away from dollar assets.”

The ripple effects are already hitting the corporate world. Multinationals reliant on a strong dollar could see earnings erode. European and Asian companies that purchase dollar-denominated commodities, like oil, are facing higher costs. And for emerging markets, the shift could reverse the 1997 Asian financial crisis dynamic. Back then, capital fled the region; today, it’s flowing in.

Currencies across Southeast Asia and surrounding markets—including in Singapore, South Korea, Malaysia, Thailand, Hong Kong, and Taiwan—are gaining momentum as investors diversify away from the US market. In a twist of economic irony, the weakening dollar may help Trump achieve one of his primary goals: a reduction in US imports.

But when it comes to exports, the forging of new trade regimes around the world may leave him knocking at the door.

Over the past year, banks embraced innovative technologies like APIs, AI tools, and mobile solutions to enhance efficiency, customer service, and risk management. Global Finance announces the 2025 Innovators from Middle East.

Regional Winners

Most Innovative Bank in Middle East| ARAB BANK

Acabes, Arab Bank’s in-house development factory, enabled the bank to launch an updated version of its Reflect banking app in 2024. Reflect benefits from a host of new digital features, including multicurrency subaccounts for deposits, savings, and payments. Customers can also use Salary Transfer and instant transfer features with these currencies. Arabi Shopix, another Acabes product, is an e-commerce website creation service.

Acabes empowered Omnify, Arab Bank’s embedded finance and open-banking platform, toward its official launch, leading to Omnify signing and/or going live with third-party providers. Omnify has solidified its position as the region’s leading one-stop shop for embedded finance and open banking, preparing for the next era of banking as a service. Partnerships with key innovators like MoXey and Menaitech have improved the platform and let partners quickly develop custom financial solutions.

Most Innovative Financial Technology Company in Middle East | GEIDEA

The first payment provider in the Middle East and North Africa region to offer instant merchant onboarding, Geidea enables businesses to start accepting payments within minutes, thanks to substantial investments in automation, AI, and digital verification.

Geidea’s instant onboarding solution is particularly significant due to the rapid growth of digital-payment adoption across the region and the increasing number of microenterprises entering the formal economy. By facilitating quick onboarding for businesses of all sizes, Geidea supports scalable growth.

Furthermore, Geidea has set a new benchmark for innovation by becoming the first fintech in the region to develop and launch its own proprietary point-of-sale terminal. This establishes a new standard for flexibility, security, and technological integration in payments. By eliminating reliance on thirdparty hardware manufacturers, Geidea has disrupted traditional payment solutions and introduced a model that empowers businesses with unprecedented control and customization.

Innovations In Finance Globally From Middle East

Cash Management Forecasting in ATMs Project | BANK MUSCAT

Oman’s Bank Muscat became the first Middle East bank to leverage AI and machine learning for predictive analytics in cash management, creating an efficient, non-manual ATM cash forecasting and replenishment process. By analyzing historical data for cash withdrawals and deposits along with external factors like seasonality and local events, the new forecasting system ensures optimal cash levels at ATMs, solving the problem of cash outs, which can be an annoyance for customers, and minimizing idle cash in the ATM, which is not ideal for the bank.

Musaed – Elevating Conversational Banking | BOUBYAN BANK

Boubyan Bank’s chatbot, Musaed—”helper” in Arabic—has undergone a series of recent enhancements. One such, Boubyan Playback, provides customers with a personalized “Year in Review” of their interactions with the bank, encouraging high customer engagement. Additionally, Boubyan has become the first bank in Kuwait to offer AI-powered recruitment assistance through Musaed’s Job Interview Service. During Boubyan’s internal job fair, Musaed streamlined the interviewing and hiring process by facilitating over 1,000 CV submissions and aiding HR in efficiently identifying potential candidates.

AI-powered Reconciliation Platform | BANQUE SAUDI FRANSI

In February, BSF partnered with Deben, a Saudi SaaS platform that automates cash flow management and generates instant reports for financial managers, to launch an innovative AI-powered reconciliation platform. As the first of its kind in both the kingdom and the region, the platform uses AI to deliver intelligent reconciliation, forecasting, anomaly detection, and real-time financial insights. Businesses can customize transaction categorization to meet their specific needs and automation streamlines processes for increased efficiency, cost savings, and an enhanced user experience.

FABeAccess Electronic Direct Debit (eDDS) API Suite| FIRST ABU DHABI BANK (FAB)

FAB’s eDDS API Suite is transforming the way businesses manage their receivables. The solution offers real-time, secure, automated collection processes while ensuring regulatory compliance. eDDS API Suite streamlines collections for billers and enhances convenience for payers through features including mandate registration, cancellation, collection requests, realtime status updates, and pre-collection reports. By eliminating manual processes and reducing administrative costs, businesses gain end-to-end visibility over their receivables. As the first API-driven electronic direct debit solution in the United Arab Emirates, eDDS API provides scalability, seamless integration with ERP systems, and a customer-centric approach.

PULSE Mobile App| MASHREQ

PULSE Mobile, a pioneering corporate banking app in the Middle East, provides relationship managers with a comprehensive, 360-degree view of client information. The innovative tool enables instant access to critical client data, transaction approvals, and call report submissions, directly from mobile devices. Additionally, the app’s news alerts feature ensures that relationship managers stay informed of key industry events, enabling them to proactively manage their portfolios and respond to market changes in real time.

QIC App| QATAR INSURANCE CO.

he QIC App is Qatar’s premier comprehensive mobile platform, delivering an array of services tailored for motorists and vehicle proprietors over a platform set up to streamline their daily routines and enhance road safety. By integrating both insurance and auxiliary non-insurance offerings, the QIC App addresses a critical issue: the disjointed and protracted procedures associated with overseeing diverse automotive requirements. Concurrently, QIC Reads operates as Qatar’s exclusive digital repository dedicated to insurance education, aiming to foster a robust culture of insurance awareness and simplify the understanding of everyday insurance needs in Qatar.

Fawran Corporate| QATAR ISLAMIC BANK

Qatar’s first Sharia-compliant, real-time corporate payment service, Fawran Corporate launched last November. The service allows instant transactions, including payroll, supplier payments, and intercompany transfers, improving liquidity and streamlining operations. Adherence to Sharia principles fosters trust and expands the service’s reach within the Islamic finance sector. Fawran Corporate marks a major milestone in Qatar’s financial development, promoting innovation, efficiency, and inclusivity.

RAK Telemetry (Real Time Dashboard)| RAKBANK

RAK Telemetry, a groundbreaking suite of 32 real-time and near real-time dashboards, offers a centralized platform to track and monitor essential business processes, integrating key data points and metrics to provide a comprehensive overview of onboarding journeys, service requests, transactions, and IT tickets status. By eliminating the need for multiple, disjointed tracking systems and manual data correlation, RAK Telemetry streamlines operations, enhances decision-making, and boosts overall efficiency. Businesses can leverage the tool to gain valuable insights into customer behavior, market trends, and operational performance, enabling them to respond swiftly to changing conditions and optimize their strategies.