Summit discusses digital revolution and its impact on businesses

KUWAIT: Digital revolution and its impact on businesses in the region was the topic of discussion at the Digital Innovation Summit organized by HSBC Kuwait for its corporate and wholesale clients on Tuesday.

In his opening remarks, Roger Winfield, Chief Executive Officer, HSBC Kuwait said: "The digital revolution has changed the way we live and work. It is impacting how people and businesses pay for services and it is shifting supply chain economics especially in trade and receivables finance. E-Commerce, social media, cloud technology, Artificial Intelligence and other digital innovations are completely reshaping the business landscape."

HSBC's leaders, external experts and clients exchanged ideas and views on digital innovation and how it is transforming next generation treasury, driving efficiencies in cash management, revolutionizing customer experience and reforming trade.

"HSBC's mission is to be where the growth is, connecting customers to opportunities. Our origins in the Middle East date back to 1889 when railways and the emergence of telegraphic communications were driving economic development in the region. We are here in the 21st Century, supporting digitally-driven economic transformation agendas that give life to new markets, new cities and new economic ecosystems. Our heritage and long-term commitment to the region provides a unique perspective to help our customers thrive amid change in the digital era."

"We have made significant progress across a number of digital initiatives spanning trade finance, payments, channels, account management and security to make our clients' experience of banking with us even better," Winfield added.

In June 2018, HSBC announced an ambition to invest $15-17 billion in growth and technology globally over three years.