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Al-Nisf: Boubyan Bank supports improving the use of data in digital economy

WorldAl-Nisf: Boubyan Bank supports improving the use of data in digital economy

Kuwait: Boubyan Bank organized the first meeting of its kind in Kuwait to exchange ideas in spreading the culture of data, hosting the specialist in the field of data management in major international companies, Abdullah Al-Attal, to discuss a set of the most prominent themes about the importance of data management, its systems and challenges, and best practices for data management within any organization.

The meeting was held in the presence of members of the executive management, who expressed their happiness with his attendance, as it is a stepping stone towards a new strategy for the bank in order to promote a culture of building data-supported readings and to learn about the challenges and experiences of major international companies and benefit from them to transfer them to the banking business.

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The head of the data group at the bank, Abdullah Al-Nisf, said that data management had become an imperative today, on the basis of which the founding system for collecting and analyzing large volumes of data in any institution, especially with the rapid development of big data and artificial intelligence.

Al-Nisf explained that the idea of “Data Talk” came to confirm the role played by “Boubyan” to support and enhance the concept of improving the use of data in the digital economy and its central and important role and to show its importance in opening the door for discussion and exchanging questions and experiences with experts in the same field, thus enhancing capabilities in The world of data to keep pace with its rapid growth and current development.

He added that the meeting witnessed a set of points and axes centered on how to effectively manage data, and its role in helping the work team to take appropriate decisions, and sound strategic planning that would spare the organization from falling into risks, especially if the management was incorrect from the beginning, which It leads to false results that affect the quality of service.

In a related context, the Director of Data Culture and Capabilities at the bank, Khaled Al-Sayer, said that hosting Al-Attal to share his well-known experience working in the field of data in major companies such as “Amazon” and “Meta” (Facebook) in “Data Talk” is an addition to data management practices. In Boubyan, it enables him to study the challenges and major experiences faced by international companies, and how to benefit from them in many areas, most notably improving the decision-making process.

Al-Sayer added that with the rapid development of the digital banking environment, there is an urgent need to find ways to ensure the convenience of the bank’s customers, in addition to benefiting from global expertise to keep pace with banking developments in various aspects.

For his part, Al-Attal thanked the Boubyan management for providing the opportunity to participate in such a meeting, given its importance due to the need to highlight the importance of data, as a main reason for achieving real growth and the success of long-term strategies for enterprises.

Al-Attal touched on some ideas and experiences that demonstrated the great role of data, addressing some examples that confirm this trend, such as the decline of some major American companies in performance, because they did not rely primarily on the formation of an integrated base of data.

He added that the companies that basically adopted and believed in the necessity of establishing a data management and the necessity of using human resources with expertise in this field, have achieved successes at high levels of performance and the expansion of their customer base and operations in the market, which is one of the most important criteria for measuring the success of any organization.

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