NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The 5th Annual Middle East Banking Innovation Summit (MEBIS) will take place on 14 & 15 September 2015 at Sofitel Dubai The Palm Resort & Spa. As the foremost banking technology event in the GCC, the summit’s 2014 edition was attended by over 400 Senior Executives, IT experts, retail banking specialists and senior finance professionals interested in keeping themselves abreast of innovative developments in technology specifically for the Middle East’s banking and finance sector. The UAE’s overarching commitment to sustained economic, financial and social development has led to a tremendous boom in innovation in general. With the Expo 2020 well poised to be the event holding the world’s attention, innovation has become the focal point like never before. It is of special importance in the banking and finance industry, where it can function as the backbone of any plan for economic development. And what of the banking and finance industry in terms of IT innovation? It’s on an upward swing, with industry estimates indicating that banking and securities companies in the Middle East and North Africa spent approximately $12.8 billion on IT products and services in 2014, an increase of 2.7 percent over 2013 revenue of nearly $12.5 billion. Other trends indicate that banks in the Gulf are investing in robust externally developed software to transform their legacy systems to keep up with the rapid pace of the modern technologically-driven market. The 5th Annual Middle East Banking Innovation Summit is the leading platform to know about the latest trends in banking innovation, discuss global best practices and network with key industry influencers and decision makers to restructure traditional banking systems using cutting edge technology.