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Technology innovations boost GCC retail growth

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Technology innovations, such state-of-the-art live events, virtual shopping screens, and 3D sound environments, are catalyzing the GCC’s retail growth to hit a record high of USD 313 billion by 2021, industry experts announced today.

Over the next four years, the GCC’s retail sector will grow by 25 percent to USD 313 billion, according to a recent Alpen Capital report. As malls rise and expand across the region — such as City Centre Al Jazira in Abu Dhabi, the Mall of Saudi in Riyadh, and the Mall of Oman in Muscat — retailers are investing in audiovisual technology to transform the in-store experience.

“Audiovisual innovations are the biggest game changers for transforming the atmospheric and spatial qualities for GCC Smart Cities and smart interiors. In interior design intangible material such as lighting, music, acoustics, and visual technology can combine to transform the identity of a place and its experience” said Dr Dolli Daou, Director, Association of Professional Interior Designers in the UAE, on the sidelines of today’s opening of InfoComm Middle East and Africa (MEA), the region’s largest professional audiovisual event.

“To drive success, GCC mega-project developers need to integrate audiovisual experts with interior designers from the beginning of the design process in order to provide customers and end-users with the right information and experience, which in turn will drive new revenue streams and design innovations,” added Dr Dolli Daou.
InfoComm MEA, being held under the theme of “See the Future of Networked Communications,” is set to host more than 100 exhibitors from 20 countries.

Showing the strong regional growth, the Middle East and Africa spend on professional audiovisual solutions will grow to USD 12 billion by 2022, according to a new report by the professional audiovisual industry association AVIXA, co-organizers of InfoComm MEA 2017.

As malls transform into shopping destinations, live events – from concerts to promotions – are increasingly central for malls to differentiate themselves from the e-commerce experience.
“GCC malls are no longer only about shopping – with mall operators and retailers transforming malls into entertainment destinations. Professional audio solutions are central to having effective live mall events and celebrations, interactive promotional signage, and setting the atmosphere in shops and venues,” said Hans J van den Berg, CEO, AudiCom Middle East and Africa.

Dubai-based AudiCom Middle East and Africa is a leading manufacturer and distributor of audiovisual systems such as mounting systems, LCD panels, and projection screens.
High-resolution LED displays can host mall wayfinding, advertisements, and product testing.

“LED displays are the fastest-growing technology in retail across the globe, and GCC retailers can grab the attention of passers-by, immerse shoppers in different environments, and showcase the latest products and services. SiliconCore LED displays lead the market in energy efficiency and fast response time, which creates a brilliant picture quality for retail brands, said Jim Wickenhiser, Senior Vice President of Strategic Initiatives at SiliconCore.

SiliconCore is one of the world’s leading manufacturers of cutting-edge LED displays and laser diode controls. At InfoComm MEA, SiliconCore is exhibiting its new Peony 2.6 mm and Magnolia 1.5 mm displays, LISA narrow pixel pitch platform, and ZACH driver chip for dynamic range and color, and exchanging best practices from retailers such as Nike Town New York.
Increasingly, GCC retailers are experimenting with in-store audio and music for enhancing the shopping experience in a 3D sound environment.

“Having the right music or audio in the right parts of the store at the right time can increase customer dwell time, purchasing choices, and sales. GCC retailers are also playing the right music to match their own brand values, and to make employees happier. Robust audio is also the foundation for successful live mall events,” said Jose dos Santos, Senior Manager of Professional Audio at Thomsun, which will showcase innovative Yamaha audio solutions.
Attendees can exchange information on latest trends and best practices during the InfoComm MEA Summit.

The 7th InfoComm MEA is running from 5-7 December 2017 at the Dubai World Trade Centre. For more information and to register for free, visit www.infocomm-mea.com.

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THIRD EDITION OF BENTLEY’S EXTRAORDINARY WOMEN INITIATIVE WELCOMES STUDENTS FROM THE UK AND QATAR TO CREWE

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Extraordinary Women

The third edition of Bentley Motors’ Extraordinary Women initiative has concluded with students from universities in the UK and Qatar spending a week at the luxury car brand’s headquarters in Crewe, England. As part of a specially designed schedule, they met with Bentley experts and executives, went behind the scenes of its manufacturing operations, and tackled individual tasks.

Designed to encourage and develop the next generation of young female leaders, the 2024 edition of the Extraordinary Women programme has seen the students receive one-on-one mentorship over the past three months from a selection of inspirational Pioneers from the fields of technology, engineering, design, and business.

The students, who passed through a structured selection process focused around these four specific fields, came from a variety of participating universities: including The University of Doha for Science and Technology in Qatar, and the Universities of Bath, Loughborough, and Manchester Metropolitan in the UK.

Noora Al-Hajri, University of Doha for Science & Technology student, commented, “This experience has been nothing short of life-changing. Through the programme, I have gained invaluable knowledge and skills that will significantly impact my personal and professional growth. The opportunity to learn from inspiring mentors in both Qatar and the UK has been particularly enriching. Their guidance has broadened my horizons, challenged me to think critically, and empowered me to pursue my dreams with renewed confidence. The opportunity to visit the Bentley headquarters at the end of the programme has also been truly awe-inspiring. Thank you, Bentley, for believing in us and for creating such a transformative programme.”

The Pioneers were equally carefully selected. In the UK, entrepreneur Sara Davies MBE, founder and owner of Crafter’s Companion and TV personality from BBC One show Dragons’ Den, provided business mentorship, with Cecilia Harvey, founder of Tech Woman Today, offering the same in the field of technology.

Titi Oliyide CEng MIET, Senior Process Safety Engineer and winner of the 2023 Young Woman Engineer of the Year, mentored the engineering student, and renowned interior designer and Founder of Studioilse, Ilse Crawford provided design support.

The four Qatari Pioneers included Qatar’s UNESCO art ambassador, Muna Al-Bader, in the field of design. Dr Noora Fetais Al Marri, honoured by the Arab Women of the Year 2024 awards for her contributions to cyber security. Education and founding President of the Arab Association for Cyber Security, offered technology mentorship.

Covering the field of engineering was Dr. Hanan Farhat, founder of the Qatar Association for Women Engineers, and Dr. Buthaina Al Ansari in the field of business, who is a senior advisor at the organisation that established Tamkeen Training and Consulting Solutions.

Member of the Board for Human Resources at Bentley Motors, Dr. Karen Lange, commented, “With every year, the Extraordinary Women programme grows stronger, as exemplified by the quality of this year’s Pioneers, all who have generously given their time in the spirit of collaboration as we seek to build a legacy for young women. It has been a great honour to meet and engage with such talented young women during their visit – witnessing their energy and ability fills me with great optimism for the future.”

Launched in the UK and Middle East in 2022, the Extraordinary Women initiative has previously engaged students and Pioneers from the United Arab Emirates, Saudi Arabia, and the United Kingdom. It forms part of Bentley’s wider commitment to diversity, equity, and inclusion under its Beyond100 strategy, and was created to encourage women to explore a variety of career paths in the STEM and automotive sectors.

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Financial

Reem Finance signs with Network International to accelerate digital transformation

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Network International (Network) has announced the signing of a strategic partnership with Reem Finance, the leading financial services provider in the UAE. The strategic alliance aims to leverage Network’s expertise to provide a fully-fledged payment processing solution to support the digital transition.

The partnership with Network complements Reem Finance’s focus on offering customers with a unique banking experience in tune with the digital age. The scope of services includes a comprehensive range of products and services from transaction processing, card hosting and management, as well as value-added services. As the region’s largest payment solutions company, Network is committed to supporting the UAE financial services sector by providing innovative solutions to customers and enhancing the experience of consumers.

Navneet Dave, Managing Director & Co-Head of Processing – Middle East at Network International, commented, “We are thrilled to partner with Reem Finance as we jointly deliver innovative digital payment solutions that offer an effortless and secure experience for customers. Our collaboration builds on Network’s three decades of experience and expertise in creating world-class digital payments infrastructure and services for clients. It underscores Network’s commitment to empowering our partners with cutting-edge processing services and value-added solutions and driving growth in the UAE financial services industry.”

Mr. Seraj Faidi, CEO of Reem Finance,said: “As part of our ongoing commitment to enhancing the quality of our products and services for our esteemed clients, and in light of our recent collaborations with prominent service providers and partners, we are delighted to partner with Network International to explore innovative paths to accelerate digitizing our services to better serve our customers. This engagement is an important step for Reem Finance in expanding our capabilities to provide top tier, friendly and easy to use services to our customers. We are confident that with Network International, the processing of card transactions related to both consumer and commercial sectors will be state-of-the-art and seamless. We are committed to playing a vital role in elevating the financial system in the UAE, delivering value to our shareholders, and prioritizing the needs of our clients.”

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Financial

Wio Bank Redefines SME Banking with New Embedded Finance

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Wio Bank PJSC is introducing a new embedded finance service designed especially for the UAE’s small and medium-sized enterprises (SMEs). This initiative includes strategic partnerships with leading accounting software platforms Zoho Books, Fiskl and Wafeq, aiming to embed banking services into daily business operations and simplify financial management.

Wio Business, the bank’s first digital banking application, caters to micro, small, and medium enterprises (MSMEs), as well as freelancers and entrepreneurs. By directly integrating with accounting and financial management systems through APIs, Wio Business facilitates seamless financial workflows, enhancing management and eliminating the need for third-party intermediaries. This integration automates bookkeeping, significantly reducing manual labor and allowing businesses to concentrate on their core activities.

Jayesh Patel, Chief Executive Officer of Wio Bank PJSC, shares his vision for the new service: “By adopting Embedded Finance, we are transforming how businesses manage their finances. Our direct integration initiative simplifies how financial services are delivered and managed, making it easier and more transparent for SMEs.”

With over 94% of UAE businesses categorized as SMEs and significant contributors to employment, Wio Bank’s new service is tailored to meet a vital market need. This initiative, along with its strategic partners, is designed to simplify business operations, allowing them to thrive by focusing on growth rather than administrative financial tasks.

A New Era of Financial Management

Through Wio Business, companies can now link their accounts with selected software platforms such as Zoho Books, Fiskl, and Wafeq, offering a holistic view of their financial health. This integration eliminates the dependency on third-party intermediaries, simplifies financial workflows, ensures real-time financial insights with automatic updates, and streamlines accounting tasks with features like auto-reconciliation of bank statement. Additionally, integrating Wio Business APIs into Corporate ERPs and payment platforms facilitates automated account payables and instant transaction reconciliation, thus reducing manual labor and errors, and enhancing cost efficiency and operational gains.

Wio Bank was established to redefine banking in the UAE for both businesses and consumers. Its second digital offering, Wio Personal, is a day-to-day banking platform that changes how individuals see, manage, and grow their money. It provides users with unprecedented financial visibility and flexibility, serving as a foundation for achieving personal financial goals with an engaging experience that includes smart cards and exciting rewards.

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