Financial News
The Balancing Act of Financial Organizations to Compete in a Technology-Driven World
Written by: Ricardo Ferreira, EMEA Field CISO, Fortinet
Digital acceleration is impacting how we work, live, and consume services. In addition, the digital evolution of Financial Services Organizations (FSOs) raises essential questions about the future of banking. One looming concern is how FSOs will compete against fintechs, including addressing the need for innovation to improve customer experience.
Adapt to changing times
The top three strategic areas outlined in the IDC Infobrief, sponsored by Fortinet, “Accelerating Transformation Through Cybersecurity in Financial Services,” highlight the core priorities for financial institutions: Trust, Security, and Resilience. So, the question is, how can FSOs lead and win through innovation while ensuring that risks do not overwhelm a traditionally risk-averse industry?
Many FSOs have begun adopting new digital business models to help them thrive in a digital-first economy. These include prioritizing investments in key areas such as data-driven security, legacy modernization, and personalized and contextual customer experiences. But for these business models to work, they will need to rely on data, analytics, and cloud platforms.
So, when we ask, “what does success look like for the future-ready bank?” we see three major themes:
- Automation and cost reduction: Automation, managed services, and cloud platforms will enable FSOs to innovate faster. Automation allows business units to integrate with the rest of the organization, build self-service, and reduce manual labor costs, such as adopting Robotic Process Automation and artificial intelligence-powered chatbots to deal with insurance claims. In investment banking, robot advisors use machine learning-powered algorithms to help retail investors make better decisions. Thanks to cloud platforms and managed services, these new products and services are economically feasible because they shift traditional CapEx to activities that create more value.
- Customer intelligence and centricity: New platforms provide data and analytics for anticipating customer needs and hyper-personalizing the customer journey. Customer data, such as investment patterns, can guide a robot advisor to recommend portfolio choices aligned to customer preference. Similarly, natural language processing can help an AI system quickly assess a customer’s issue to redirect them to the nearest branch or get the appropriate representative involved.
- New value propositions: Open banking was a massive change for banks, helping them realize the power of APIs. Building Banking as a Service (BaaS) has allowed them to develop new services and create stronger partnerships.
But what about the customer experience?
Who is not irked when reminded of their first troubled mobile banking experience, with terrible UX and lack of integration? It’s why, when some fintechs launched their online mobile banking, it was a beacon of light in a dark room. A real-world security example that everyone might remember was the usage of biometrics for accessing online mobile banking. Big brands took a long time to adopt it, and while it might seem trivial from a UX perspective, it’s leaps and bounds towards progress.
Today, traditional brands regularly launch products that emulate offerings from nimbler fintech organizations. The lesson is clear: to gain a competitive advantage, banks must focus on creating a fast, intuitive, and seamless customer experience.
Are clouds grey in banking?
These business models require the accelerated consumption of new platforms, such as cloud computing. Financial organizations must understand they can create differentiated value and increase competitiveness by using the cloud to increase their speed of innovation and accelerate the go-to-market of new services and products.
Cloud platforms also serve as a bridge to modernize financial organization workloads. CIOs want to migrate workloads cohesively while ensuring the capabilities from their on-prem solutions are still available. Major Cloud Service Providers (CSPs) have jumped at the opportunity to integrate their environments into the same control plane.
Yes, but isn’t that risky?
Regulators have flagged the concentration risk. For example, the Bank of England has highlighted it in their stability reports. The latest Financial Conduct Authority (FCA) PS21/3 rules address third-party risk and operational resilience. And the European Union has gone a big step beyond with its Digital Operational Resilience Act (DORA).
All these activities and proposals are designed to address these concerns. The European Systemic Risk Board has flagged cyber as a systemic risk to the European financial system due to the increase in cyberattacks—especially in the financial industry, which is 300 times more likely to be the target of cyberattacks. The International Monetary Fund (IMF) emphasizes that cyber events propagate risk through the entire financial system via three broad transmission channels: risk concentration, risk contagion, and erosion of confidence.
That is why cybersecurity is a priority as part of the EU’s “Europe fit for the digital decade” policy program. Programs such as EU-HYBNET, ACCORDION, and DORA for financial services ensure Europe works as a single entity by harmonizing requirements to increase resilience and protect citizens.
What can financial organizations do about it?
To start, security needs to be woven into transformation efforts to ensure that innovation and transformation are conducted securely. For this to work, security must be included from a project’s inception, not as a bolt-on after a project and its services are launched.
What about protecting financial assets?
55% of European financial organizations already use some form of zero-trust strategy for their authorization and authentication. Zero-trust shifts the traditional paradigm from the implicit trust for users and resources inside a static, network-based perimeter to an authentication model that focuses on users, assets, and resources. Zero-trust requires authentication and authorization to be performed every time access is granted to a specific resource.
How do we address the ‘weakest link’ problem?
While people are an organization’s most critical asset, they are also the primary source of data breaches and network compromise. Organizations must be prepared for a loss of control if their workforce is not educated on cyber awareness. Some large financial organizations have created partnerships with e-learning portals and vendors to provide tailored courses using nudges and financial instruments to reskill the workforce with new technologies. Similarly, financial organizations must plan to mitigate the rampant cybersecurity skills shortage, which will impact 90% of organizations by 2025, resulting in delays in the transformational journey.
What can we do?
Digital acceleration is essential for competing in today’s financial marketplace. However, it doesn’t come without risk. First, ensure employees are trained and reskilled in the organization’s technologies. Second, share data with industry peers to learn best practices and identify potential issues. Transaction Monitoring Netherlands (TMNL) is an excellent example of transaction data sharing to mitigate Anti-Money Laundering (AML).
Finally, work with vendors and partners committed to cross-vendor openness and integration. When vendors work together across the threat landscape, the sum of their products is greater than the individual parts, deepening your level of cyber protection.
Financial
Vintage Vaults: Dubai’s Premium Safe Deposit Box Facility at Mall of the Emirates
As UAE residents prepare for summer holidays, international travel and seasonal relocation, Vintage Vaults, Dubai’s premium safe deposit box facility at Mall of the Emirates, is highlighting the importance of secure private vault storage for valuables, documents and high-value personal assets.
From jewellery and luxury watches to family heirlooms, legal documents, precious metals and collectibles, extended periods away from home can heighten concerns around security, accessibility and long-term protection. For residents, expatriates, investors and frequent travellers, secure storage during travel in the UAE has become an increasingly important part of responsible asset protection.
Vintage Vaults provides private safe deposit box rental in Dubai for individuals, families, collectors and business owners seeking a modern, discreet and service-led alternative to conventional safety deposit boxes. Combining advanced security infrastructure with premium client experience, the facility has been designed for clients who value privacy, convenience and peace of mind.
Located within Mall of the Emirates, Vintage Vaults offers client access during mall operating hours, 365 days a year. The facility operates within a 24/7 monitored security environment supported by UL-certified vault infrastructure, biometric authentication, controlled access systems, AI-powered surveillance, CCTV monitoring, motion detection technology and advanced alarm systems. It is also directly connected to Dubai Police and SIRA-linked monitoring systems, further strengthening its security framework.
Clients can choose from seven safe deposit box sizes ranging from XXS to XXL, accommodating a wide variety of assets including jewellery, watches, gold, cash, legal documentation, family archives, artwork and collectibles. Every box comes with complimentary insurance coverage, with protection of up to AED 2 million depending on the selected membership tier.
“Dubai has become home to a growing number of individuals and families who have accumulated significant personal and financial assets over the years,” said Sherif El Haddad, Founder and CEO of Vintage Vaults. “At the same time, we are seeing greater mobility, with people travelling more frequently, spending extended periods abroad, relocating between countries or managing assets across multiple markets. Accordingly, secure storage is becoming an essential part of responsible asset management, particularly during periods when people are away from home.”

Vintage Vaults offers three membership categories — Silver, Gold and Black — providing varying levels of insurance coverage, security features, box access nominees and premium services. Clients also benefit from private consultation and access rooms designed to maintain discretion, alongside a multilingual team trained in security, privacy, client service and asset protection.
For clients requiring additional support, the facility offers premium services including chauffeur arrangements, armoured transportation and bodyguard assistance, creating a comprehensive asset protection ecosystem tailored to high-value holdings.
According to Imran Shoukat Khan, Co-founder and Managing Partner of Vintage Vaults, demand for private vault services is being driven by a broader shift in how residents and expatriates think about protecting their assets.
“Today’s clients expect more than storage. They want confidence that their valuables are protected by robust infrastructure, supported by technology and managed with complete client discretion,” said Imran. “Whether someone is travelling for several weeks, relocating internationally or safeguarding assets for future generations, secure private vault facilities provide essential storage with , protection against theft, damage or loss along with peace of mind.”
The summer season presents a timely opportunity for UAE residents and expats to review how their valuable possessions are stored and protected. For many, a safe deposit box in Dubai offers a practical solution for securing jewellery collections, investment-grade precious metals, luxury watches, important family documents and sentimental heirlooms before extended travel or temporary relocation.
As one of the few independent private safe deposit box operators in the UAE not affiliated with a bank, Vintage Vaults offers a level of discretion, flexibility and service that traditional banking institutions may not provide. By combining advanced security standards, complimentary insurance coverage, flexible storage options and premium client services, Vintage Vaults continues to provide a trusted destination for clients seeking long-term asset protection in one of the world’s most dynamic wealth centres.
Financial
Standard Chartered H2 2026 Global Market Outlook: Navigating Shifting Sands
Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.
The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.
For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.
Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.
Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.
Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.
While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.
In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.

Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”
Financial
STANDARD CHARTERED H2 2026 GLOBAL MARKET OUTLOOK: NAVIGATING SHIFTING SANDS
Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.
The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.
For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.
Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.
Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.
Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.
While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.
In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.
Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”
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