Professor Fiona Robson,

Head of the School of Social Sciences & Edinburgh Business School

HR is no longer just about recruitment and retention – there is a growing trend towards taking a more creative and innovative approach. This can involve looking at talent through different lenses rather than seeing it as a hierarchical talent management process focusing on vertical promotions within the organization.

In an age where HR rightly have a seat at the strategic table for decision making, they have the opportunity to ensure that appropriate levels of funding and expertise are used to develop a forward-looking talent strategy that goes beyond the norm. Artificial intelligence (AI) brings a plethora of opportunities for organisations to be braver in how they identify potential talent. Using AI to identify talent can be a useful starting point but when it comes to areas such as innovation and identifying an entrepreneurial mindset, it may be more difficult to pinpoint the traits which could indicate potential to innovate.

Where HR teams start to consider and plot non-traditional pathways they may be able to recruit and retain employees with diverse skillsets. Taking an entrepreneurial path opens up the talent pool as it isn’t as focused on people looking at the next hierarchical step up within the organisation. This is important as there are usually resource constraints about how many vacancies are available to fill at the highest pay grades in the organisation. These new pathways should provide opportunities for women to shine in different types of projects and recognise the strategic importance of creative thinking and innovation.

Providing testing opportunities

Depending on the level of finance available there are some additional resources that could be provided. Innovation sprints or challenges can be a great way to test out ideas and receive feedback from different groups of stakeholders. They may facilitate prototyping and identify issues that were not previously considered. Internal technology venture labs can also provide a safe environment to test out ideas and proof of concept. Collaborating with Universities who are experienced in running labs and sprints can be very beneficial, they may also have access to funding to support the development of new products and services. However, in order to be truly successful, they need to ensure that there is a sustainable follow up process before the momentum deflates.

Inclusive Procurement and Equitable IP Policies

Organisations can seek to lead the way and exhibit good practice by reviewing their procurement policies where practicable to ensure that they are inclusive. Examples may include having provision for flexible payment terms which would make it easier for those at the beginning of their entrepreneurship journey. Access to specialist support which could help women to set up their businesses in a more timely way could also break down some of the perceived barriers. Often the processes around procurement can be rather cumbersome so the provision of training which shows exactly how to navigate it could be helpful. Forward looking organisations might seek to approve a process whereby women entrepreneurs are given priority with their applications.

For many women, even thinking about intellectual property (IP) and patents can seem overwhelming if they have never had exposure to this world before. The introduction of simplified processes could act as a springboard to attract more women, particularly if the timeline can be expedited so that there is a shorter gap between the initial idea and when it is approved. Having access to real case studies showing how this happens would also be reassuring. In large organisations, the HR team may be able to encourage the legal team to provide some initial advice so that prospective entrepreneurs get a realistic insight into whether their proposal has merit or not.

Commercial Advantage Through Policy

HR can make a name for itself by encouraging innovation through widening participation and breaking down barriers to encourage, support and recognise innovation. For some HR professionals this may be quite a shift for them so they may also require some reskilling and retraining.

It would be good practice for organisations to regularly review their HR policies to ensure that they reflect the changing eco-system and that there are appropriate diversity clauses within the library of policies, procedures and practices. As part of this, ensuring that there is awareness of bias and how this can sneak into processes unconsciously and inadvertently disadvantage women. The establishment of women’s networks would be a proactive approach and could help them at all of the different stages of developing and executing their entrepreneurial ideas.

Providing funding opportunities may be one of the most impactful decisions that an organisation can make. Obviously this would need to have transparent parameters around it but it could be the difference between an idea being turned into practice or not. If the funding allocation is governed by stakeholders with appropriate expertise in different areas i.e. finance, law, governance and people, this would reduce the organisational risk of investing in small new businesses. Where there isn’t a potential conflict of interest, organisations could also make a significant impact by facilitating market entry and opening doors within networks and supply chains.

Funding or access to capital has significantly hindered the growth of start-ups and micro, small and medium enterprises (MSMEs) in the UAE. Funding Possibilities is a sought-after platform for both seekers and providers of capital, providing access to various forms of capital beyond equity, including traditional debt, alternative and structured finance. It aims to make private markets more accessible and transparent.

It seeks to give retail investors access to start-ups and enable retail investors to contribute to the overall start-up ecosystem and new-age businesses.

Funding Possibilities is a sector and stage agnostic platform aiming to build more than ten profitable unicorns, i.e., Profi-Corns, in the coming decade.

The launch of Funding Possibilities comes barely three weeks after the launch of the Dubai Economic Agenda ‘D33’ by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, that includes 100 transformative projects, with economic targets of Dh32 trillion over the next ten years, doubling its foreign trade to reach Dh25.6 trillion and adding 400 cities as key trading partners over the next decade. More than 400,000 SMEs operate. They represent more than 60 per cent of the UAE’s non-oil economy and provide employment opportunities for 86 per cent of the workforce in the private sector, the Khalifa Fund for Enterprise Development reports.

“Dubai will rank as one of the top four global financial centres with an increase in FDI to over Dh650 billion over the next decade and an annual Dh100 billion contribution from digital transformation. Over 300,000 global investors in Dubai today are helping build Dubai into the fastest growing global city,” HH Sheikh Mohammed Bin Rashid Al Maktoum said in a statement.

Dubai is home to more than 10,000 small and medium start-ups. Funding is crucial for the success of start-ups as well as MSMEs. Funding Possibilities would play a significant role in helping start-ups and new-age businesses to grow and become profitable unicorns, i.e. Profi-Corns in future. This will help these businesses play an essential role in realizing Dubai Government’s D33 Vision.

Sheetal Soni, CA, CFA Charter Holder and Founder of Funding Possibilities, says, “Increasing funding options is necessary for the UAE’s small businesses and start-ups. Funding Possibilities is set to fill a clear gap in the start-up and MSME space providing quality funding channels for them to grow and fuel the growth of the UAE economy.

“The launch of Funding Possibilities is well timed with the announcement of D33 – which will accelerate the growth of the economy of Dubai and the UAE in the next decade. It will bring investors closer to the start-ups for multi-stage funding and provide small businesses with the working capital requirement.”

Start-ups across the Middle East, Africa, Pakistan and Turkey raised $7.2 billion through 1,473 deals. Last year, despite macroeconomic and geopolitical uncertainty, according to a report by data platform Magnitt. With Funding Possibilities, this number will multiply to help thousands of start-ups in the early stage of incubation.

The Funding Possibilities comprise highly-qualified chartered accountants, certified public accountant professionals, tech geek, and serial business entrepreneurs.

Prateek Toshniwal, CA and Co-Founder of Funding Possibilities, says, “We will serve the business community with curated deals to suit their needs, ease informed investment through a four-dimensional due diligence process, provide ease of exits and need-based relevant information at the user’s palm.

“In a nutshell, we want to build a community of start-ups, investors, bankers, alternative finance providers, wealth managers, private equities, family offices, venture capitalists and all other private institutional players.

“We will create a knowledge and resource bank for start-ups, create an eco-system to find the right co-founders, help them in ease of capital raise through various sources of capital, handhold at various stages of their journey from incubation to profitable unicorns.”

From chef jackets to medical scrubs, the company is committed to producing high-quality, comfortable clothing for a variety of front-line occupations. With more than two decades in operation, it also has a stake in the region’s huge home textile industry as a manufacturer of bed linens and towels.

Eyeing expansion, the company sought a lender that could bridge the gap in working capital they faced so they could fulfill existing orders smoothly and capitalize on future growth opportunities. Having evaluated the financing options available to them, they chose Tradewind Finance, known for funding SMEs worldwide, as their preferred financial partner. Lower rates, an international presence, and a flexible approach to financing made Tradewind stand out among other financiers.

Rather than waiting on payment from their customers, the company used Tradewind’s factoring services to monetize their accounts receivable and quickly unlock the capital tied up in them. They secured the liquidity needed to scale their business by converting their receivables into immediate cash. The export factoring facility was structured in dual currencies, USD and Euro.

“We are happy that Tradewind’s tailor-made financing was the right fit for our client. Using our solutions, the client will be able to build a business with existing customers as well as new ones in international markets,” said Soheil Zali, Regional Commercial Director and Board of Director at Tradewind Middle East Limited.

In addition to its headquarters in Germany, Tradewind Finance has offices in Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, India, Pakistan, Peru, Turkey, United Arab Emirates, and the United States. By combining financing, credit protection, and collections, Tradewind offers streamlined, flexible, and best-in-class services to exporters and importers around the globe.

How well do you think small and medium enterprises (SMEs) and large enterprises are supported by UAE banks? Differentiate CBD from the rest?

SMEs are the backbone of the UAE economy, accounting for around 94% of businesses in the country. In recent years, the UAE government has implemented several policies to boost economic growth by enabling businesses and entrepreneurs and increasing their contribution to the economy.

The financial services industry is crucial in helping SMEs navigate a challenging climate. In line with the UAE Government’s focus on SMEs, banks are supporting SMEs by striving to understand their businesses and developing products and services that suit their needs and minimize risk.

Othman Ibrahim Bin Hendi, Chief Customer Officer, CBD

As one of the UAE’s first and most reputed banks, CBD has always differentiated itself from the other competitors by being a bank focused on family-owned and managed businesses across the Emirates in the UAE. Over the years, it has supported numerous SMEs that have later grown with us to become large corporates.

Further, we have partnered with several government entities such as the Dubai Economic Department and Free zones, such as JAFZA, DMCC, DCAA, EFZA, Meydan, and RAKEZ to offer a full suite of products that are specially tailored for the SME segment to fulfill their business requirements and back their ambitions.

With the “Best Technological Innovation in Financial Services” award, CBD has been recognized at Seamless 2022. What innovation did make CBD achieve the award?

The “Best Technological Innovation in Financial Services” award was presented to CBD for its CBD Investr app, which is the first robo-advisory investment solution in the region offered by a bank. The innovative investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.

Through the CBD Investr app, customers can conveniently access a globally diversified and personalized portfolio of stocks, bonds, and other asset classes using low-cost exchange-traded funds (ETFs) aligned to investors’ risk profiles.

The app offers customers the option of robo-advisory portfolios or investing on their own through the self-investor option. Robo advisory portfolios are managed by smart algorithms to deliver optimal performance without customers needing to manage and track the markets. The self-investor option allows customers to buy and sell their preferred shares and ETFs in real-time, thus providing a more personal and customized experience.

Tell us about the recent global achievement of CBD of getting included in the Forbes List of the World’s Best Banks 2022

CBD has been named the number one bank in the UAE on the Forbes list of the World’s Best Banks 2022, based on key customer satisfaction metrics including trust, fees, digital services, and financial advice.

The Forbes fourth annual ‘World’s Best Banks’ report, published in conjunction with market research firm Statista, surveyed more than 45,000 customers across 27 countries around the globe for their opinions on their current and former banking relationships.

This global recognition is an affirmation of our customers’ trust in us to back their ambitions, and it also proves the success of our customer-centric strategy.

Elaborate on the performance indicators of the Commercial Bank of Dubai (CBD) and, as one of the longest-established banks, what role does it aim to play in 2022 and beyond?

The bank has delivered a net profit of AED 866 million for the first half of 2022, up 28.1% compared to the first half of 2021. Higher revenue across net interest and other operating income generated a strong increase in net profit. Market interest rates have risen, and solid loan growth resulted in higher revenue in the first half. Whilst the global macro-economic environment is challenging, the outlook for the UAE economy remains positive. The solid return on equity generated internal capital for growth while the bank’s liquidity position remained robust with the advances to stable resources ratio at 89.35% as of 30 June 2022. All capital ratios were well above the minimum regulatory thresholds mandated by the UAE Central Bank.

In 2022, we will continue to be instrumental in driving digital transformation and investing in enhancing technological capability to provide our customers with a best-in-class banking experience. For the first half of 2022, 98% of our wholesale banking transactions were initiated digitally, and we achieved a 102% increase in mobile banking transactions. Our app was rated 4.8 on App Store and 4.7 on Google Play Store.

We will also continue to back our customer’s ambitions by enhancing our products and services to fulfill the evolving needs of our customers and initiate strategic partnerships to support customers in achieving their financial goals.

Backing the nation’s ambitions and supporting the UAE’s Government initiatives is also one of our top priorities, and the launch of the CBD Digital Lab demonstrates that. The CBD Digital Lab is the first initiative by a bank to establish an R&D facility in the DIFC Innovation Hub, which aims to create a collaborative ecosystem in the FinTech sector by fostering innovation and supporting integration between financial institutions and fintech start-ups.

The Digital Lab will not only drive the future of finance and the future economy, but it will position the UAE as one of the world’s most innovative nations and a global hub for innovation and technology. Further, it reaffirms our efforts to become “default digital” and expand infrastructure in financial technology, unlock innovation opportunities, and introduce new and innovative financial products to the market.

How do you evaluate the post-pandemic banking situation in the UAE, and what reformative actions can be expected from banks?

We have recently announced our financial results for the first half of 2022. The positive results that we have achieved indicate that we are in a recovery mode and returning to pre-pandemic profitability levels.

The pandemic has forced banks to evolve and adopt new business models. A bank’s success in the future will be based on its ability to be agile. The landscape of the financial sector is changing dramatically. With technological disruption, the emergence of new entrants, both fintech and digital giants, and constantly evolving customer expectations, organizations are forced to continuously adapt to these changes and deploy an agile organizational model.

At CBD, digital transformation and innovation are fundamental to our ongoing success. We will continue to invest significantly in these areas to ensure we provide our customers with a convenient and seamless banking experience.

Can you tell us more about CBD’s ESG and Sustainability initiatives?

As an organization backing the ambitions of our proud nation, CBD remains committed to operating its business in a sustainable manner, aligning with the UAE’s efforts towards sustainable development, empowering local communities, and preserving the environment.

In 2021, CBD initiated an ESG transformation journey. We have consolidated ongoing and future environmental, social, and governance initiatives under a common ESG Framework governed by an ESG Committee, which is accountable to the CBD Executive Committee.

Our ESG Framework sets out the key initiatives we believe we must undertake as a responsible corporate organization. We firmly believe that every employee in the Bank, and every citizen and organization in the UAE, has a role to play in sustaining our future.

It is an incredible time to be a part of this great nation, particularly as the UAE readies itself to host COP28 in 2023. We are determined to play our part in driving the sustainability agenda and backing the ambitions of the UAE.

Below are some of the key initiatives that we have undertaken:

• CBD financed a government entity undertaking the development of a 300,000 tons per annum multi-fuel conventional-based Waste-to-Energy (WTE) facility and associated power substation in the UAE. The project will help the Emirate of Sharjah reach its zero-waste-to-landfill targets and help the UAE achieve its goal of diverting 75% of solid waste from landfills.
• CBD financed a consortium of companies that has been tasked to build and operate the expansion of a major solar park in the UAE. The solar park is one of the world’s largest renewable projects based on an independent power producer (IPP) model.
• We have already begun reviewing the assets currently on our books. Additionally, we see potential opportunities in green repos and green trade loans. Our green product exploration is further supported by an emphasis on sustainability as part of our employee innovation challenge.
• We are expanding upon our procurement framework to ensure that we are not only promoting local suppliers but also suppliers who have a demonstrable dedication to the environment.
• We have reduced our paper consumption by 47%. Additionally, our consumption of plastic water bottles was reduced by 28%.

The consideration for awards will be based on nomination and jury evaluation. Organizations and individuals that have presented distinctive qualities, raised benchmarks, and achieved spectacular success in meeting the expectations of partners and/or customers will be selected based on several criteria.

The following are the award categories:

Winning Nominations

Nominations are invited for recognition at ICT Champion Awards. After gathering and segregating nominations, a jury will be appointed to evaluate nominees.

If you wish to nominate anybody in these categories, you simply fill up the nomination form by clicking here.

The deadline for nominations will be September 30, 2022.

Sponsorships and Promotions

The sponsorship of the ICT Champion Awards is a great opportunity to enhance your brand visibility and connect with the region’s ICT channel. The award format offers multiple avenues for high-profile branding and communication before, during, and after the event – in print and online.

We also offer a live blog, on www.varonline.com, and social media promotions.

Key Benefits of Sponsoring JNS Media International ICT Awards

Exposure and Profile Building: Get benefit from high-profile branding before, during, and after the event in multiple mediums including print and online

Networking: Meet experts and decision-makers from leading companies in the IT industry

Enhance Your Visibility: Enhance visibility further by associating with the prestigious ICT Awards

Right Occasion to Present Key Messages to the Channel: JNS Media International’s ICT Champion Awards event would be an ideal occasion to reach out to key specific consumers and partners

Open Up for Potential Business Leads and New Partnerships: You’ll be benefited from fruitful interaction and engagement with prospective partners or clients

Reach out to info@var-mea.com or +971 56 404 0503 to learn more about participation and sponsorships at ICT Champion Awards 2022.

How well did you persuade customers with your unique products at Seamless Middle East 2022?

At Seamless, we have been able to highlight Geidea at a very large scale and received an overwhelming response. We have well highlighted the value of Geidea to all our customers including merchants, banks, and other fintech companies.

Speak about the businesses that you have interacted with and the industry verticals Geidea would be focusing on in the upcoming years.

We want to focus on all Industry verticals – retail, F&B, utilities government and B2B business. We want to play a very large role in the supply chain management business as well. We see a large role of Geidea in converting cash to card and specifically in supply chain management business, We wish to replace that with a corporate purchasing card (card on file) and Geidea being the transaction acquirer.

Sailesh Malhotra – General Manager – GCC – Geidea

How do you deal with the competition and what edge ahead Geidea has against its competitors?

We would not focus too much on the competition but values we deliver. Our value proposition is very strong and simple – make payments easier at a cheaper cost by bringing the best technology to both the smallest and largest merchant in the market.

What about Geidea’s collaborations with financial organizations, mainly banks in the region?

One of the notable bank partnership has been with the First Abu Dhabi Bank (FAB). It has a fintech spinoff by the name of Magnati and we have signed up with them as a PSP. We have a few more partnership conversations going on in the region in Kuwait, Qatar and Oman for similar arrangements across multiple products. We will announce these shortly.

Tell us about the expansion plans you have in the middle east region

We want to go pan MENA. However, the selection of countries will be based on regulatory and technology availability / requirement. As of now, our focus is on the established markets, i.e., Egypt, UAE, and Saudi Arabia – we are doing phenomenally well in Saudi.

Do you collect user data as part of the business? If so, where do you keep it and handle it?

We collect information and follow all the standard requirements of Central Banks in the country of operation. We are very rigid and maniacal about following regulatory requirements and ensuring all customer data is well protected. We have our own data centers are these are closely monitored by our team. We follow and ensure all payment Card Industry Data Security Standard (PCIDSS) are followed and we stay compliant.

Tell us about Callsign’s Middle East presence, market share, focused industry verticals, and prospective association with enterprises?

Callsign works with large global banks including many in the middle east region, but we also work with many other industries, because identities are required for all online interactions.

Our focus is to empower organizations and consumers to know who they are interacting with online and provide a solid defense against bad actors and their sophisticated scams and fraud without adding undue friction to the customer journey. Behavioral biometrics are a key technology in this area.

Why there is a need to identify ourselves digitally?

From retail shopping to mobile banking and social media platforms, we need to prove we are who we say we are online. This is amidst a context of diminishing trust between organizations and consumers due to the growth in fraudsters purporting to be from trusted organizations scamming consumers out of money and goods – demonstrating we can’t currently trust the identity of who we interact online. Digital trust is eroding.

How can we build trust using digital identities?

Organizations want consumers to interact and transact with their online services, but it is hard to know who to trust online. Simple pins and passwords do not prove the person is who they say they are. A bad actor using a legitimate username and password looks like a genuine consumer accessing services. So how do we build trust online again? We need to be able to prove beyond doubt who someone is online. To do this, organizations need to challenge the ubiquity of traditional log-in methods, such as usernames and passwords, and instead introduce different ways of validating digital identity to provide the public with confidence in using their services.

Saeed Ahmad, MD – MENA, Callsign

One way to do this is to use biometrics, behavioural biometrics add no friction to the user journey and are unique to the user. With a simple swipe of the phone or typing on a keyboard, a user’s identity can be confirmed. It’s extremely hard for a fraudster to mimic the muscle memory of a user, so even if they have genuine credentials, technology will prevent them from gaining access to the services they are trying to game.

Once consumers and organizations have confidence in the technology to do this, we start to build trust. We can trust that the technology we are using online proves who we are beyond doubt, and the digital economy will grow.

How to choose the best authentication method?

There are two different types of authentication methods that organizations can put in place to overcome the shortcomings of relying on usernames and passwords: native biometrics and behavioral biometrics.

However, native biometrics cannot be changed, so if compromised, problems arise. They also add friction, using facial recognition during a payment journey may discourage the consumer from completing the transaction. But using facial recognition to transfer large sums of money may be appropriate friction, it’s a large transaction and so the authentication methods and friction need to be relevant.

Supply chain attacks aren’t new. If the past couple of years have taught businesses anything, it’s that the impact of supply chain cyber attacks is now, universal, from the fallout of the SolarWinds software breach, to the exposed Apache Log4j vulnerability and Kaseya last year. Unfortunately when such supply chain attacks hit smaller businesses who are usually the suppliers to larger enterprises, their impact is especially prohibitive.

For SMBs already feeling the prolonged impact of the pandemic, the added pressure of dealing with sophisticated and frequent cyber attacks in real time, are a heavy burden, as they try to protect their business against financial, legal and reputational damage, as well as their own suppliers and larger clients’ security. It is now more important than ever for SMBs to implement strict security hygiene and effective cybersecurity processes to ensure their business is prepared for the event of cyber attacks happening.

SMBs as an indirect avenue of cyber attacks

The reality is threat actors have taken advantage not only of the now-entrenched remote working model to target organisations, but also the usual limits preventing SMBs from bulking up on their cyber security defenses, mainly lack of budget and expertise. SMBs often do not have a dedicated IT or security department, meaning with no in-house security expertise and reduced focus on security patching, these companies are easier to socially engineer and infiltrate. Adding to this, SMBs usually have employees doing multiple roles, and thus a wider access to valuable areas of the business and information is given to them, and so if breached, they pose a  threat to multiple areas within the business.

Ram Narayanan, Country Manager at Check Point Software – ME

Threat actors often target SMBs as low hanging fruit for their vital role in supply chains. This is especially so as such attacks wreak havoc on not only one organization but entire businesses within the supply networks. By leveraging tactics such as phishing, cybercriminals gain access to an organization to launch a malware attack, steal data and credentials or instigate a ransomware.

The key factor to preventing cyberattacks is threat prevention. With minimal time and lack of cyber expertise or manpower, SMBs must adopt a prevention mindset to minimise potential cyber attacks and threats.

Why cybersecurity readiness is paramount for SMBs

Beyond the immediate financial impact and reputational blow as a trustworthy, reliable partner, SMBs can also face legal or regulatory repercussions, operational disruption, flow-on costs for system remediation and cyberattack response, customer churn, and the loss of competitive advantage that can make or break a smaller business. In fact, a tarnished reputation as an avenue of attack can be even more detrimental to an SMB organisation, as the loss of trust with a larger organisation could mean a loss of potential business and revenue down the line with them or other new, potential customers.

How SMBs can prevent supply chain attacks

By applying stronger cyber defences, SMBs are in a position to provide larger organisations with assurance that larger companies they supply to will not be compromised via the SMB partner or third-party vendor.

Whilst there are multiple means to prevent such supply chain attacks, the first step is to have good software capable of covering the entire company, protecting the company’s endpoints and devices, supported by regular backups so that, in the event of a cyberattack, they have the possibility of restoring all the data.

A viable option for SMBs is to also consider engaging an experienced Managed Security Service Provider (MSSP), who will have the skilled resources, updated security software and experienced expertise to monitor for and analyse threats on behalf of the SMB player. This is especially useful for SMBs who have neither the time nor resources to adequately enforce threat detection and response.

Partnering with a cybersecurity expert equipped with best-in-class security and scalable solution such as Check Point Software can put SMBs in good stead to protect against the most sophisticated attacks and generate trust among larger potential players.

Flat6Labs claims to have successfully nurtured 18 start-ups, that have cumulatively received over AED18 million in funding, in the previous two cycles of Flat6Labs Ignite — a specialized AED120 million seed program run in partnership with DisruptAD, ADQ’s venture capital platform, to support up to 60 start-ups in Abu Dhabi over three years.

“Flat6Labs in partnership with ADQ is here to support this thriving start-up ecosystem and the resounding success we have had over the first two cycles — which have seen companies like RemotePass and Dharma rapidly grow to become dominant players in their respective industries — is testament to the effectiveness of our program,” said Ryaan Sharif, General Manager at Flat6Labs UAE.

The mentorship offered to the start-ups over the course of the Bootcamp includes insight on creation of the minimum viable product/service, customer discovery, marketing, go-to-market strategy development, and financial modelling. In conclusion of this training, each start-up will have the opportunity to present its pitch to a Selection Committee comprised of Flat6Labs Management, ADQ’s representatives, veteran venture capitalists and top executives from the region’s leading enterprises.

The companies that are chosen by the Selection Committee will be eligible for seed funding of up to AED1.15 million, and follow-on funding of up to AED2 million. Furthermore, inclusion in the Flat6Labs Ignite program gives selected start-ups tailored support, mentorship, and access to ADQ’s considerable network and resources.

Explain how Uniphore products work in terms of Conversational Automation, and how enterprises can make use of this.

Uniphore is a conversational automation company. If you look at how conversations, and the way organizations have been built over the years – the heart of organizations has been their ERP systems, their finance systems, or their HR systems. But if you look at what really encapsulates an organization, it is the conversations that happen, both within the company and externally, with their vendors, customers and partners. At Uniphore, we believe that conversations are a company’s most valuable asset. What we do therefore is to provide a framework wherein AI and natural language processing (NLP) can be applied to a company’s conversational data to enhance engagements, both internally and externally.

Ravi Saraogi, Co-founder & President-APAC at Uniphore

Our current focus is on providing an integrated conversational service platform which combines conversational AI, workflow automation, robotic process automation (RPA), and low-code and no-code capabilities, all wrapped up with a business-friendly user interface (UI). Our goal is to transform and democratize exceptional customer experiences.

Customer experience really takes shape in the Contact Center. Uniphore enables businesses to empower their contact center employees to deliver highly personalized, empathetic customer interactions which elevate the overall experience. The solutions we deliver include U-Self Serve which helps drive customer engagement across channels like IVR, web and mobile, and reduces the cost of customer service. Once the conversation moves to an agent, we enable authentication which is especially essential now as agents work remotely. This is made possible by U-Trust which delivers frictionless agent verification to increase customer trust. It can verify agents effectively and reduce contact center fraud. As the customer converses with the agent, our third product, U-Assist steps in to give the agent real-time analytics that drive compliance, facilitate cross-sell and up-sell opportunities, address consistency and churn with knowledge management and most importantly enable agents to be more empathetic. In this way, U-Assists effectively guides the agent throughout the entire interaction and on completion, automatically summarizes and documents the entire conversation, drastically reducing post-call work. Finally, U-Analyze makes it possible for 100% of interactions to be monitored and analyzed for details such as soft skills, compliance, churn, and cross-sell and up-sell opportunities. In this way, Uniphore delivers a platform upon which our products address the entire lifecycle of customer conversation – from an automated channel, to authentication, to live service, and finally to post-factor.

How can automation be tailored to the needs of each organization from different market segments?

Uniphore caters to a US$500 billion customer service industry and therefore has deployments across multiple verticals. By virtue of this, we have amassed a lot of learning and industry specific insights. Consider for example a typical request to a bank such as ensure the customer’s credit card will work during an overseas trip. Between navigating the IVR, speaking to an agent, and the agent subsequently making the required updates to the system, this interaction is likely to take no less than 10-12 minutes. But if Uniphore has been deployed, then instead of the IVR, the customer can speak in native language to a bot which connects them more efficiently and conveniently to an agent. Then as the customer relays the request to the agent, RPA processes automatically populate forms, allowing the agent to fulfill the request with just a single click. So, what would have otherwise taken the agent multiple forms, is instead completed via an RPA in mere milliseconds. In addition, our solution actively monitors the conversation in real-time to identify up-selling opportunities – in this example, it could be the possibility of offering a travel insurance package, or a preferential Forex rate. In this way, with Uniphore a customer journey which could have taken upwards of 12 minutes can be completed in under 3 minutes, with the added benefit of potential cross-sell and up-sell opportunities.

What verticals does Uniphore focus on other than Banking?

Ravi: Within in financial services industry, we also serve other non-banking service providers such as mortgage providers, and many of the world’s leading insurance companies. Beyond BFSI, we serve the telecoms sector – with many of the largest service providers across the globe being Uniphore customers – and the healthcare market. Of course, BPOs are another large focus for Uniphore wherein we don’t only sell to them, but also sell our services through these organizations. In addition, we also have a big customer-base in the eCommerce, Ed-Tech, and hospitality segments.

What is the typical size and scale of organizations that Uniphore serves – is it just large enterprises or also the SME segment?

Any organization that has a contact center has the potential to benefit from Uniphore’s products. In the Middle East, where the cost of contact centers is higher than in markets such as India or the Philippines, any organization that has over 150 contact center seats would be a suitable candidate for Uniphore solutions.

That said, we have a very strong penetration into the enterprise space. Globally, Uniphore works with 6 out of the top 10 BPOs, 3 out of the top 5 telcos, and between 70% to 80% of Fortune 500 companies.

Could you please tell us about your presence in the Middle East and your strategy for the region in the coming year?

Ravi:  In the Middle East, we have a strong partner focus as we sell through our partners, and alliances. Of course, we also have a team that is based in the Middle East that is headquartered in the UAE and has a local presence in countries across the MENA including Saudi Arabia, and Egypt.

We have signed partnerships with the largest BPOs, leading consultancy firms, local value-added providers and technology vendors who are global in nature but also have a strong presence in the Middle East.

Can you talk about the deployment model for Uniphore’s platform?

Uniphore’s products are end-to-end SaaS based. Having said that, in dealing with large enterprises, we also understand that not every entity is ready to run their solutions in the cloud. So, we offer the flexibility of on-premise deployment delivered within the subscription model. Depending on their complexity, our deployments typically range anywhere between two to three weeks, to two to three months and the solution then runs seamlessly without significant management overheads. In addition, if a customer requires any managed services, system management, or environment management, then we have additional services which can be consumed by our customers.

Given the stringent data handling policies we see in many countries, how does Uniphore manage data?

Ravi: First, by virtue of dealing with large enterprises, Uniphore’s technology and hosting stacks are fully compliant with certifications that include PCI DSS, ISO 27001, HIPAA, HITRUST, SOC 1, and SOC 2. Second, from a data security perspective, if required, we deliver our solutions on-prem in the customer’s environment. This means all their data resides within their own infrastructure. Or if it is hosted in the cloud, then that hosting is done within the country, so the data still resides within the geography. This is made possible by our global partners with the largest of cloud service providers which are also present in the Middle East market.

In terms of security, do you have a fool-proof system to ensure the security of data on solutions that you deploy in customers private environments?

Because we work with the largest of enterprises, we cannot deploy our solutions unless they meet all compliance requirements and certifications. Maintaining data sanctity is absolutely crucial to our deliveries.

Today, Uniphore processes hundreds of thousands of interactions on a daily basis. When you process this volume of data, that often has sensitive customer data, it’s easy to see why security is paramount to everything we do.