00:01Digital wallets, fintech and neobanks are transforming banking through innovation.
00:06As more traditional banks take on a digital-first approach,
00:10we explore a future where technology is redefining our banking solutions.
00:17Welcome to The Exchange from our studio here in Doha.
00:21Coming up on this episode, we sit down with Yusuf Al-Neyma,
00:24Group Chief Business Officer at Qatar National Bank,
00:27who shares insights on embracing technology in banking.
00:31And we chat with Juan Pablo Ortega, CEO and co-founder of UNO,
00:36to discuss the rise of new payment solutions.
00:39Digital transformation is no longer optional.
00:43It's essential for banks to remain competitive in a rapidly changing environment.
00:48New technologies are drastically transforming the banking industry,
00:52with physical branches slowly being phased out.
00:55Operations across all departments like remittances, payments and investments will be made in the cloud.
01:02Innovations such as AI and automation are proving to be invaluable,
01:07reshaping how banks offer their services like digital cards and chatbots.
01:11On the flip side, with the advancements of AI,
01:15financial crime is becoming increasingly sophisticated,
01:18prompting the need for stricter prevention measures.
01:20Last year, over 50% of banks reported a rise in business fraud,
01:26while consumer fraud losses amounted to over $10 billion.
01:31So, how is the industry evolving in the digital era?
01:35And what does the future hold for traditional banks?
01:38I sat down with Yusuf Al-Neyma,
01:40Group Chief Business Officer of Qatar National Bank,
01:43to discuss how a legacy bank like QNB is embracing technology and digitalisation.
01:51We're excited about digital banking.
01:53I think today, this is the talk.
01:56Everybody wants to apply for a digital banking licence.
02:00We are living in the digital era now.
02:03And soon, you will not see branches, probably,
02:07in a couple of years ahead.
02:09Our strategy is really to provide seamless banking service worldwide.
02:15We have a presence all the way from the UK, all the way to China.
02:21We are in more than 28 countries.
02:23Banking is evolving and is advancing to the next stage because of technology.
02:28Today, the spending on technology is huge.
02:30The rise of online-only digital banks or neobanks has dialed up competition
02:37in the financial services market, especially among younger consumers.
02:41Our reporter Cyril Fornares is in Switzerland,
02:44where neobanks are giving their traditional predecessors a run for their money.
02:49Hello, Laila, I'm here in Geneva,
02:53where financial institutions like banks are a normal part of the Swiss landscape.
02:58But that's quickly changing.
03:00New digital players known as neobanks are making their marks.
03:06They are banks that operate mainly online without any physical branches.
03:11Let's take a look.
03:12Alpian is a neobank that coughed out a place for itself in this growing market.
03:20The private bank convinced thousands to open free accounts in just minutes
03:24by offering them premium services and a host of attractive benefits.
03:29They like discretion, they like data privacy, and they like financial security.
03:34They also like having a very good service.
03:37So how do you answer to this?
03:39Throughout our hybrid model, cutting-edge technology with human expertise.
03:44If you want, you can be accompanied by a wealth advisor directly through your phone.
03:49And at the same time, we keep evolving all the time.
03:53We are purely digital.
03:54We have no legacy at all.
03:56So for us, it's very easy to move.
03:57It's very easy to be agile.
03:59From one week to another one, we're able to implement new technologies very fast.
04:03Studies show that the Swiss are particularly loyal to their banks, but more are turning
04:09to digital banks every year.
04:11J'ai une banque physique et aussi une banque en ligne.
04:14Je l'ai fait récemment parce qu'il y avait plein d'avantages au niveau des non-fraies
04:18à l'étranger.
04:19C'est très pratique en réalité, je ne regrette pas, mais j'ai bien conservé une banque physique
04:22également en plus.
04:23Je n'ai pas forcément eu l'occasion de créer un compte dans une banque en ligne.
04:28Je n'y ai jamais pensé, tout simplement, j'ai toujours un compte avec une banque en physique.
04:31J'aime bien avoir quelque chose, vraiment, je peux discuter, avoir un contact avec quelqu'un.
04:37C'est encore des startups, donc forcément, on ne va pas mettre tout son capital dessus.
04:41According to a report by financial experts at Deloitte, Swiss retail banks are falling
04:46behind in digitalisation, giving neobanks, like Alpien, an opportunity to drive innovative
04:53change.
04:54Over to you, Leila.
04:55Other than neobanks, emerging trends in payment methods are also shaking up traditional
05:01banking.
05:02I spoke with Juan Pablo Ortega, CEO and co-founder of YouKnow, a company that provides innovative
05:09payment solutions to explore how alternative methods are reshaping the financial landscape.
05:15We have seen a rise of APMs, alternative payment methods.
05:22So for a while, companies used to expand accepting credit cards and debit cards.
05:26But then you look at, for example, Saudi Arabia.
05:30Only 20, 30 percent of the population have a visa or a Mastercard.
05:34Most of the people use MARA, which is the local domestic scheme.
05:38We go into Indonesia.
05:40Indonesians love their wallets.
05:42You have Ovo, you have Dana, you have GoPay, you have GrabPay.
05:46So we're seeing an emergence of different payment methods and we're seeing that this
05:51is a struggle for companies because then I have to expand, I have to do more integrations.
05:55In terms of new technologies where we're seeing encryption, authentication, we are the launch
06:01customer with Mastercard of being able to pay with passkeys.
06:05Passkeys are these cryptographic keys that you save in your device.
06:08We're seeing a big future of stablecoins.
06:12Stablecoins at USEC, USEP, I think it's going to become the norm as people want to pay around the world.
06:20Now it's time for our regular feature, Business in 60 Seconds.
06:24Start the clock.
06:25Lenovo is gearing up to announce Q4 2025 earnings, having recently unveiled its transformable laptop
06:32with a screen that can flip and fold.
06:34The device features a high-resolution display with touch capabilities.
06:39It provides users with an immersive visual experience, showcasing the company's focus on innovative product designs.
06:46Ralph Lauren is preparing to reveal its fourth quarter 2025 earnings report
06:50as the US fashion house has worked to reposition itself, focusing on its core product strengths
06:56like cable knit sweaters and blazers.
06:58Effective marketing, such as being chosen to dress the US Olympic team, has continued to strengthen its trendy image.
07:06And Zoom is set to release its first quarter 2026 financial results.
07:11The video conferencing company has made various technological advancements.
07:15This includes the new Zoom business services for marketing, customer care and sales.
07:20It's also enhanced its offering for content creation and asset management.
07:25So, while the banking behemoths of the world still dominate the financial services market,
07:32digitalisation and innovation are essential to compete with the emerging players.
07:37For consumers, this means learning to adapt to a new way of saving and spending their money
07:42and perhaps banking on a digital future.
07:44Well, that's all the time we have for on this edition of the show.
07:48Thanks for watching.
07:49Please do check out Euronews.com for all your latest business news
07:52and join us again next time on The Exchange.
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