Emirates Institute of Banking and Financial Studies (EIBFS), in association with leading UAE banks and insurance companies, has launched the EIBFS Fintech Training Lab to enhance skills training in the latest digital technologies in the financial sector.

Marking the launch, the Institute recently hosted the first Fintech Training Lab meeting with the banking, insurance and technology experts to understand the future needs of their industries.

The agenda specifically underlined the development of talent that can integrate and apply the rapidly evolving technologies to identify and resolve business challenges in the functional domains of operations, investment, credit, compliance, Islamic banking, and risk.

Jamal Al Jasmi, general manager of EIBFS, said: “The global banking and financial industry is undergoing massive transformation, given the disruptive changes arising from the financial technology domain. The skill sets required for finance professionals is changing as we speak.”

“While the priority in the past was to develop functional skill sets in the various domains of banking, the new trend is to ensure the application of technology to functional skills, referred to as the techno-functional skills.

“As the premier banking and finance training institution in the UAE, EIBFS is keen to proactively contribute to the industry by developing talent for the digital era. This assumes even greater significance as Dubai, through its Dubai Future Accelerators initiative, and the wider UAE continue to actively promote Blockchain, Artificial Intelligence, Big Data and several other emergent technologies that are already impacting the way we handle our financial and complementary transactions.

“Our role, therefore, is to be at the forefront of creating training programs and modules that empower the workforce of tomorrow to tackle the exciting future in the banking and finance domain,” he added.

The EIBFS Fintech Training Lab has planned its first training module as part of the Annual Training Plan in 2019. The modules will be supplemented by a series of conferences on Blockchain, Big Data, Cybersecurity and Cryptocurrencies. The Lab also plans to offer fintech courses via e-learning.  – TradeArabia News Service