KPMG and Oracle discuss the future of banking in Kuwait

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Kuwait – At a joint event held at the Four Seasons Hotel, Kuwait, esteemed members of KPMG Kuwait and Oracle spoke with dignitaries from several renowned organizations to discuss their insights and insights regarding the future of financial services and the banking sector in Kuwait. .

Speaking of the current business landscape in Kuwait, Dr. Rasheed Al-Qenae, Managing Partner of KPMG in Kuwait, said: “Organizations are using new and emerging technologies to maintain a competitive edge and succeed in their digital transformation journeys. To help businesses through this disruption, KPMG has built a strong global network of alliances with some of the world’s leading technology, data and cloud services companies. In partnership with Oracle, we look forward to expanding our existing global reach and building our capabilities in Kuwait to help our customers build a prosperous, sustainable, and digital future.

KPMG has a decade-long relationship with Oracle that spans 20 countries and more than 40 KPMG member firms. KPMG, together with Oracle, provides industry-leading innovation, functional, geopolitical and industry expertise, tax, audit and advisory know-how, and risk, compliance and security insights to help clients achieve a sustainable, long-lasting and secure competitive advantage.

The highlight of the event was the panel discussion between Dany Gemayel Oracle Cluster Leader, Amit Lalloo Financial Services Subject Matter Expert, Mohamed Qasim Kuwait Sales Leader Nasser Sattar, Head of Advisory, KPMG in Portugal, Bhavesh Gandhi, Head of Financial Services and Majid Makki, Head of Management Consulting and Technology Consulting, KPMG in Kuwait.

One of the key points that emerged from the discussion was that many companies, particularly in the finance, banking, fintech and e-payment sectors, are struggling to facilitate the necessary transformation of the business. As said industries seek to redesign their core processes in pursuit of stretch goals, there is a growing need for radical digital transformation, prioritization of customer experience, and maximum use of data and analytics.

Majid Makki, Director – Head of Management Consulting and Technology Consulting, KPMG in Kuwait, said: “KPMG takes a business-centric approach to technology implementations. By leveraging Oracle technology, we help our customers transform their business operations to become more efficient and gain competitive advantage. Our consultants have years of experience helping customers maximize the return on their historical and future investments in Oracle technology. Working with our alliance partners, we continue to meet your global needs, regardless of project size or geographic spread. By working as one team, we can increase our delivery capacity to ensure that we deliver ideal results anywhere, anytime.

KPMG’s industry-centric approach and cutting-edge technology, backed by its network of trusted alliances, can help companies achieve a sustainable, long-lasting and secure competitive advantage. We have listed some of the key solution areas below:

Company powered by KPMG | Finance (ERP)

How organizations use their data plays a key role in determining their vulnerability to future threats. KPMG Powered Finance, combined with Oracle Fusion Cloud Enterprise Resource Planning (ERP), helps organizations get the most out of their data and allows them to assess how they can adapt to change and foster business agility .

Company powered by KPMG | Enterprise Performance Management (EPM)

Powered EPM helps organizations future-proof their business, keeping in mind the disruptions that could occur in the foreseeable future. Once organizations have migrated to the cloud, KPMG teams in Kuwait can help align performance and overall strategy, assess forecasts, and help determine if organizations are spending more time collecting data than analyzing. their activity. The KPMG EPM model works in tandem with Oracle Fusion Cloud Enterprise Performance Management (EPM) to help drive greater return on investment (RoI) and continued growth.

Company powered by KPMG | Human Resources (HR)

Given the ever-changing nature of the threat landscape, it’s important for companies to reshape their workforces based on real-world evidence. Together, KPMG Powered HR and Oracle Fusion Cloud Human Capital Management (HCM) can help organizations determine the right way to drive digitization in HR and how to engage their people to drive the most value.

Company powered by KPMG | Supply

This predefined target operating model works in harmony with Oracle Fusion Cloud Procurement, which is part of Oracle Cloud ERP, and can help companies understand how they can use procurement to unlock transformation, drive better value with richer spend analytics and facilitating virtually seamless change, among other things.

Company powered by KPMG | Supply chain management

With Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), KPMG Powered Supply Chain helps prepare businesses for the future. It helps organizations discern whether or not their end-to-end supply chains are operating as a single virtual organization, whether they are able to identify and mitigate potential supply continuity threats, and whether their commodity movements are driven by actual or anticipated demand. .

The event highlighted that KPMG in Kuwait intends to provide cutting-edge innovation, functional, geopolitical and industry expertise, tax, audit and advisory know-how, as well as risk knowledge, compliance and security to help businesses across the country succeed in their transformations and continued growth. .

As the event drew to a close, Dr. Rasheed Al-Qenae, Managing Partner of KPMG in Kuwait, added: “I also want to thank and recognize the panelists as well as the customers who attended this event and had a meaningful conversation about how they can work together to enable continued success and business performance.

-Ends-

Media Contact:
Karen Watts,
Partner & Risk Manager,
KPMG in Kuwait
Email: [email protected]

About KPMG Kuwait

KPMG in Kuwait operates through its member firms KPMG Safi Al-Mutawa & Partners and KPMG Advisory WLL, providing a full range of audit, tax and advisory services to a portfolio of clients including large corporations, government institutions, public sector agencies, and non-profit organizations.

With over 175 staff and eight partners based in Kuwait, we are part of a global network of KPMG firms operating in 145 countries and territories with over 236,000 partners and staff working in member firms around the world, relying on global industry knowledge to complement our strong local knowledge.

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