Gulf Customer Experience Awards winners have taken part in a high-level conference to strengthen relations between UAE and US banks.
The UAE Banks Federation (UBF), a body representing 52 member banks operating in the UAE, hosted a delegation in Abu Dhabi led by US Treasury undersecretary Sigal Mandelker to discuss key financial issues impacting both countries.
The talks have touched on cyber crime, fraud, and anti-money laundering initiatives, along with as areas of collaboration to address key challenges within the banking sector.
The meetings come amid changes within the banking industry as FinTech disrupts the way services are delivered and lenders embark on digital transformation.
Abdulaziz Al Ghurair, Chairman of UBF, said: “A critical focus for us is tackling growing global threats such as money laundering and illicit financing, in order to effectively help create a fair, transparent and sustainable operating financial system.
“The banking and finance industry continues to experience ongoing disruption and transformational change. It has therefore become more important than ever for regulatory bodies to strike an important balance between cultivating innovation and mitigating risk.
“With this in mind, we continue to work closely with our international partners to ensure that all UAE-based banks operate in strong compliance with global regulations.”
Executives that attended the meeting included Vince Cook, Chief Executive of National Bank of Fujairah, which won the Overall Customer Experience title at the Gulf Customer Experience Awards back in January, and Peter England, Chief Executive of RAKBANK, winners of awards including Best Use of Internal Digital at the same ceremony.