The Finance World Magazine| Edition: October 2022

Interview
Imran Kannuti
VP and Head PMO - Banque Misr UAE
Imran Kannuti has more than 22 years of experience in the
financial sector, with a focus on extensive project management
and technology experience in the GCC, banking, and insurance
sectors. He is currently the Vice President and Head PMO
of Banque Misr UAE and International Business, where he is
in charge of the implementation of TEMENOS Transact core
banking for the company’s international branches as well as
PMO governance and digital initiatives.
Exclusive to The Finance World Magazine
What is the most important factor
for any bank to successfully
conduct digital transformation?
A strategy must come first in a
digital transformation. If a suitable
strategy for any business is aligned,
agreed upon, and approved, then
digital transformation will be the first
aspect to result from this approved
strategy. For any organization to
successfully go through a digital
transformation, there are a few
points that must be kept in mind.
First and foremost, we must clearly
understand the digital transformation
vision we intend to carry out. Have
we adopted the latest technological
innovations? How agile are we in
adapting to these changes, and how
flexible are we in managing them?
Finally, we must enlist capable digital
leadership. Therefore, adopting an
agile culture, having access to the
most cutting-edge technologies
available, having the right skill set,
and having the right digital leadership
are just a few essential elements for
any successful digital transformation.
Furthermore, we must consider how
secure our clients’ data should be
kept, and, more importantly, we must
continue to prioritize our client’s
needs in our efforts to implement
digital transformation; customers
must remain at the center of our
excellence. Considering all of these
factors, any bank or organization that
incorporates this way of thinking
into its strategy program has a
better chance of successful digital
transformation.
What are the major benefits of
clouds for small scale projects and
large ones?
Small, medium and large businesses
all benefit from the idea of cloud
computing, which is now present
in every organization, regardless
of size. I can confidently state that
it will be a viable alternative for
smaller businesses or projects. They
will have more opportunities to plan
their budget. Budget will almost
always be a significant barrier for
small businesses or modest projects;
as a result, adopting a cloud model
reduces your chances of increasing
your infrastructure investment. Cloud
computing will undoubtedly assist
you in developing your pay as you
go plans. Additionally, it provides
greater benefits for large projects.
The two greatest benefits, in my
opinion, are operational efficiency and
favorable effects on apex activities
when planning projects. If you’ve
adopted cloud technology for larger
products, you’ll be quicker to market,
have a better chance of overcoming
challenges and providing quick
solutions, and most importantly, it
will grow your operational efficiency.
Therefore, cloud computing is
unquestionably an affordable solution,
regardless of small, medium, or large
organizations.
Where do you see the traditional
banking system heading?
Traditional banking’s main objective
was to establish a physical presence
where staff members could interact
with customers and provide financial
services because, at that time,
clients only relied on direct faceto-face
interactions. But to answer
your question, given the course
that traditional banking is currently
traveling, I can say that it has already
undergone a sizable transition in
its execution. The reason I say
this is because of how customers’
expectations are changing and how
they perceive how everything has
changed in terms of technology
over the past few decades. When
comparing how banking was 25 years
ago and how it is now, there has been
a significant change in how customers
think as a result of the introduction
of numerous new technologies. As a
result, traditional banking is currently
undergoing several significant
changes. Much like they have reduced
the number of physical branches
in favor of digital ones, many of
26 www.thefinanceworld.com October 2022