NEWS


IBS Journal March 2018


09


Agility is essential and blockchain not a priority to SMB survival


I


mproving agility is a top priority for European small to medium business (SMB) leaders seeking to take advantage of a digitally empowered workplace. According to a new study


commissioned by Ricoh Europe, the majority (86%) of the 1,608 SMB leaders surveyed say they are actively focusing on improving business agility in 2018.


Half of the respondents (51%) are specifically introducing new technology to respond faster to trends and opportunities, while 52% say that without the benefits of updated workplace technology they will fail within five years.


SMB decision-makers are prioritising technology that directly addresses core employee needs. They believe automation (72%), data analytics (64%), document management (62%) and video conferencing (56%) will have the most positive impact on their business.


SMB leaders aren’t fooled by the hype around virtual reality and blockchain


“


Javier Diez-Aguirre, VP, Ricoh Europe said: “The European SMB community is hugely ambitious. As a result of challenging market conditions, business leaders are rightly eager to identify new


S


ociété Générale de Banque au Liban (SGBL) has partnered with digital banking firm Backbase to replace its legacy digital banking platforms. A rollout of Backbase tech has already


been completed in Lebanon, going live in December 2017. Further rollouts are expected in Jordan, Cyprus and the UAE.


SGBL selected Backbase to complement its new core banking system, Temenos T24, which it selected in 2014, and is still in the process of implementing. The bank’s previous system, ICBS from BML Istisharat, had been in place since 1994.


The bank expects an enhanced user experience, faster time-to- market, increased security and “consistent service quality” across both branches and digital channels. Antoun Sehnaoui, chairman and CEO of the bank, said: “Backbase’s solutions will enhance agility in our suite of distribution channels as we adapt to a dynamic retail and corporate client base.”


opportunities early and reap the maximum reward. They know that remaining agile is crucial in order to capitalise on market changes and value the role technology plays in this.


“It’s clear that agility is high up on the SMB agenda and business leaders do not see the issue as being exclusive to larger competitors.”


The productivity and innovation benefits of smarter workplace technology is considered a critical factor for business success. Some 70% of those questioned put technology at the heart of their organisation’s capacity to thrive, indicating a strong belief in the value of a digitally empowered workplace.


Diez-Aguirre added: “SMB leaders


aren’t fooled by the hype around technologies such as virtual reality and blockchain. Instead, they wisely choose to prioritise investment in the tools that will have a real, positive impact on the bottom-line. Those that haven’t already must carefully consider how technology can enable their employees to work faster and smarter, making their businesses agiler. If not, they could soon find that they’re the ones facing extinction as the market moves on without them.”


Société Générale de Banque au Liban revamps digital offering


He continued: “This partnership reflects our commitment to empowering our customers with the most secure, innovative financial technology to help keep them moving forward with confidence.”


Joulk Pleiter, CEO of Backbase, said: “We are delighted to have been chosen by SGBL and to play a role in the transformation of its digital banking landscape. This expansive, customer-focused transformation brings SGBL into the same playing field as the fintechs, or even beyond. As an organisation that embraces change SGBL has, in partnership with Backbase, met developments in its industry, transformed its digital capabilities and driven change within its organisation and beyond.”


Société Générale de Banque au Liban offers both retail, private and corporate banking services to customers in the Middle East. The company was formerly known as Société Générale Libano- Européenne de Banque, but changed its name in 2001.


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