Page 144 - 7X PR RPEORT MAY 2025

5/20/25, 1:28 PM AI-Powered Payments: FSS Unveils Innovation at Dubai Event | Khaleej Times
Setting a bold vision, he urged organizations to target a 30 per cent impact
across systems, workflows, or decision-making as a benchmark for real AI-led
transformation. He concluded by emphasizing that trust and regulation are key
enablers of AI success: a trusted partner ecosystem can dramatically accelerate
meaningful adoption, while proactive regulatory frameworks will shape how AI
evolves across industries.

A standout use case came during a session led by Imad Ahmed Abdalwahab,
Managing Director of Government Payment Solutions at Magnati, who shared
how AI is already delivering tangible results. Imad discussed an instance in which
a high-risk transaction was identified and blocked by an AI-powered engine in
real time — demonstrating how financial security is shifting from reactive
protocols to proactive systems.

“AI enables us to act before the threat fully emerges,” he said, adding that the
UAE’s leadership in fintech governance is helping organisations like Magnati
push boundaries safely and effectively.

The morning reached a crescendo with the panel discussion “Reimagining
Payments in the Artificial Intelligence Era,” moderated by Benedict Xavier, Global
Head of Business Solutions at FSS. The session brought together a distinguished
group of industry leaders, including Haishan Wu, Head of Innovation, AI & Data at
Zand Bank; Mohamed Chakib Ouabi, Data & AI Value Strategy Lead at
Accenture; Devendra Kumar, Head of Digital Channels – Global Transaction
Banking at Mashreq Bank; Malaz Mubaid, Chief Executive Officer of Wall Street
Exchange; and Sandeep Crasta. The discussion spanned everything from fraud
prevention to regulatory compliance, predictive analytics, workflow automation,
and customer personalisation. Panelists highlighted how AI enables a more
tailored approach to banking — making it possible to anticipate customer needs,
detect anomalies, and comply with evolving regulations in real time.

A recurring theme throughout the panel was data governance, ensuring that as AI
systems become more powerful, their use remains transparent, secure, and fair.
The panelists stressed that effective AI must be explainable and auditable,
especially in financial services where trust is paramount. They also spoke about
the enabling role of national initiatives such as the Jaywan national card scheme
and real-time payments platforms, which are pushing the digital transformation
agenda across the region.
Adding further regional context, Sandeep David Crasta, Head of Sales – Retail
Payments, Mena at FSS, contributed valuable insights on how localised AI
strategies can drive customer-centric innovation and operational excellence.
As the payments ecosystem grows more sophisticated, FSS is investing in
modular, secure, and scalable platforms that cater to regional market needs while
staying globally competitive. Its AI-enabled solutions are designed not only to
increase efficiency but to help banks future-proof their operations in a fast-
evolving digital landscape.
In a region that is evolving as fast as the jet skis skimming across the Marina
waters outside the Grosvenor House, FSS is committed to moving just as quickly
ensuring that no institution, business, or consumer is left behind in the digital
shift. Through its ongoing commitment to innovation, collaboration, and impact,
FSS is not just observing the AI revolution — it is helping to lead it.
FSS: A GLOBAL LEADER
Financial Software and Systems (FSS) is a global leader in payments technology
and transaction processing, offering a comprehensive suite of products and
solutions that redefine the payment experience.
With a presence in over 25 countries, FSS powers seamless transactions and
enhances customer experiences for banks, financial institutions, and fintechs
worldwide.
The company’s offerings include card issuance, merchant acquiring, real-time
payments, and reconciliation, secure 3D authentication, and active device
monitoring.

https://www.khaleejtimes.com/supplements/fss-showcases-ai-driven-payment-innovation-at-flagship-dubai-event 3/3