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Canadian Lebanese collaboration looks at global financial technology (FinTech)
5/11/2017
Safa Jafari Safa  |  Office of Communications  |  media  | 

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The MBA Program at the Suliman S. Olayan School of Business (OSB) at AUB collaborated with the Lebanese Canadian Tech Hub (LC Tech Hub) in a conference entitled “How disruptive is FinTech?” 

FinTech, or financial technology, describes the emerging technology used to support or enable banking and financial services. In the rapidly growing global financial sector, investment in financial technology in the 21st century has started to increasingly play a role in changing the perspective of the financial industry worldwide. With an interest to be ahead of every innovation, AUB hosted specialists in the field to shed light on the global dynamics of FinTech, its implications for the region, and the lessons learned from countries that have adopted it.

“The disruptive forces of FinTech have already started to present themselves and I hope that students will be part of these defining moments in the finance industry,” OSB Dean Steve Harvey told us. 

Executive Vice President of Information Technology of Desjardins Group in Canada and member of the board of the Lebanese Canadian Tech Hub, Chadi Habib, was keynote speaker. He talked about the current technology and innovation impacting the financial industry in North America and how to bring best practices from the advanced FinTech ecosystem there to be applied in the Middle East and North Africa (MENA) region.

“The most important ingredient in winning in the digital world and digital finance is a smart ecosystem that brings together companies, entrepreneurs, universities, governments, and talent,” said Habib. “This collaboration is counterintuitive to most but critical for leading and not suffering the digital revolution.”

Chadi Habib serves on the boards of Zag Bank and Monetico International. Responsible for a team of nearly 4,000 people, his mandate consists in offering specific solutions to all of Desjardins' business units which include the banking and insurance sectors, as well as strategy, enterprise architecture, infrastructure, operations, risk and compliance management, and user services.

“I strongly believe that Lebanon has a major competitive advantage and is in the best position to become the FinTech capital of the MENA region,” said Fadi Joseph, President of Lebanese Canadian Tech Hub. “I see this capital competing at three sectors: banking, higher education and innovation, and the startups ecosystem.” 

The LC Tech Hub is an ecosystem that connects entrepreneurs, investors, and governments in North America, through Canada, to startups in the MENA region, through Lebanon, as well as the GCC. It provides a digital ecosystem to promote business opportunities and entrepreneurship. 

“The integration initiatives of the LC Tech Hub are at the heart of what AUB and OSB advocate: nurturing the best of ideas and applying them both East and West,” said Dr. Yassar Nasser, Director of the MBA Program at OSB. “In this perspective, the discussion on FinTech is very important and relevant. Technology and its application are changing the world of finance as we know it.”

The initiative between LC Tech Hub and AUB allowed for an exchange of ideas and interests between experts within the two institutions and offered an opportunity for networking with key actors in the financial and technological worlds. 

“The growth in FinTech within the region and beyond warrants dedicated sessions bridging theory and practice,” Dr. Yassar Nasser told us. “OSB has always been at the forefront of innovation and excellence in education. This event captures both aspects in their most basic essence.”
Story Highlights
  • ​​The MBA Program at the Suliman S. Olayan School of Business (OSB) at AUB collaborated with the Lebanese Canadian Tech Hub (LC Tech Hub) in a conference entitled “How disruptive is FinTech?” 
  • FinTech, or financial technology, describes the emerging technology used to support or enable banking and financial services.
 
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