DUBAI, United Arab Emirates
At a time when the UAE’s financial services industry is undergoing unprecedented transformation, Financial Software and Systems (FSS), a global leader in payments technology, hosted the Dubai edition of its flagship event Simply Payments 2025 series, convening top minds in Fintech, Government Payments, and Artificial Intelligence.
Held under the theme “Reimagining Payments in the AI Era,” the event underscored the urgent need for banks and financial institutions to embrace AI not just as a technology tool, but as a strategic enabler of operational agility, consumer relevance, and sustainable growth.
The event came at a critical juncture for UAE. With the Central Bank of the UAE’s Financial Infrastructure Transformation (FIT) Programme already pushing for the rollout of instant payments, and the National Artificial Intelligence Strategy 2031 placing the UAE among global AI leaders, FSS positioned itself as a key catalyst enabling local and regional players to navigate the new digital paradigm.
A Trusted Global Enabler, Now Deepening Its MENA Focus
FSS, which powers mission-critical payments across 26+ countries, is increasing focus on the MENA region, with Dubai emerging as a hub for strategic fintech partnerships.
“For over 15 years, we have supported the payments modernization journey of governments and private sector institutions. Today, the UAE is a beacon for innovation, and FSS is proud to help realize its vision of an AI-led, inclusive digital economy,” said Sandeep David Crasta, Head of Sales – Retail Payments, MENA at FSS, during the welcome address.
FSS’s platform offerings—spanning real-time payment processing, AI-based fraud management, and open API integration—are purpose-built to meet the evolving demands of the Gulf’s financial ecosystem.
AI as a Driver of Economic and Operational Efficiency
In a keynote titled The Role of AI in Reshaping Financial Economics, Imad Ahmed Abdalwahab, MD – Government Payment Solutions at Magnati, emphasized AI’s concrete benefits:
- A 30–40% increase in transaction acceptance rates due to intelligent decision-making systems.
- Real-time fraud prevention powered by machine learning and behavioural analytics.
- AI-driven personalization that enhances user engagement across digital banking channels.
“We are no longer talking about potential. AI is already transforming how payments are processed, secured, and experienced by end-users. And in the UAE, where infrastructure and policy are in sync, the benefits are immediate,” said Abdalwahab.
He credited FSS as a “critical partner” in deploying backend systems that are faster, simpler, and more responsive—especially for government-related payments, where trust and efficiency are paramount.
V Balasubramanian, CEO of FSS, offered a nuanced take on AI’s potential and responsibilities. “AI is not just algorithms—it’s about building ethical systems that empower human decision-making. The regulatory frameworks in the UAE, which focus on exploring the ability, governance, and consumer protection, are setting global standards. We at FSS are proud to align with them.” Balasubramanian also noted that dual intelligence—leveraging both human insight and machine learning—is key to creating differentiated outcomes in a crowded market.
Panel Discussion: Reimagining Payments in the Artificial Intelligence Era
The high-powered panel discussion brought together prominent voices from the fintech and banking sectors, including Haishan Wu, Mohamed Chakib Ouabi, Devendra Kumar, Malaz Mubaid, and Sandeep Crasta. Panellists also highlighted that strategic investments in AI are becoming key differentiators for banks, especially as the pressure to modernize intensifies in an increasingly competitive financial landscape.
FSS’s offerings are deeply compatible with emerging trends in the region. Last year, FSS had launched the FSS BLAZE platform in the UAE, which has since then been more than warmly received by banks and telecom companies alike. Many of them have since adopted BLAZE, and together, with FSS, have begun to reimagine how modern payments can work in a faster, smoother and more seamless manner.
