Tech Adoption In Finance

Is the finance function adopting or lagging in Bahrain?

Finance technology across the wider gulf has been widely explored and leverage, particularly as technology plays a significant part of the growth and innovation strategy for most governments across the emerging economies of Bahrain, the UAE, and Saudi Arabia. Such relevance has given rise to imperative strategic bodies such as the Bahrain Economic Development Board, the Bahrain Fin-tech Bay and the Central Bank of Bahrain, are working rigorously to drive economic development in the technology space.

According to our latest research, it is evident that developed markets are making slower progress which is driven by a need to want additional assurance around certain aspects of cloud technology, whether that’s security, the integrity of data, functionality, or the overall financial situation in terms of balancing operating expenditure versus capital expenditure. There is a nervousness about being early adopters.

Whilst there may be hesitancy in some mature markets, emerging markets, particularly Bahrain, are increasingly taking a positive approach and implementing the latest technology

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