
FSS Showcases AI-Driven Payment Innovation at flagship Dubai event
The agenda focused on how AI is being applied today to reshape customer experience, mitigate fraud, streamline operations, and ensure regulatory compliance — all while accelerating the shift to a cashless economy. For FSS, the event was also a platform to reinforce its role as a long-term partner to financial institutions across the Gulf.
FSS CEO V. Balasubramanian shared the company's overarching point of view on AI, framing it as a catalyst not just for technological transformation but for deep-rooted organisational change. He emphasised that the true value of AI lies in its ability to drive continuous improvement and enable informed, data-led decision-making at scale.
'AI is not just about technology or tools — it is about enabling process improvement and data-driven decision-making at scale,' he stated.
Balasubramanian highlighted the importance of 'dual intelligence', urging organisations to think beyond flashy tools and focus instead on leveraging commonly available technologies in innovative ways to achieve differentiated outcomes. He also stressed the need for smart prioritisation, advising firms to pursue a dual-track approach: capitalise on easy, quick wins to build internal momentum while simultaneously investing in high-impact, long-term AI initiatives that generate sustainable value.
On the critical topic of ethics in AI, Balasubramanian was unequivocal: 'Responsible AI adoption — built on transparency, fairness, and accountability — is non-negotiable.' He added that ethical frameworks are essential to mitigate risks, build stakeholder trust, and unlock AI's full potential over the long term.
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.

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