AiThority Interview with Omar Arab, EVP of Corporate Business at VeriTran

Hi, Omar. Please tell us about your role and the team/technology at VeriTran.

I am the EVP Corporate Business of VeriTran. I’ve recently focused on leading the company’s expansion into the United States, building and designing the strategic go-to-market plan. I also spearhead sales and marketing activities with the company’s partner ecosystem.

VeriTran has teams and offices globally, all working towards the unified goal of helping companies through the process of rapid digital transformation. VeriTran’sLow-Code platform lets users create apps in record time with an intuitive drag-and-drop model, taking advantage of accelerators that are prebuilt—and without writing a single line of code.

In the middle of the pandemic, how did you handle your internal communications and brand marketing strategies?

The pandemic is clearly not the most favorable context; however, we have been able to continue to grow. After stay at home orders were announced, we were able to start working from home in just 24 hours globally. We were fortunate to have an appropriate culture and infrastructure which were already prepared to carry out global projects from any of our locations. In this sense, the pandemic did not affect our operations, nor the speed of our projects.

We also realized that VeriTran was uniquely positioned to help during this period of uncertainty and as a result, we leveraged our existing technology to help our clients maintain business continuity during the pandemic and build out the necessary solutions for a time of unprecedented digital migration.

We also have kept our focus on customer-centricity and helping create a stellar experience for the end user of our products, which we view as the key in allowing companies to successfully navigate the “new normal” of the business landscape.

What tools and technology platforms do you use to work from your remote location and coordinate directions to the team?

As a digitally savvy and technology-focused company, luckily our team culture and skills allowed for a smooth transition to fully working from home. Additionally, we have always collaborated with our other offices globally, so we were already accustomed to a degree of remote work.

We primarily use enterprise collaboration tools such as email, chats, videoconference platforms, mobile phones provided by the company, and IP extensions to communicate internally as well as meet with clients and prospects.

We’ve been impressed with the effectiveness of these tools to keep up productivity and continue fostering a culture of urgency and positivity within our company. At VeriTran, we view culture as the key in pushing forward digital transformation and other innovation initiatives quickly, and our teams’ ability to rapidly adjust to this massive paradigm shift has served as a proof point for that idea.

Tell us about your recent alliance with Mambu. How does it jointly help your customers?

We are very excited about the recent partnership with Mambu and the opportunity to welcome their team into our financial partner ecosystem. The collaboration combines VeriTran’s front-end capabilities with Mambu’s true SaaS cloud banking platform, resulting in a solution that allows banks to rapidly launch their digital apps and achieve to offer its clients a fully digital experience. While the process of building out digital channels could typically take years, through the merger of VeriTran and Mambu’s technology, clients will be able to do so in a matter of months.

Digital transformation is playing an increasingly critical role in today’s landscape. After unprecedented numbers of workers transitioned to remote work during the pandemic, companies were forced to prioritize implementing the proper remote work technology and digital channels.

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Financial institutions are no exception –many struggled with this rapid transition to digital, and as a result, now recognize the need to leverage technology and invest in app development and digital transformation in order to remain at the forefront of industry innovation, making our alliance with Mambu even more timely and relevant to our customers.

What does your ideal customer profile look like? Which markets and titles are you currently targeting to grow your business?

We help organizations of all sizes push forward their digital transformation initiatives through building digital apps– we view any company starting out on their digital transformation journey as an ideal customer. We currently work primarily with financial institutions, including the top banks in Latin America.

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We are now in the process of expanding globally, last year we opened offices in Miami and New York and recently in Europe and Brazil. We hope to continue our global push, and we’re looking at several markets that would benefit from the ability to rapidly digitize.

How are you helping businesses deliver the experiences their customers want?

Customers now expect a stellar user experience from all the products and services they interact with, which includes apps, websites, and other digital channels being consistent, intuitive, and trustworthy. However, many financial institutions and banks have been slow to deliver on the standards that customers now expect and are struggling to keep up with a rapidly shifting digital economy and challenger bank competitors.

VeriTran’s technology is helping traditional banks and other organizations within the financial ecosystem digitalize and improve the customer experience, delivering the intuitive, secure, and appealing digital touchpoints that consumers crave. At VeriTran, we believe that customer-centricity is the key in delivering a best-in-class user experience that differentiates a company from its competitors, and we help our clients create that experience for their own customers.

What metrics do you use to measure the success of your products, solutions and customer success?

There are a few key measures of success that we take into consideration:

Time-to-market:

An important aspect of Low-Code platforms is their ability to help create digital channels quickly and meet today’s increased digital demand in record time, so as a result, we view a rapid time-to-market for quality products as an important indicator of success.

User experience:

Low-Code platforms use a simple interface to build the digital channels that provide a superior customer experience – if we get positive feedback in terms of the ease of use and intuitive nature of the created product, we know that it was a success.

Customer growth:

We track the quantitative progress of our clients to ensure that our solutions are helping them attract new customers and build loyalty in current customers– for example, for Argentina’s Banco de la Provinciawe developed Cuenta DNI, a digital wallet, and we saw that customer usage of the product has tripled since the beginning of the pandemic. In just one month, Cuenta DNI reached 1,000,000 active users, proving to be a success.

Hear it from the pro: How do modern security and privacy measures impact any company’s reputation and customer retention?

As I mentioned earlier, a foundational belief of mine is that an exceptional customer experience is one of the most important differentiating factors, and executives must establish and nurture a customer-centric mindset and culture within their organizations in order to succeed.

A large part of a positive user experience is trust – that companies will have measures in place to protect from security breaches, that they won’t misuse customers’ personal data, and that they want what is best for consumers.

Organizations must have the appropriate security and privacy measures in place in the modern age, where phishing attacks and breaches are on the rise, in order to maintain customer loyalty and trust.

Tag a person whose answers you would like to read here:

I would love to read Paul Rippon’s answers – he is the co-founder of Monzo. Challenger banks such as Monzo are leading innovators and disruptors in the financial ecosystem, are advanced in terms of digital transformation and creating a personalized customer experience and would likely have some compelling insights to share.

Thank you, Omar! That was fun and we hope to see you back on AiThority.com soon.