design

Reimagining Banking with AI, Cloud, and Design Thinking

Speaking on the sidelines of Global Finance’s 2025 Global Bank Awards in Washington, D.C., Arun Jain—Chairman and Managing Director of Intellect, and Chief Architect of Purple Fabric—outlined a bold vision for what he calls the “fifth wave of banking”: an era defined by AI, Cloud and Design Thinking.

At the centre of this transformation is Purple Fabric, the world’s first open business-impact AI platform. Jain describes it as a democratizing force for the industry—technology that brings AI out of the exclusive domain of data scientists and places it directly into the hands of business and operations teams. The goal is to enable banks to co-create contextual, composable solutions that deliver measurable efficiency gains and improved customer experience, while upholding the highest standards of ethics, transparency, and trust.

For Jain, the future of banking requires a decisive shift from product-first thinking to a customer-first model. Rather than designing products and retrofitting customer journeys around them, he argues that financial institutions must build solutions around the financial events that shape customers’ daily lives—from paying bills and receiving salaries to large, complex needs like home purchases or wealth transitions.

This philosophy underpins eMACH.ai, Intellect’s modern architectural framework built on Events, Microservices, APIs, Cloud, Headless technology, and AI. By adopting these modular building blocks, banks can create unified platforms capable of responding to customers’ unique financial-event patterns in real time. The result: faster innovation cycles, personalised engagement, and the ability to scale new business models at materially lower software costs than legacy platforms allow.

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Moscow Interior Design Week Draws Growing Interest From Middle Eastern Businesses

The seventh Moscow Interior and Design Week has emerged as a major draw for entrepreneurs from the Middle East, underscoring shifting international interest in Russia’s design and creative industries.

Organizers and exhibitors said that while previous editions of the event were dominated by visitors from China and European countries, this year saw a notable increase in business delegations from the United Arab Emirates and Saudi Arabia. Attendees from the region praised the exhibition’s organization and the creative approach to showcasing design concepts.

“We had long heard that Moscow is becoming a global center for interior design, but the fact that this event is now in its seventh year convinced us to come as part of a large business mission,” said Mona Negm, chief executive officer of Masahat Interior & Architectural Design. Demand from clients for distinctive, one-of-a-kind interiors is growing, she said, adding that Moscow-based manufacturers demonstrated an ability to compete with leading international studios. Negm described the exhibition as “the most beautiful in the world.”

In addition to business visitors, the event also attracted a growing number of tourists from the Middle East, according to participants. Visitors frequently noted the distinctive aesthetic approach of Moscow designers, particularly in decorative elements.

Exhibitors said guests from the UAE showed strong interest in living room furniture, ceramics and floor lamps—items they view as versatile for both residential and office interiors. As a result, unique design pieces are finding buyers not only among professional procurement specialists but also individual tourists.

“In previous years, foreign visitors to our stand were mostly tourists from China and Western Europe,” said Semen Ivanov, founder of Burg&Glass. “This time, we were surprised by the strong interest from visitors from the Middle East. Many said they came to see Moscow ahead of the New Year holidays and decided to visit the city’s main furniture and décor exhibition as a priority.” Several visitors, he added, described the event as the most beautiful design week they had attended.

The seventh Moscow Interior and Design Week is being held from Dec. 11 to Dec. 14 in the Russian capital. Alongside the main exhibition, the event features an extensive business program with expert-led sessions. Speakers include Reem Bin Karam, chief executive officer of the UAE’s Irthi Contemporary Crafts Council, who is scheduled to speak on Dec. 13 about how professional designers combine styles, forms, textures and patterns to create cohesive interiors.

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Trump replaces architect to lead $300-million White House ballroom design

President Trump has tapped a new architect to help plan his $300-million White House ballroom wing, assigning the former lead designer to a consultant role in the high-profile and controversial project.

Shalom Baranes Associates, a Washington-based architecture firm, will design the ballroom that will be built in place of the demolished East Wing, according to a White House official. James McCrery, who was previously named to lead the project, will remain in a consulting role.

“Shalom is an accomplished architect whose work has shaped the architectural identity of our nation’s capital for decades and his experience will be a great asset to the completion of this project,” White House spokesman Davis Ingle said.

The White House did not specify why it was swapping architects on the project. The Washington Post reported that McCrery and Trump clashed over the scope of the project and that McCrery’s small firm wasn’t able to meet deadlines in the large-scale project.

Demolition of the East Wing, which once housed the first lady’s office, began in October. Trump has said the new ballroom will be 90,000 square feet and hold 1,000 people, a complex that will be much larger than the main White House building, which is about 55,000 square feet.

Cost estimates for the ballroom project have ballooned from $200 million to as much as $350 million. The White House has also said Trump is contributing to the ballroom project, though it hasn’t said how much.

Wealthy individuals and corporate donors — including billionaire Steve Schwarzman, Amazon.com Inc. and Coinbase Inc. — have also contributed funds for the project, which has raised concerns about potential conflicts of interest for a president who has also regularly mixed personal business with official duties.

Trump unveiled his ballroom plans over the summer, after long complaining about wanting a larger room for entertaining at the White House. At the time, the president said the work on the White House grounds wouldn’t “interfere with the current building” and that the project’s plans paid “total respect” to the existing structure’s architectural style.

Clark Construction Group LLC is leading the construction of the new ballroom among other projects in Washington, including a renovation of the Kennedy Center.

Will Scharf, a White House aide and the chair of the National Capital Planning Commission, said that the administration is slated to submit plans for the ballroom this month.

Woodhouse writes for Bloomberg News Service.

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