Pakistani institutions and agencies import IT infrastructure and cyber-security solutions every year, although Pakistan is hometown of growing enterprises, delivering world-class cyber services (e-banking) to a number of governments around the world.
The one day conference “17th e-banking conference” that had two panel discussions on “Developing trust in digital banking” and “branch transformation: How much digital is enough?” organized by Total Communications at a local hotel in Karachi.
Chairman Pakistan Software House Association (PASHA), Syed Ahmed,” addressing at the conference, said “Pakistan based IT firms are serving agencies like US National Aeronautics, Space Administration and other governments to protect them against cyber threats, while our financial institutions and security agencies invest billions of dollars to import the same”
He further said, it was time when the local stakeholders i.e., the government, security agencies, and financial institutions trust on their own IT firms. They are equip with the world class expertise and capable sufficient to help fighting against cyber threats and bring other technology driven solutions,”
The current government is striving hard to raise its exports, drops imports, and creates import substitutes to maintain a balance between its foreign earning and income with the prime objective of reducing the current account deficit (CAD).
Adviser for Digital Transformation at World Bank, Naeem Zamindar said,” The World Bank has planned to hold a summit of 20 key stakeholders in Pakistan sometime next month to outline how to transform the country into a digital world”. The World Bank plan for preparing a roadmap for fast digitalizing in Pakistan and want from government for facilitating private sector to let them do wonders in country.
Head of Digital Banking at Faysal Bank, Dato’ Arif Siddiqui said, “In my mind and heart, I am clear that Pakistan’s future lies in technology led revolution,” He said the ratio of physical bank branches per one million people was one of the lowest in Pakistan compared to other parts around the world.
Group Executive Digital Banking Group at UBL, Sharjeel Shahid said, “The delivery of customers’ need-based services by using data analytics can help bankers in developing people’s trust on digital banking”.