Sunday, May 9, 2021
Iranian Cyber police
Internet bank
  • time : 12:23:17
  • Date : Mon Mar 08, 2021
  • news code : 150138
Discussed in the National Conference of BIM’s Managers:
BIM’s Board Member: Proceeding towards Digital Banking Is not a Choice but an Obligation for Banks
Hossein Askari, a member of BIM’s board of directors, said, ‘The main players in the future of banking industry are the banks welcoming the dramatic changes in technology and cyberspace in the field of banking, and this digitalization is not a choice but an obligation.’

According to BIM’s Information Center, at the National Conference of BIM’s Managers he stated, ‘Affected by Covid 19 and international sanctions, the country's economy was in special conditions in 1399 Iranian year; consequently, the country's banking industry and international exchanges influenced by sanctions and the spread of the disease were severely damaged. Given that the country's economy is bank-oriented and most of the sources of economic activities are provided through the banking system, when employment and production are affected by the outbreak of Coronavirus, the expectations of the banking system to support and plan to Minimize the effects of Coronavirus and sanctions have increased.’
He added, ‘The country's financial and banking industry, as the main infrastructure of the economic system, should formulate short-term, medium-term and long-term strategies for fundamental changes so that they can meet the expectations of society by reforming their procedures, structures and processes, proceed toward digital banking to use their assets and increase their effectiveness in production and employment.’
Askari said, ‘Today, every tool and device that is produced has the ability to connect to the Internet and the penetration rate of smart devices such as mobile phones in all aspects of human life is increasingly rapid, and we know the young population has grown in an environment influenced by different technologies and this has had a significant impact on the expectations of bank’s customers, most of whom are young people.’
‘Advances in artificial intelligence, the creation of information chains, the creation of virtual environments that look amazingly real, and the new generations of mobile phones in the near future will enable banks to create virtual branches without spending a lot of money on creating physical spaces,’ he said. 
Askari continued, ‘Research has shown that the innovation and digital experience of these virtual branches increase customers' sense of belonging to the bank and reduce the likelihood of their dissatisfaction.’
He added, ‘We should also consider the benefits of fintech companies entering the field of banking in such a way that they help banks to establish the banking ecosystem and cooperate with banks in offering new products and creating demand for these products and services.’
Askari reminded, ‘The bank personalizes each service and product in digital banking, and designs it for the same customer, that is, in accordance with the information it obtains from the behavior and preferences of customers, it provides the appropriate service to the same person. This will change the approach of the branches in marketing and attracting new customers.’
The member of BIM’s board of directors pointed out, ‘Open banking is spreading at a high speed so that banks can provide their customers with the systems and tools and receive fees for such services; Digital authentication and validation also eliminates the need for banks and their customers to spend extra time and money.’
Askari also stressed the need for the establishment of corporate banking and said, ‘Large companies that are BIM’s main customers, have very different and complex needs compared to other customers, and the bank must meet these needs by providing completely different solutions, systems and processes and act as a trusted partner and expert and efficient consultant for this group of customers, relying on the distinctions resulting from customer-centric strategies.’
 

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