RECORDER REPORT

KARACHI: Speakers at the Digital Banking and Mobile Payment Summit 2017, organized by TerraBiz, have emphasized for the collective efforts to promote the digital and mobile banking in Pakistan.

Pakistan’s premiere conference producers TerraBiz on Wednesday organized “DigiBAP” Summit 2017 in collaboration with PWC Pakistan as the Premium Knowledge Partners and featured some of the most insightful speakers from across Pakistan, Europe and the US. The summit was attended by over 400 delegates including CEOs and executives of banks, telcos and regulators.

Dr Syed Ismail Shah, Chairman Pakistan Telecommunication Authority (PTA) during his keynote as the guest of honor said that for the overall digital ecosystem development in Pakistan, a consultative and collaborative approach is required among different industries ranging from health, education, agriculture and media on different levels including respective regulators, government bodies, private sector and public at large to drive similar socioeconomic benefits that emerged through the convergence of ICT and banking sector.

He said that in line with the government’s vision for digital financial inclusion in the country, PTA is serving more as a facilitator helping mobile operators transform themselves into digital service providers and creating awareness among the masses to fully capitalize this opportunity for the betterment for all.

Chairman PTA said that the growth witnessed in telecommunication sector over the years with special focus on mobile broadband. He also shared the regional comparison of data usage over the internet and the surge observed in Pakistan following the launch of 3G and 4G technology.

He pointed out that close to 90 percent of the country’s population is covered in terms of mobile telephony and few projects have already been launched to take it further.

Addressing the summit, Chris Skinner, Fintech Titan by Wall Street Journal delivered the international keynote on “Internet value and the next 10 years in banking”.

Chris said that there is need that banks and financial institutions should prepare for the upcoming challenges of Digital banking and adopt technology for the best customer services and to facilities their clients.

He said that unfortunately, a large number of banking professionals have no experience of technology utilization.

“Only 3 percent of leading banks professional have experience of technology, while only 6 PC of board members have technology experience information”, Chris informed.

Nadeem Hussain, Founder and Coach Planet N Group of Companies said that there are various opportunities for the digital and mobile banking in the country. He said that the payment system in the Pakistan is going to digitalize and Fintech companies gaining space in those areas where banks have not invested or peoples are unbanked. However, the customer wants convenience, security and transparency in the digital banking.

Hamza Wasi Hashmi, CEP TerraBiz in his opening remarks said that it is a great honor to host some of the most insightful speakers from across Pakistan, Europe and the US in DigiBAP summit 2017.

The basic aim of the conference is to bring all the stakeholders on one platform to make collective efforts for promotion of digital banking and mobile payments, he added.

He informed that incorporated in 2007, Terrabiz has strived to bring the local conference production industry at par with international standards by featuring world-renowned speakers and a content driven approach.

Presently, there are several training events and conferences to TerraBiz credit across different industries ranging from Marketing to Human Resource, Supply Chain to Mergers & Acquisitions, and Internal Audit to Banking.

He mentioned that this is first venture in digital banking and mobile payments industry and the overwhelming response received from all stakeholders has encouraged us to consider organizing separate conferences on E-commerce, digital banking and mobile payments hopefully this year.

“I am confident that DigiBAP summit 2017 will be productive for all stakeholders involved and everyone will find something valuable to apply in their professional capacities”, he added.

Hamza also extended deepest gratitude to PWC, the premium knowledge partners and said that summit has possible because of the excellent brain work and also some leg work undertaken by Syed Faraz Anwer Partner PWC.

In a panel discussion “CEO’s Prospective: Ingraining Digital in organization DNA,” panelists discussed the role of banks in digital economy, digital management and key industry challenges.

Atif Bajwaja, President and CEO Bank Alfalah Limited said that there is need to change the mindset and create more awareness for the digital banking. He said that Bank Alfalah prospective is to develop policies and products in the line with demand of customers.

Irfan Wahab Khan, CEO Telenor Pakistan said that mobile payments are a new window of opportunity for the telecom sector as presently some 140 million mobile sim are issued that are higher than banks accounts. Outreach and presence of mobile banking is also much easier than traditional banking, he added.

CEO Telenor said that telecom sector is much secure now as following the regulatory directives Biometric of all customers has already been done by telecom sector.

Nauman Ansari, President and CEO Faysal Bank urged for a mechanism and products that can support the customers’ behaviour.

He said that new generation should be targeted to enhance the outreach of digital banking.

Atif Islam, Deputy CEO Meezan Bank discussed the key challenges. He said that the role of regulator is essential to promote the mobile and digital banking.

“We need to look toward the future and prepare police in the line with international practices”, he added. Mudassar Aqil, CEO FINCA Microfinance said that most of banks are focused to get deposits and lend to unbanked people.

On the occasion Syed Irfan Ali, Executive Director Banking Policy and Regulation Department State Bank of Pakistan, Dr Syed Ismail Shah, Chairman PTA, S M Shabbar Zaidi, Senior Partner PWC also addressed the summit.

During the second session, Qashif Shahid, CEO FinJa talked on War on Cash: Pakistani Style, Shahzad Shahid, CEP TPS Worldwide discussed technology led distribution in Pakistan Retail Banking and Zain Suharwardy, MD Daraz Pakistan briefed on ECO System, while Najeeb Agarwalla, CEO 1Link (Guarantee) Ltd also spoke.

Bruce Fenton, Executive Directive Bitcoin Foundation (USA) via video link talked that how blockchian technology is impacting banking and finance in emerging markets. Khurram Gul Agha Group Head IT and Transaction banking Faysal Bank briefed on integrated digital banking model and Omer Moeen Malik, Head of Digital Payments Telenor Microfinance Banks on Digitizing Payments in Pakistan: Opportunities and Challenges.

A panel discussion on Optimizing Business value through digital was also held in the session V and Mudassir H Khan, SEVP National Bank of Pakistan (NBP) Zia Ijaz, Group Executive Retail Banking UBL and Mehreen Ahmed, Group Head Retail South and new Initiatives Bank Alfalah were panelists with moderator Mujtaba Naqvi GM and senior Regional Chief Habib Bank Limited.

Another panel discussion on “Creating A reengineered operating and control Environment” was held with Khurram Shahzad Khan, Country Chief Risk Officer Standard Chartered Bank, Syed Javed Group HR UBL, Faizur Rehman SEVP and Group Head IT Meezan Bank, sand moderator Syed Faraz Anwer Partner PWC.