Modern technology is entering the financial sector

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Modern technology is entering the financial sector

Post  Admin on Fri Apr 06, 2018 4:38 pm

07/4/2018 12:00 am

With local application
Baghdad / Al-Sabah
The transfer of advanced technology represents an important step to activate the banking services, which represent the nerve of economic development sought by the country, which requires us to start where the world ended to keep pace with developments in the field of the financial sector.

A member of the Baghdad Economic Forum Jassem Al-Aradi stressed the need to "open up to the successful regional and international experiences in the banking sector and work on transferring them to Iraq, which is directed towards a major development process in all productive and service sectors."

Big numbers

Al Aradi praised the Bank of the South for adopting the automation system of paper processes and vital characteristics. He said: "The availability of human resources helps to a large extent in the ability to achieve the sophisticated systems needed by the international and local effort that will adopt the process of construction and reconstruction, as it requires banks with the ability to deal with large numbers "He said.
01 Systems will implement this strategy in several stages, starting with automating ATM services through the implementation of the "digital coupon" system, which allows the customer to perform several operations Such as dragging, depositing and converting in branches via a tablet easily and without the need to use traditional paper coupons or even help the exchange officer.

Special equipment

The second stage of the digital transformation process is through the application of the system of automatic identification of the customer through the vital characteristics; the importance of this system in that it allows the bank to identify the customer without the need for a personal ID card, and this by checking the vital characteristics of the arteries of the customer's finger Through special devices that allow the bank to verify the identity of the client, which will solve the problem of fraud and accelerate the process of verification of the identity of the client. This system is characterized by a high level of security where all data related to the process is encrypted by the electronic device used in addition to the encryption provided by the program.
The Bank of the South customers will be able to benefit from these services in all branches, thus the Bank of the South is the first bank to provide these quality services in Iraq.

The mass of cash

Al-Aradi stressed that "this experiment should expand in order to serve the Iraqi economy and enhance confidence between the citizen and the banking system, which in turn works to transfer the monetary mass in homes to the banking system and investment in favor of the sustainable development sought by Iraq, and the adoption of banking systems in a particular bank creates Competition between banks and make them racing in the development of systems and modernization, and this is in favor of the Iraqi financial sector and make it a real competitor to regional and international banks.

The company has signed "zero systems

One "agreement with the bank itself to implement the system of business process management and electronic archiving, to manage and automate banking operations in the latest ways and the latest science in this
the field.


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