Special Investment in AI Key Factor in Development of Bank CEO of BMI

Special Investment in AI, Key Factor in Development of Bank: CEO of BMI

Chief Executive of Bank Melli Iran (BMI) Abolfazl Najjarzadeh said that special investment in the field of Artificial Intelligence (AI) is the key factor for the transformation and development of the bank.

Speaking in his visit to SADAD Informatics Corporation (Holding), he emphasized the need for special investment in the field of Artificial Intelligence (AI) to promote the status of Bank Melli Iran and transform the banking industry.

The visit was also attended by Member of the Board of Directors of Bank Melli Iran Mohammad Najafzadeh and Executive Board Member and Deputy Head of Information Technology and Communication Network Hamidreza Mokhtarian.

Najjarzadeh considered provision of the necessary platforms for taking advantage of the new technologies “essential” and added, "We have no solution other than investing in this field i.e. Artificial Intelligence."

Need to Invest in New Technologies for Global Competitiveness

Elsewhere in his remarks, CEO of Bank Melli Iran Abolfazl Najjarzadeh stated that Bank Melli Iran must move towards using new technologies, especially artificial intelligence to maintain its position in the international arena.

Turning to the vital role of SADAD Informatics Corporation, he said, “As a pioneer in the field of digital technologies, this corporation must provide the necessary infrastructure for the transformation of the banking industry.”

These investments are essential both for Bank Melli Iran (BMI) and transformation of the whole banking industry of the country, he said, adding, “We must move quickly in this path and use the global experiences."

Importance of Transparency and a New Outlook in Banking Structure

The CEO of Bank Melli Iran emphasized the importance of transparency in internal processes and need to employ modern structures in providing services, adding that SADAD Informatics Corporation must identify customers’ needs using scientific and data-based approaches and move towards providing technological solutions.

Instead of traditional approaches, “We must make special investments in the technology sector with a focus on future. This is the only way to progress and be competitive in the global markets.”

Najjarzadeh pointed to the importance of strengthening cooperation between Bank Melli Iran (BMI) and technology companies, stating, “To succeed in this field, we must move forward in tandem with the global developments and take advantage of the domestic capacities as well."

Necessity of SADAD Informatics Corporation’s Independence to Align with Global Developments

At the other part of his speech, Abolfazl Najjarzadeh stressed the need to strengthen the position of the corporation as the driving force in the digital transformation of the country's banking industry.

SADAD Informatics Corporation should become a leading center for innovation and technological transformation, he underlined.

The chief executive of Bank Melli Iran emphasized that independence of corporation and investment in new areas such as artificial intelligence are an inevitable necessity to maintain the position of Bank Melli Iran in the global competition arena.

BMI’s CEO also emphasized the need to change the traditional approach to banking management and use new technologies, noting that the banking services must keep pace with customer needs in the Digital Age, and Sadad Informatics Corporation must play a pivotal role in this regard.

At the end, CEO of Bank Melli Iran Najjarzadeh emphasized the removal of structural and bureaucratic obstacles in cooperation with Sadad Informatics Corporation and expressed hope that SADAD Holding Company, relying on its own capabilities and potentials, will become a model in modern banking industry.

Sadad Informatics Corporation’s Key Role in Digital Transformation of Bank Melli Iran

Deputy CEO of Bank Melli Iran for Communications Network and Information Technology (IT) Affairs Hamid-Reza Mokhtarian was the next speaker who emphasized the importance of SADAD Informatics Corporation as BMI’s executive arm in offering new banking services and pointed to the necessity of learning, innovation and focusing on long-term goals, calling on SADAD Holding Company to continue its effective role in the development of technology of Bank Melli Iran.

He also emphasized the importance of cooperation and agility in implementing programs and appreciated the unflinching efforts of SADAD Informatics Corporation’s teams in advancing projects.

Emphasizing Need for Strengthening Infrastructures and Productivity: CEO of SADAD Holding Company

Chief Executive of SADAD Informatics Corporation (SADAD Holding Company) Hamed Dehghani emphasized the importance of improving infrastructures, accelerating processes and optimal use of the existing capacities.

Referring to the company's human resources capabilities of SADAD Holding Company, he called for increased productivity and further cooperation to achieve the goals of Bank Melli Iran (BMI).

By strengthening coordination, Dehghani expressed hope that quality of the company's services in the fields of information technology and payments will be promoted to a higher level.

Chairman of the Board of Directors of SADAD Informatics Corporation (SADAD Holding Company) Hamid Khaleghi Moghaddam was the last speaker who emphasized the importance of role of this company in offering new services in realization of objectives of Bank Melli Iran (BMI).

source: tehrantimes.com