Karachi
\nSystems Limited, in collaboration with Microsoft, IBM, AWS, Temenos, Formpipe and Dell Technologies \u2013 Awan distribution, hosted the 14th edition of the Bank of the Future Forum (BOFF) \u2014 most influential and anticipated event of Pakistan\u2019s banking industry.
\nThis year\u2019s forum, themed \u201cReimagining the Future of Banking with AI,\u201d focused on how artificial intelligence is transforming the financial landscape.
\nThe day commenced with opening remarks by Ammara Masood, GM Global BFS at Systems Limited, setting the tone for an insightful day of discussions around the role of AI in shaping next-generation banking.
\nThe inaugural keynote was delivered by Jameel Ahmed, Governor, State Bank of Pakistan, who outlined SBP\u2019s vision for guiding the financial sector\u2019s transition towards an AI-driven future.
\nJameel Ahmad has said that the Bank\u2019s focus is on increasing and stabilizing remittances, emphasizing that the recent rise in remittances is not solely due to the incentive scheme.
\n\u201cIf the increase were only because of the incentive scheme, the growth trend would have reversed by now,\u201d He added that Pakistan is working to integrate with global payment systems.
\nSpeaking further, the SBP Governor said that as the world moves toward digital currencies, Pakistan must also adapt. \u201cThe State Bank is working internally on developing a digital currency, though creating a central bank digital currency is not an easy task,\u201d he remarked.
\nOn the topic of digitization and artificial intelligence (AI), Governor stated that the Bank\u2019s focus remains on the digitalization of financial services.
\n\u201cWorkplaces have become digital, and financial services are evolving rapidly. Consumers now demand secure and convenient banking. Cloud computing and artificial intelligence have revolutionized financial services,\u201d he said.
\nHighlighting the Bank\u2019s progress, the Governor revealed that in fiscal year 2025, Pakistan recorded 9.5 billion digital transactions, of which 68% were conducted through mobile apps and 5% via cards and internet banking. He said the Know Your Customer (KYC) system is running successfully, and 15 more banks are set to adopt it soon.
\nHowever, he stressed that alongside these technological advancements, banks need to invest in these emerging technologies. The SBP, he added, is strengthening its cybersecurity framework to ensure data protection.
\n\u201cWith AI, our responsibilities have increased \u2014 customer privacy has become even more important. Any cyber fraud can damage public trust,\u201d he warned.
\nConcluding his remarks, Ahmad said Pakistan\u2019s digital financial services are moving toward innovation, where banks and fintech companies play a vital role. The State Bank will continue its efforts to build and strengthen the digital financial ecosystem, he affirmed.
\nIn a powerful keynote, Asif Peer, CEO & Managing Director, Systems Limited, shared how AI is redefining every aspect of banking, from customer engagement and operational efficiency to risk management and innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi Systems Limited, in collaboration with Microsoft, IBM, AWS, Temenos, Formpipe and Dell Technologies \u2013 Awan distribution, hosted the 14th edition of the Bank of the Future Forum (BOFF) \u2014 most influential and anticipated event of Pakistan\u2019s banking industry. This year\u2019s forum, themed \u201cReimagining the Future of Banking with AI,\u201d focused on how artificial intelligence […]<\/p>\n","protected":false},"author":2,"featured_media":514442,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-514423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n