Message from President, Pakistan Software House Association for IT & ITES (P@SHA)

E-banking is no longer just an option for banks - it has in fact become a necessity for short-term customer acquisition and long-term customer retention as well as increased revenue.
Demand for 24-hour banking has been steadily expanding across the region. Technological innovation is increasingly tied to customer satisfaction as banking is becoming less associated with branch access and more with round-the-clock availability.
Leaders in the banking sector are those that have embraced technology. In fact financial institutions have been coming up with some very innovative offerings as the industry has become more competitive.
With Mobile and internet banking becoming more common, customers are now able to:
-- Access their financial information (account balances, credit card bills, deposits, etc) anytime, anywhere,
-- Carry on transactions in real-time
-- Make empowered online financial decisions
Creative value-added extensions of e-banking services are being offered to compliment the core online services of banks. Examples of this are the use of messaging and alert services like SMS and emails as a communication vehicle for banking information like due dates for credit card or mortgage payments, account balances, salary credits, etc. Customers can choose which form of delivery they prefer and how frequent these alerts should be.
P@SHA member companies have, for many years, been providing solutions to local and foreign banks to make the transition to e-banking smoother and easier. Adopting e-banking has actually involved a total change in the way a bank operates. Adoption of new technologies, integration and training, have all played a key part in the changing dynamics of banks.
Outsourcing of entire processes is taking place. System integration companies, technology consultants and call centres are playing a major role in this transition. Innovative financial solutions in the areas of Risk Management, Islamic Banking, etc have been developed by local software companies in addition to the traditional core banking products that have been developed and implemented.
Adoption of e-Banking is bringing fresh challenge in terms of security and policy issues. Continuous discourse on e-banking and on the policies being drafted by the government, is therefore essential because the landscape is changing constantly. In its 8th year, the E-Banking conference helps focus our minds on current e-banking strategies and the issues that we need to address. Congratulations to Faisal Rahim and his team for continuing this effort.