Karachi: Systems Limited, in partnership with tech giants including Microsoft, IBM, AWS, Temenos, Formpipe, and Dell Technologies - Awan Distribution, organized the 14th edition of the Bank of the Future Forum. This event is a significant gathering in Pakistan's banking sector, focusing this year on the transformative role of artificial intelligence in finance.

The forum, themed "Reimagining the Future of Banking with AI," began with remarks from Ammara Masood, GM Global BFS at Systems Limited. She set the stage for a series of discussions on AI's impact on banking.

Jameel Ahmed, Governor of the State Bank of Pakistan, delivered the keynote address, sharing the central bank's vision for an AI-driven financial future. He emphasized the importance of remittances, noting that the recent increase is not solely due to incentive schemes. Ahmed highlighted Pakistan's efforts to integrate with global payment systems.

Ahmed also discussed the shift toward digital currencies, noting that the State Bank is exploring the development of a digital currency. He acknowledged the complexity of creating a central bank digital currency.

On digitization, Ahmed stated that the bank is focusing on digital financial services. He noted that consumer demands have driven the evolution of secure, convenient banking through cloud computing and AI.

In fiscal year 2025, Pakistan recorded 9.5 billion digital transactions. The State Bank has successfully implemented a Know Your Customer (KYC) system, with more banks set to adopt it.

Ahmed stressed the need for investment in emerging technologies and strengthening cybersecurity to protect customer data. He warned that cyber fraud could damage public trust.

Asif Peer, CEO of Systems Limited, also spoke, highlighting AI's role in redefining banking, from customer engagement to risk management.

The State Bank aims to continue building a robust digital financial ecosystem, with banks and fintech companies playing crucial roles in this initiative.