Pakistan seen as emerging IT hub

KARACHI: Pakistan is an emerging hub of the IT industry with its increasing contribution to the global banking system through innovative services and out-of-box solutions, a statement said on Wednesday.

Ammara Masood, CEO and president NdcTech Limited, said that while addressing the audience at Bank of the Future Forum on Thursday.

She added that cloud banking was getting popular in Pakistan, which not only secures but aids banks to scale up their operations without huge investment in technology infrastructure.

A global fintech services provider Temenos had designated Pakistan as a regional hub for targeting penetration of its services in different countries, including banks and the financial sector, Masood stated. NdcTech has become a partner of Temenos in 2021 and the company implemented its system in 18 different commercial banks including conventional, Islamic, and microfinance banks in Pakistan, which helped the company to attract financial entities for availing of its services in the Gulf region.

“At NdcTech, we are working to introduce solutions to commercial banks, which could offer seamless services to customers at their doorsteps rather than branches.”

Also present at the event, Asif Peer, CEO and MD Systems Limited, said Pakistan’s IT industry was growing by leaps and bounds in the last few years, its potential for services exports was more than its growth in recent years nonetheless, he added.

Peer was of the view that Pakistan couldn’t survive by relying only on manufacturing-led exports but it needed services-led exports, which could be done through IT and IT-enabled services, and enhance the country’s export.

“Pakistan is an emerging player in the global market as it provides competitive and qualitative services to various export markets.” Not only contributions of local IT companies were increasing when it comes to exports, but Pakistan’s freelancers were also making a difference in the overall IT market, he added.