Banks Need to Shift Focus on High-Tech

A recent study estimates that information technology investment barely accounts for 1.73% of Iranian banks' annual spending. This is while a sharper focus on the key sector can and will boost profitability of lenders.
Electronic Banking magazine, in its last issue published the results of a study on the IT share in the books of Iranian and foreign lenders. It said the current investments in tech-related services in Iran should multiply four times to get closer to the global average.
Censuring the old and inefficient practices of large Iranian banks, the report said boosting investment in IT and electronic banking services is inescapable.
Given the high cost of electronic services for banks in Iran, most lenders have outsourced IT-related operations to selected companies offering e-banking solutions. Informatics Services Corporate, Tusan Company, Datin and Behsazan Mellat are the leaders in the field.