National Informatics Company is launching a financial technology management consulting firm to provide advisory services to the Central Bank and the country’s banking network.
According to Iran digital economy annotation, Alireza Mahyar, CEO of the National Informatics Company, explained the reason for establishing and operating this consulting firm: ‘In our country, we lack consulting firms like Deloitte or McKinsey. As a result, digital transformation plans for banks have focused mainly on launching software and hardware projects, with less attention given to the structure and process of business development. However, the goal of the Seventh Development Plan is structural transformation.’
He added that the absence of a company capable of implementing large-scale consulting projects and providing advisory services to the country’s banking network led to the idea of forming a financial technology management consulting firm under the National Informatics Company.
Regarding the commencement of this company, Alireza Mahyar, CEO of the National Informatics Company, said: ‘The identity and structure have been determined, and the board of directors is in the process of approval. I believe we will be able to officially start operations from mid-August.’
He emphasized: ‘In this company, we aim to provide consulting services to commercial banks alongside the Central Bank.’
Mahyar continued: ‘One of the first projects that this company will undertake is the smart supervision scheme, which will be commissioned by the Central Bank. The company’s activities will be carried out in the form of consulting.’
The goal of National Informatics
The CEO of the National Informatics Company,explained the primary mission of the consulting firm, saying: ‘We are looking to build up knowledge within this company. Our goal is not just to carry out missions; we want to attract skilled and local consultants, with a priority on Iranians who have gained experience and can transfer their knowledge.’
He discussed the potential challenges the company might face, stating: ‘There might be some limitations. We aim to address these limitations with the help of universities. For example, we have signed a memorandum of understanding with Tarbiat Modares University in the areas of consulting, education, and innovation.’
Mahyar added: ‘We are confident that in 2024, especially with the new government, we will be able to play a significant role in providing services to banks. The reality is that initially, we cannot use foreign companies as a complete model. We need to develop our own banking network, and we have now arrived at a specific business model for our banking network through studying various models.’
The CEO mentioned: ‘In the field of consulting, we can examine activities and identify the strengths and weaknesses of companies and banks, providing solutions to address the weaknesses. Currently, we will set timelines for our shareholder banks to address these weaknesses using our solutions.’
Faradis Gostar Kish will focus on innovation
He explained about Faradis Gostar Kish and its new mission: ‘Faradis Gostar Kish had a different shareholder structure, and we decided to incorporate it under the holding company. We also included the holding company’s companies as shareholders in this process.’
Mahyar emphasized the scope of Faradis Gostar Kish’s work: ‘Faradis Gostar Kish will focus on innovation. Our plan is for other companies in the National Group to benefit from this company, creating an innovation hub. We will also implement an Investment Policy Statement (IPS) based on the type of investments within the companies, and this investment policy will guide the activities of the companies.’
He clarified that innovation is a primary focus in other companies of the National Group: ‘Other companies have innovation, identification, and evaluation sections, but the central reference for integrating and potentially evaluating and valuing these innovations will be Faradis Gostar Kish. This will enhance company innovations and assess their participation.’
Regarding potential conflicts of interest in the field of innovation among National Informatics companies, he said: ‘This will not happen because our other companies do not share the same operational paths. For example, Kashef and Shaparak are not competitors; each operates in a separate domain.’
The CEO added: ‘For instance, the Services Company can address some issues related to Shaparak. In the Investment Council, representatives from all companies are present, and all companies are members of this council, focusing on innovation.’
Mahyar considered interaction with the innovation ecosystem as another mission of Faradis Kish, stating: ‘Interaction with the innovation fields and ecosystem is a mission of this company. We have also engaged in very good interactions in shared workspaces, and we will announce the results after Muharram. We have collaborated with several universities, including Tarbiat Modares University and Amirkabir University, and interaction with Sharif University of Technology is also in our plans.’
He continued: ‘At Islamic Azad University, Science and Research Branch, we have conducted a pilot launch of an Innovation House, which I believe is very important.’
Finally, Mahyar mentioned efforts to establish an academy and the need for a specialized knowledge institution: ‘We are working to establish an academy for those who do not have any startups. Our company views the academy as part of the whole group and will promote it as a capacity to assist in attracting interns. This company will focus on specialized training and recruiting qualified individuals, and will introduce these individuals to companies seeking young talents with specialized education who are hard to find.’
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