A Transformative Journey: How Technology Shaped the Future of Bank Alfalah of today.
In the dynamic landscape of banking, adapting to technological advancements is not merely a strategic option; it has evolved into a business necessity. Reflecting on the years 2012-2015, I take pride in recounting a pivotal period that saw Bank Alfalah undergo a remarkable transformation, reshaping its future and setting the stage for unprecedented growth.
This week, Bank Alfalah celebrates two milestones; the opening up of its 1,000th branch, and achieving a 2 Trillion deposit base. And it is important to reflect on the project team that led the foundation of these milestones for the bank. It all commenced in the year 2012.
In April 2012, the stage was envisioned and a transformative journey began steering the bank towards a trajectory of success. The breakfast meeting between President and me, in the Executive Lounge of Serena Hotel, Islamabad, set the stage and the broad vision for the momentum that many in the industry now view with awe and inspiration.
By June 2012, when I joined Bank Alfalah, and as the President had earlier indicated, what he had inherited when he joined the Bank, a laundry list of people and technology issues greeted us. The technology steering committee meetings in the subsequent 2 months set the direction and unveiled the core reason behind all the issues; people’s attitudes, the lack of understanding between Project work and Business-as-usual, and a list of disparate & disconnected technology platforms.
The bank was reeling with challenges concerning its customers and its franchise. The board and the shareholders sought sustainability, while the management aimed for growth. A commitment was made between President's ambition to grow the bank and my Transformation Capability and providing a solid base for the trajectory growth. The commitment to the board was that the laundry list of issues would become a list of opportunities, once the project team is streamlined. The decision to restart the challenging Core Banking Project was undertaken, with the Vision and commitment to addressing the bank’s inherent challenges.
The trust reposed by the Board, with a presentation in Abu Dhabi, in the technology-led transformation, proves to be the determining and pivotal factor behind the current standing of the Bank. As they say, some decisions change the course of the future. This trust by the board, was the defining moment, for the future, and what was to happen within the bank to correct the course of direction.
Spearheaded by a dedicated team of technology leaders, this initiative to transform was more than just an upgrade; it was a catalyst that would propel Bank Alfalah from 471 branch network in 2012 to an expansive network of 1000 branches today. Massive growth in branches, products, deposits, and customer base underscores the stability and efficiency of Bank Alfalah’s core banking system, serving over a million customers. Imagine the period before the year 2012, when Bank Alfalah had 3 parallel core banking systems, and had it not been for the visionary technology leadership, the bank would have still been reeling customers and its franchise.
The strategic decision to boldly drive core banking proved to be a game-changer, positioning the bank as an industry leader in innovation and customer service. The project's impact extended beyond mere numbers; it resonated with Bank Alfalah’s vision for growth, acting as the driving force behind the Chairman’s aspiration to become a powerhouse in the financial sector.
In the annals of the region’s banking history, the years 2012-2015 stand out as a testament to resilience, innovation, and visionary leadership. At the forefront of this transformative era was a ground-breaking Core Banking Rollout that built the solid base, providing platform to propel Bank Alfalah from 471 to 1000 branches and also set the stage for a series of ambitious initiatives.
The business team was able to set up and grow new businesses including Bancassurance, Branchless Banking, Payroll Banking and Alternative Delivery Channels. Bank Alfalah entered into Mobile Payments and Digital Banking, and the launch of Orbits, the first enterprise level loyalty program in Pakistan.
The platform also provided for some of the high impact businesses; Wealth Management, Premier Banking and Payroll Banking, in addition to significantly improving the Customer Experience and Satisfaction levels.
This journey stands as a shining example of how strong leadership, strategic initiative, and a commitment to excellence can redefine the trajectory of a financial institution and the future of its Shareholders and Executive Team.
The Core of Transformation: Embracing Temenos-Based Core Banking
At the core of our success story lies the strategic decision to transition from three disparate core banking systems to a unified, Temenos-based core banking system. This monumental shift laid the foundation for a seamless integration of Treasury, Retail Banking, and Corporate & Commercial Banking.
Strategic Leadership and Initiative: At the helm of our transformation were strong technology leaders who, recognizing the need for change, spearheaded the long-awaited Core Banking Conversion Program. Selected team members, carefully chosen from both technology and business domains, assumed pivotal roles in taking charge and bringing this ambitious program to fruition.
The Visionary Technology Team: Architects of Success and an Outstanding Example of Leadership
Ambitious, Bold, and Successful: The Core Banking Conversion Program, Islamic Banking Integration, and the Temenos Digital Platform Upgrade collectively stand as an outstanding example of leadership, ambition, and success. These initiatives were not merely projects; they were a manifestation of the visionary approach that defines our institution.
Leadership at the Helm: Driving the benefits provided by the Technology Leadership of 2012-2015 are our esteemed Bank's Chairman, CEO, Group Head Retail, and other key business leaders. The strategic vision and steadfast commitment have not only reaped rewards for our shareholders and customers but have positioned our bank as an industry benchmark. It does not come as a surprise that Bank Alfalah won the prestigious Best Customer Franchise awards.
A Trailblazing Legacy: Eight years later and counting forward, Bank Alfalah success story remains unmatched. No other financial institution has been able to replicate the giant leap forward achieved by Bank Alfalah in the years 2012-2015. As the Bank continue to innovate and lead, the earlier promise and commitment to excellence remains unwavering, setting new standards for the industry and inspiring the financial landscape.
Behind this technological renaissance stood a team of experts whose foresight and expertise transformed challenges into opportunities. Their leadership and decision-making for tough choices in navigating the complexities of the Core Banking Rollout positioned our bank as a leader in the industry. All credit goes to the powerful team; who promised and delivered on the commitment.
From Laggard to Leader: A Testament to Expertise
Without the dedication of our technology experts, our bank might have languished as a laggard in the industry rather than emerging as the leader it is today. The Core Banking Rollout, a difficult initiative requiring guts, decision-making, and creativity set the stage for continuous innovation and growth.
The strategic decision to unify into a Temenos-based core banking system was not just a technological upgrade; it was a defining moment in our bank's history. Today, as Bank Alfalah reflects on the journey to 1000 branches and a 2 Trillion deposit base, the bank and the financial industry applaud the instrumental role played by the than technology leaders. Their visionary approach has not only positioned Bank Alfalah as an industry leader but has also created a resilient foundation for future successes.
Leadership That Defined Success
While I led the project at the time, I was fully supported and supplemented by the pivotal force of the following, who brought difference and reshaped the bank’s destiny :
Zubair Elahi ; Jawed Sattar- CA Affiliate, FPA ; Kamran Raza ; Khurram Siddiqui
Amrik Tak ; Saqib Khan; Abdul Asad ; Mohamad Ajjour ;
领英推荐
Syed Zahid Hussain Shah ; Adnan Halepota ; Dilawar Hussain
Kashif Khan ; Kashif Yaqoob; Kazim Ali; Khalil Ahmed Sani ; Mukarram Jah ;
Qamar Nafees; Qamar Shahzad Toor ; Toqeer Aslam ; Furqan Javed ;
Ghulam-E- Mustafa ; Hamid Khan; Iffat Ali Rizvi; Jawad Ahmed; Kamran Haider
Khurram Shahzad; Mohammad Farhan; Munawar Zaman Danish
Naseeb Ahmed; Sajjad Hassan; Salman Fateh Ali ; TARIQ ZOHAIR
Waseem Bhatti; Abdul Samad; Abdullah A Bari; Adeel Khan
Adil Siddiqui; Jahanziab; Misbahuddin Muhammad ; Hamad Akhtar?
Since most of the above team members, including myself, have transitioned from Bank Alfalah to higher and bigger roles in other banks and the related industry, it is an absolute pleasure to note that Bank Alfalah is still reaping the benefits of this massive transformation. The current milestone of 1000 branches and a 2 Trillion deposit base is a testimony to the original masterpiece of technology upgrade.
Closing Thoughts: In closing, as we reflect on this transformative journey, it is paramount to recognize the extraordinary leadership and initiative displayed by our technology and business partners. Their unwavering dedication not only addressed long-standing challenges but also propelled Bank Alfalah into a leadership position in the financial industry. Today, Bank Alfalah stands on a robust foundation forged by these groundbreaking initiatives, well-equipped to navigate the ever-evolving landscape of the financial sector. The Core Banking Rollout, Islamic Banking Integration, and the Temenos Digital Platform Upgrade stand as enduring symbols of what can be achieved with visionary leadership, strategic initiative, and an unwavering commitment to excellence. Our bank's journey from aspiration to realization serves as an inspiration to the industry, showcasing the extraordinary impact of transformative initiatives well guided by the than strong technology leadership and a united, visionary project team.
Sharing the above article with following friends & colleagues as well. Many of them have been supportive and guiding in this journey.
Atif Bajwa ;
IT Operations | IT Infrastructure and Telecommunication | E-Banking | Solution Designing | New Initiative | E-Commerce | Data & Voice | Networking | Project Management | CISCO certified | PMP
1 年Dear Anwer Sb, I want to express my sincere gratitude for the trust and opportunities you provided during your tenure at Bank Alfalah from 2012 to 2015. Your visionary leadership allowed me to lead crucial projects and undergo national and international training, contributing to the bank's remarkable growth. The decision to embrace a Temenos-based core banking system under your guidance was a game-changer, positioning Bank Alfalah as an industry leader. Your commitment to excellence and resilience in addressing challenges has inspired many aspiring professionals like myself and shaped the success of the bank. Thank you for being an exceptional mentor and leader ??
Certified Enterprise Architect Professional (CEAP) | Architect of Digital Futures | Business and Technology Strategist | Tech Leadership Executive | Enterprise Innovation Architect
1 年Great read! No doubt your leadership has always been a one where success was guaranteed and on challenges we always knew that we will achieve.. Its really an honor to have worked under your leadership multiple times in career.
Systems Transformation Expert, Agile practitioner, solution provider
1 年Great insights Anwer Ali sb! Working with you on bank Alfalah tranformation project was truly rewarding. It was not only transform bank but also kick started successful careers of many of team members including me Your dedication, expertise, and collaborative spirit made a significant impact. I still remember countless long discussions on deliverables especially on migrating data. Your thoughtful perspective adds immense values to the discussions. Keep sharing your knowledge and expertise!" it's a pleasure to have been part of such a successful collaboration. Looking forward to more projects together!"
Senior Vice President! Retail Business Lead Temenos| Enterprise Project Management Offic| Bank Islami Pakistan|
1 年I am deeply honored to be part of your team, led by your dynamic, inspirational, and philosophical leadership. Your constant motivation uplifts the entire team, and I have gained valuable insights under your guidance.Anwer Ali
Stock Trader ‖ xCustomer Services Manager - Reckitt ‖ Sales Admin/Operation ‖ Distribution ‖ JDE ‖ System/Process Improvement
1 年Under the protégé of a good leadership, team members feel free and safe to perform at the best. You have all the traits and ingredients to traverse any situation and achieve the ultimate targets. Through trust, inclusion, empowerment and respect you keep the fellows energized and motivated for better outcome that is unparalleled. So real, always be blessed!