We live in a digital age and hence, no institution of the global economy can be immune from automation

and the advent of digital means of operations. Banks and financial institutions were among the first
adopters of automation considering the humungous benefits that they get from embracing IT
(Information Technology). the reason why banks and financial institutions rapidly embraced IT is that
their operations when done manually take up a lot of time and effort from their staff as well as making
them do routine activities over and over again leading to loss of productivity and missing the chance to
move up the value chain. On the other hand, automation reduces the redundancies in their operations
and frees up staff that can be deployed for activities that are more productive. Moreover, the chances of
fraud are minimized because of automation.

In addition, banks like Al Baraka have realized that they can report regulatory and legal requirements to
the regulators in a better way through automation as well as the fact that storing historical data and
storing customer details for extended periods is made easier because of automation. Main challenges
faced with the automated system is that Manual accounting with paper and pencil is much cheaper than
a computerized system, which requires a machine and software. This process proved to be costly and
time consuming. Other expenses associated with accounting software include training for using the
updated system and program maintenance.

Al Baraka Bank had 150 branches which have been powered by Auto Soft Dynamics’ purpose-built
Shariah compliant Islamic Banking system, AutoIBANKER since 2006. Al Baraka had also implemented a
range of AutoSoft’s vertical niche products for complete end-to-end automation including its
Commercial and Consumer Islamic Financing (AutoIBANKER Islamic Financing), Trade Finance
(AutoTRADE), Treasury (ADAMS) and offers a wide array of Islamic financing products such as Murabaha,
Ijarah, Musharakah and Islamic Export Refinance etc. A comprehensive MIS system is attachable to all
of these modules, which allows for both Central Bank and management reporting.

Through the automation system bill payments, internal fund transfer, sms alert, chequebook request
will be made easier. Making it easier for customers to pay online without visiting the bank.

Furthermore, Al Baraka Pakistan Limited introduced integration testing between its core banking
platform and NADRA’s Biometric Verification System. It has been directed that issuance of cheque
books/ ATM cards, or any other instrument and transaction in accounts not be allowed until biometric
verification of the customers has been completed and verified from National Database and Registration
Authority (NADRA). By taking on the robust Biometric Verification System that is integrated with
AutoSoft’s core banking platform and NADRA using their standard API’s, the bank can offer a seamless
solution for customers opening accounts and complying with State Bank’s regulations. The bank can
furthermore make use of biometric technology at the branch level for identity verification of their
customers and can also subsequently be extended to allow for biometric verification for locker
operations, transaction approvals, or other transactions as may be required by the bank to offer their
customers enhanced security.

Thus people environment would include the employees/ staff of the bank, NADRA etc.