Sorena Sattari, Vice President of Science and Technology, referring to the effective role played by the Melli Bank in supporting and developing innovative banking using fintechs, said: Until recent years, knowledge-based and creative companies in the financial and banking fields did not play a significant role in the country's banking system. However, by recognizing the advantages and innovative methods of fintechs, a significant part of financial transactions is done by these companies in the shortest time and with the least errors.

Emphasizing that knowledge-based and creative businesses will undergo fundamental changes in the traditional way of banking, he continued: banking will remain in a new way, but the structure of the bank will change, and the form and method of finance and banking will definitely undergo transformation.

The Vice President of Science and Technology emphasized the importance of education and training of creative and educated human resources, which will have a direct impact on the prosperity and development of modern banking. This country with this extraordinary capacity in human resources definitely needs an innovative method and structure in banking.

The head of National Elites Foundation, stating that Iran's financial and banking structure with such biases requires a different approach and attitude in valuing innovation, continued: the innovative view must also exist in banking; Of course, in recent years, banks have been interested in innovative banking.

Emphasizing that the traditional actors of the economy must invest in new structures, otherwise they are doomed to failure, Sattari continued: If banks want to remain competitive and grow in the future, there is no other way than to support and invest in innovative fields.

He added: "Creating investment innovation centers and supporting top talents and elites can be the basis for creating employment and development of the country. We are ready to develop the capacity of elites in a platform such as the Melli Bank based on the new strategy of attracting elites in the government structure." This model should spread so that other sectors also tend to this benefit.

Transformation in financial and banking structures

He added: With the development of new banking and financial approaches, the financial structures have been moved in this direction and that with the use of artificial intelligence technologies, data and information technology and appropriate service communications.

Finodad innovation center has been launched to accelerate innovations on the path of providing service models based on innovation of knowledge-based and creative companies, and to pave the way for private sector investment in this field.

provides innovative solutions in the field of finance, banking, exchanges and facilities by using innovation and modern technologies, he continued: The second step of the digital transformation program of Melli Bank are plans to implement this process with the help of fintechs and knowledge-based companies and to advance creatively. Effective communication with all stakeholders and participants in this area to become an innovative bank was put on the agenda of this innovation center.

Transformation in the financial system of the technological ecosystem with the law of knowledge-based production leap

The vice president of science and technology, pointing out that a new development has taken place in the knowledge-based economy with the help of the knowledge-based production leap law, continued: this law is one of the most important requirements for the growth and prosperity of knowledge-based and creative companies, and the path of two next decade will set the rails for this ecosystem. The legislative system must create a breathing space and growing activity for this ecosystem, and the law of knowledge-based production leap is responsible for such a mission.

Stating that this ecosystem is formed and developed with the help of the private sector, he said: The investment of the private sector is on the priorities and the implementation of plans that target a product or service that fits the needs of the society. Therefore, the investment of this sector is on research that guarantees the product and efficiency.

Sattari, referring to the penetration of innovation in the structure of providing facilities and investing in innovative ideas, continued: This ecosystem is actually a fertile and rain forest that has grown naturally, and in the development of this ecosystem, innovative concepts should be implemented in financial support. And not limited to giving loans, to realize this growth and development. Innovative methods of investing in the role of the stock exchange, the new role and structure of research and technology funds, support for universities in the field of research, tax credits for research and development of large companies, and tax protections that have been seen in the production leap law are all part of the support that provide the purpose of private sector investment in research for the development of knowledge-based and creative economy.

The Vice President of Science and Technology continued that the share of investment in research is 88 percent: Of this amount, half a hundred percent is still provided by the public sector, and the more we increase the role of the private sector in research, the knowledge-based and creative economy in Society will find a bolder concept.

Supporting the creation of an environment for the establishment of innovation and technology ecosystem activists

Sattari, pointing out that revitalization of places and urban spaces for the development of knowledge-based economy is considered in the Law of Production Leap, said: We are looking for the transformation and revitalization of existing places into platforms for establishing knowledge-based and creative companies, and the action of banks to support allocating the establishment space to the ecosystem of innovation and technology.

The head of the National Elites Foundation, stating that knowledge-based and creative companies are on the way to receive a significant share in the economy and development, said: science and technology parks and universities are enhancing their role in the economy. There is a current investment of 15 thousand billion tomans in Pardis Technology Park and this procedure should be implemented in universities, other science and technology parks and other parts of the country. We are seeking to increase the share of knowledge-based and creative companies in the gross production, and in this direction, the very good human resources that exist in universities can make this goal a reality while realizing innovative banking.

Transformation in financial and banking structures

He added: With the development of new banking and financial approaches, the financial structures have been moved in this direction and that with the use of artificial intelligence technologies, data and information technology and appropriate service communications.

Finodad's innovation center has been launched to accelerate innovations on the path of service delivery model based on innovation of knowledge-based and creative companies, and to pave the way for private sector investment in this field.

He stated that the valuation and validation of knowledge-based and creative companies by banks needs to be transformed and continued: The valuation and pricing of banks on knowledge-based and creative companies brings with it new concepts that require culturalization. If we want the knowledge-based economy to grow and prosper, the banks' view on the valuation of these companies should change, and when a knowledge-based company seeks to receive facilities and investment, it should be able to do so easily and in the shortest possible time. This valuable approach has now been realized in the Melli Bank, an approach that will ensure the future of the bank and will provide the basis for moving on the path of future banking.

Communication and Information Center in the Vice Presidency of Science and Technology