Vice President of Science announces the establishment of artificial intelligence-based neobank
Bank S will officially launch on August 26 next year
At the signing ceremony of a cooperation agreement with the Central Bank to develop the ecosystem of financial and banking businesses, the Vice President of Science announced the launch and commencement of operations of "Bank S", a neobank based on artificial intelligence, coinciding with Entrepreneur Day.

According to the Communication and Information Center in the Vice Presidency of Science, Technology and Knowledge-Based Economy, Hossein Afshin, during the signing ceremony of the cooperation agreement with the Central Bank, announced the launch of "Bank S", a neobank based on artificial intelligence technology in cooperation with various operating banks and relying on the capabilities of knowledge-based companies, and stated: "Within the framework of this cooperation agreement, a smart neobank called "Bank S" will be supported."
The Vice President of Science announced the identification and support of a capable team to launch this neobank within the next two months and its official unveiling by August of next year, and said: "During the interactions we had with the Central Bank and using the funds available to the Vice Presidency of Science, the launch of this smart bank was put on the agenda in the form of this agreement between the Vice Presidency of Science and the Central Bank, which will officially begin operating on Entrepreneur Day."
Stating that artificial intelligence technology will be used to create and launch "Bank S" with the help of knowledge-based companies, he said: "With the support and cooperation of the Vice Presidency of Science and the Central Bank under this cooperation agreement, the smart neobank based on artificial intelligence technology will be able to bring about a new revolution in providing monetary and banking services to the people."
Cooperation between banks and knowledge-based companies to create "Bank S"
Masoud Hamedanlou, Secretary of the Digital, Connectivity and Communications Headquarters, said about "Bank S", a neobank based on artificial intelligence technology: Initial agreements have been made to establish "Bank S" and the groundwork has been laid for the allocation of initial credits.
Referring to the initial agreement between the Scientific Vice-Minister and the Central Bank to launch this neobank, he said: "One of the distinguishing features of this neobank is the participation of knowledge-based companies and various operating banks. This neobank will not rely on a single operating bank, and various banks will play a role in the management of this neobank. The neobank will provide facilities based on "social credit", which is a different method from the usual methods in banks."
Hamedanlou stated: "A call will be announced soon to identify and review the plans of companies that can design such a platform. After the reviews, a capable company will be identified and the process of creating a neobank will proceed with the support and interaction of the Vice Presidency of Science and the Central Bank."
It is worth mentioning that "Bank S", which is being established with the support of the Scientific Vice-Ministry and by knowledge-based companies and in cooperation with the country's banks, offers its services online and without the need for a physical branch. This neobank uses modern technologies to provide financial services to customers and will focus heavily on a simple and user-friendly user experience. Performing all financial and banking services online, ease and speed in conducting transactions and receiving online services, reducing costs due to the digital structure, and global accessibility that allows customers to use services in different countries are among the advantages of "Bank S".
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