Informatics Services Company identifies banking data as AI foundation

Arash Ganjo, Deputy of Operations at the Informatics Services Company, has identified the extensive data within the national banking network as a critical foundation for developing artificial intelligence systems in the banking industry. He noted that the banking network holds one of the country’s most significant repositories of financial data, including transaction records, metadata, and augmented data.

Ganjo emphasized that for these data assets to create value, several prerequisites must be met. These include establishing clear ownership frameworks, determining the extent to which banks and service providers can utilize data, and ensuring robust data governance. He stressed the importance of legal frameworks and policy-making to regulate data usage before expanding AI-driven applications.

Furthermore, Ganjo highlighted that standardized data categorization and proper rules for storage and access are essential. He pointed out that analyzing transaction patterns can reveal valuable economic and behavioral insights, such as distinguishing the financial patterns of different professions, which can serve as a basis for value creation within legal and governance boundaries.