Inside Pakistan’s First Retail Banking Conference
“Retail banking is really the beating heart of banking — where you come into contact with the most diverse range of customers,” said Atif Bajwa, President and CEO of Bank Alfalah Limited. That sentiment echoed throughout the inaugural Retail Banking Conference held in Karachi under the theme “Reset.”
Hosted by Green Peak International in April 2025, two months after the first Pakistan Banking Summit, the event brought together industry leaders, digital innovators, and policymakers, marking a pivotal shift in how Pakistan views its retail banking landscape. The conference featured six panels on topics like digital transformation, customer experience, and wealth management. The undercurrent was clear: the sector stands at a defining moment.
Pakistan’s retail banking system is grappling with serious gaps — not only in inclusion but also in quality. A significant portion of the population remains outside the formal banking system. Even for those with access, services are often shallow and inadequate. These shortcomings have become more glaring as the digital economy accelerates, bringing in more young competitors.
The need to upgrade service delivery, rethink long-term financial products like pensions and savings, and adopt collaborative strategies was underscored throughout the conference. Speakers emphasized that traditional banks must balance their institutional strengths — such as stability and access to capital — with the agility and user-first mindset that fintechs are mastering. Partnerships between the two will be crucial to deliver better customer outcomes.
The conversation also turned inward, confronting the sector’s cultural and organizational inertia. From closed mindsets and institutional egos to talent gaps, the industry faces an urgent call to evolve. One speaker openly criticized banking culture’s resistance to innovation and collaboration. At the same time, “customer obsession” was framed as a non-negotiable mindset shift — not a strategy, but a necessity.
There was also a deeper concern about talent readiness. As the industry transforms, so do the skills it demands — be they in finance, customer experience, or digital literacy.
“As the customers’ needs are changing, so are the requirements from bankers. So are we investing in developing the right skill sets? Probably not enough.”
As these challenges were discussed, Salman Sarwar Butt, CEO of Green Peak International, made it clear that the conference was not a one-off. Supported by the Pakistan Banks’ Association, a series of follow-up seminars and initiatives will continue to push the conversation — and the industry — forward.
What does a meaningful reset look like for the future of banking? Let us know in the comments!
This article was developed with the assistance of AI tools.
