— Venkatesh Kallur CRO , Alizz Islamic Bank

multinational banks transfer money instead of moving the physical tender ”. However , he maintains the skepticism of a risk-assessment veteran . “ Cryptocurrencies might give a little bit of operational ease , but they come with their own risks . At this point in time , for example , cryptos are intangible , illiquid and , to a large extent , uninsured . That can lead to extortion and manipulation ,” Kallur says , “ Don ’ t get me wrong , I understand the potential , but there is more to do before it can be universalised . It needs to be adoptable , dependable ; regular investors – not just the fast movers – need to be protected .”

While CROs like Kallur have less than bullish attitudes to emergent technologies like blockchain , he maintains that the adoption of technology to better process data is at the heart of Alizz Bank ’ s digital transformation strategy . “ With respect to banking in the Middle East , whichever bank that you look at in the region has data quality issues . To me , data is information , information is power , and that ’ s where we should be focusing .” Since starting at Alizz , Kallur has brought in several enhancements in Policy Framework and Credit Underwriting Strategies through Risk Appetite Framework and Target Market and Risk Acceptance criteria , along with required analytics , which provide a 360-degree view of risks at enterprise level , as well as mapping the skillset , bandwidth and the needs of the company through a monthly CRO dashboard .”

Looking to the future , Kallur says : “ Information technology , information security and digital banking – be it on mobile phones , computers or tablets – all need to be considered .” He agrees that the introduction of new technolo-

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