RAWALPINDI - The Rawalpindi Chamber of Commerce and Industry (RCCI) organized Financial Technology conference (FinTech) here on Tuesday.

The major purpose of this conference was to promote Information Technology (IT) and to bring awareness among key stakeholders for its use in financial management, lowering cost of production and enhancing innovation towards their businesses.

On the occasion, FFC CEO Tariq Khan, who was chief guest on the occasion said that financial management offering big challenges and adaptation of modern information technology can help consumers in a big way.

He said that joint efforts are required from the society and the government to evolve our key financial sectors including banking, insurance and corporate sector into modern digital format.

The use of Information Technology is growing very fast and we must ready to meet the future challenge of security under financial management, he added.

Tariq Khan also appreciated RCCI role in promoting IT industry in the region and lauded for organizing Financial Technology Conference.

Earlier, President RCCI Zahid Latif Khan in his address said in Pakistan the IT industry has great potential and urged Government to provide favorable environment in the country for the promotion of IT in different sectors including e-Banking, Medicine (telemedicine) and manufacturing (e-designing).

He said in recent years E-commerce has doubled its penetration in Pakistan and said this will further grow in coming days.

It contributes around more than $2.8 billion in the country's export in IT sector and with government support this can be enhanced to 5 billion dollar in next three years.

The RCCI chief also highlighted key initiatives of RCCI in promoting IT in the region including ICT awards and E-Health Conference.

With the increase of internet penetration in Pakistan, the IT sector offered huge potential for local companies to join hands with multinational companies, he added.

Zahid said e-commerce is the future mode of conducting business, and will provide an opportunity to small and medium enterprises (SMEs).