PROGRESS, PERSONIFIED

In a conversation, Aleya R Ikbal, Head of IT & Business Transformation of IPDC Finance, elaborates on her journey as the first female Head of IT in the Finance sector of Bangladesh, the challenges to technology transformation, and how we can create more successful female leaders across industries.

 

ALEYA R IKBAL
Head of IT & Business Transformation
IPDC Finance

 

 

FROM A DIRE POSITION IN 2005-6 (DUE TO INCREASING NPLS), IPDC HAS TURNED THINGS AROUND TO BECOME ONE OF THE LEADING NBFI IN THE COUNTRY IN JUST OVER A DECADE. WHAT HAS BEEN THE SECRET OF IPDC’S INCREDIBLE RUN IN BANGLADESH’S NBFI SECTOR?
IPDC has turned itself around to become one of the top NBFI in the country. A lot of the credit for the success is owed to our unconventional and innovative products, technology initiatives, and ways of investing in people. Over the past decade, we have launched numerous products and embarked on various underserved segments like women and youth. IPDC has always been focused on women empowerment externally and internally. We have curated special schemes to support women in their journey toward becoming independent. IPDC has also embarked on different products intending to facilitate the growth of our young population. Perhaps, the most consequential initiative behind the remarkable growth has been the technology drive. Technological innovation has been at the very core of our expansion strategy. It allowed us to reduce bureaucracy, automate processes and reduce turnaround time.
So, as we invested more and more in technology, we were able to provide the service faster. The other thing that I mentioned is people. IPDC has heavily invested in resources to onboard talented individuals and build them to facilitate enhanced services for our customers and the industry. Ultimately, I would say that customer service puts IPDC at the top.

 

 

IPDC HAS ALWAYS BEEN FOCUSED ON WOMEN EMPOWERMENT EXTERNALLY AND INTERNALLY. WE HAVE CURATED SPECIAL SCHEMES TO SUPPORT WOMEN IN THEIR JOURNEY TOWARD BECOMING INDEPENDENT.

 

 

OVER THE SAME PERIOD, IPDC HAS INVESTED SIGNIFICANT RESOURCES TOWARD TECHNOLOGICAL TRANSFORMATION. HOW HAVE THESE CHANGES HELPED THE COMPANY ENHANCE ITS CUSTOMER SERVICE OR CLIENT SERVICE?
As I mentioned in my previous response – People, Process, and Technology – these three things are essential for an organisation to grow. As we started to grow, we realised that besides creating a competent workforce, we needed to invest in technology to be able to bring efficiency in our processes. So, I started looking into the state-of-the-art technologies we would need for digitisation. I started looking into our market, and we did our best to pick the best resources for technology. Little by little, we grew our team. For obvious reasons, some industry-standard products are not always available in Bangladesh, so we had to procure them from outside of the country. For example, we invested in Temenos T24, the top core banking system in the world right now. So, if we didn’t invest in competent resources, we wouldn’t be able to deliver these products and services to our customers. It has paid off.

 

 

 

 

AS A VETERAN BUSINESS TRANSFORMATION LEADER WHO HAS WORKED IN THE US AND BANGLADESH FOR MORE THAN TWO DECADES, CAN YOU PLEASE TALK ABOUT THE CHALLENGES THAT IMPEDE THE PACE OF TECHNOLOGICAL TRANSFORMATION IN BANGLADESH’S NBFI SECTOR? HOW CAN WE OVERCOME THEM?
A few things. Technological challenges are common everywhere in the world. Interestingly, I’ve seen similar challenges in the US that I see in Bangladesh whether it was a leading private organisation like T-Mobile USA or a government organisation like the City of Seattle, Washington. The challenge is ‘change management.’ Irrespective of geographic location, people tend to operate within their bubble and disapprove of attempts to change the status quo. However, because we have a very young workforce, we have managed it pretty well internally. When it comes to the overall industry, it’s challenging for a sole financial institution to transform a sector. We need further collaboration in the industry.
Regarding the industry, finding good resources has been another challenge. Promising students in our country often leave for better opportunities abroad. As a result, we have to go outside of the country and hire other companies to do the work for us. If we were to create those opportunities for new graduates and create a playfield for them to explore different technologies such as AI, blockchain, and machine learning, we would be able to hire local talents. We have to create opportunities for young resources so they can learn and deliver. So, for the industry as a whole, if we start collaborating with local universities, technology companies and build proof of concepts, that investment will pay off in the long run.

 

IN ANY LEADERSHIP POSITION, FIRST AND FOREMOST A WOMAN NEEDS TO GET A SEAT AT THE TABLE. SHE NEEDS SUPPORT FROM HER FAMILY AND THE INDUSTRY.

 

 

OVER THE PAST TWO DECADES, YOU HAVE HELD LEADERSHIP ROLES IN GOVERNMENT AND PRIVATE SECTORS IN IT, FINANCE, MANUFACTURING, PHARMACEUTICAL, AND TELECOMMUNICATION IN THE US AND ASIA. WHAT HAS BEEN THE MOST REWARDING ASPECT OF THE EXPERIENCE?
I have to bring in the gender issue here. Although I held leadership roles at both private and government organisations in the US, interestingly, it was a bit different in Bangladesh. I’ll start with an example. In Bangladesh, the first time I joined IPDC, I went to a major organisation here to do a presentation on blockchain. When I gave my business card to one of the senior executives, he was surprised to find that I am the head of IT and exclaimed, “Oh, Head of IT, Female?” I took that as a compliment because I was the only female head of IT in the finance industry at the time. Currently, there are 3 or 4 female Heads of IT, and I see that as a positive change. So, the most rewarding aspect of my career would be contributing to breaking the glass ceiling for women in the technology sector. When I moved back from the USA and started my career here, the young female technologists who wanted to be in my position would come to me and express their desire to replicate my success. When somebody sees you as a leader they aspire to be, that’s rewarding.

We talk about changes; we talk about female empowerment. However, to be successful in any leadership position, first and foremost a woman needs to get a seat at the table. She needs support from her family as well as the industry. So, when those three things align, you can be successful. In my case, I aspired to be an IT leader. I got the help from my family, the support that I needed from my husband, my kids, and my parents, and I would also say I got the support from the industry because IPDC trusted me. So, I would say I broke that bias of not having a female IT head in the financial industry. It is rewarding to know that we’re headed in a positive direction with more and more female leaders in our tech industry, especially in Fintech.