The emergence of new technology has shaped the way banks conduct their business. Today, technological advances in hard and software contribute to ease and speed of banking transactions. BSI puts much emphasis on the implementation of state-of-the-art technology inside its system for improving efficiency, profitability and customer satisfaction.

SEPEHR Online Services

BSI first introduced its SEPEHR system, a Persian abbreviation for "Computerized Real-time Processing System", in 2001. This advanced electronic banking system allows automated payment transactions between branches in real time.

SEPEHR, based on state-of-the-art software and supported by VSAT satellite technology substantially speeds up banking activities and helps clients to access banking services in any branch throughout the country. SEPEHR not only contributes to higher customer satisfaction but has through higher quality, speed and efficiency of banking activities also a measurable impact on Iran's economic growth.

Convenience: Customers can render all payment transactions from all branches of BSI that are connected to the SEPEHR network. As such, the customer is no longer limited to the branch where his/her account was initially opened.

Transaction speed: SEPEHR executes and confirms transactions in real time across the entire network. In the future, it will also be linked to electronic networks of other banks.

Efficiency: In addition to having access to the account via all connected branches, the customer can access information on his/her account also through the internet, telephone and SMS service, 24 hours - 7 days a week. This should result in a significant saving of time and cost for both - the Bank and its customers.

SEPEHR card and account holders are also able to pay their utility and telephone bills through ATM machines or telephone banking.

Effectiveness: SEPEHR system is designed to be compatible with all other national online banking systems. Debit, credit, and prepaid cards issued by BSI can be utilized by ATM and POS terminals installed by other Iranian banks and vice versa.

Currently BSI Network has 1,831 branches connected to the SEPEHR system, offers 24 hour service through 739 ATMmachines and as well as 2,000 POS machines in shops and supermarkets across Iran.

With the growing popularity of the SEPEHR system, many long-term customers of BSI are changing their traditional accounts into SEPEHR accounts. At the balance sheet date, 40% of all deposit accounts where SEPEHR accounts, holding 38% of the Bank's total customer deposits. In branches already connected to the SEPEHR system 60% of deposits are in SEPEHR accounts. By March 2006, more than 7.2 million SEPEHR accounts existed in the BSI Network and more than 2.5 million cards were issued to customers, presenting an 85% and 75% increase compared to the previous year respectively.