Bank Alfalah & Karandaaz Pakistan To Provide Digital Financial Services in Pakistan

Bank Alfalah and Karandaaz Pakistan recently signed two agreements to collaborate and develop innovative, digital financial solutions in Pakistan. Under the first agreement, Karandaaz Pakistan will provide technical assistance to Bank Alfalah for the development of a digital strategy that will help the bank offer digital financial services to its customers, particularly the under-banked segments of the market. The second agreement focuses on digitization of supply-chain payments and conversion of cash transactions to wallet account-based transactions. A few thousand retailers are expected to be digitized in the pilot phase.

Speaking at the occasion, Mr. Atif Bajwa, President & CEO Bank Alfalah said, “At Bank Alfalah, we are committed to enhancing financial inclusion by reaching out to the unbanked populations who have limited access to financial services. This partnership will help us to provide innovative supply-chain payment solutions to meet the changing needs of our customers.”

Imdad Aslam, Interim CEO, Karandaz Pakistan said, “In order to bridge the gap between the banked and the unbanked and reach out to remote and marginalised populations where access to financial services is limited, building a deeper understanding of alternatives to brick-and-mortar banking is of utmost significance. I am excited about this two-fold partnership with Alfalah and look forward to learning about retailer motivation so that appropriate incentivization structures can be designed to digitize payments at a larger scale.”

The signing ceremony took place at Bank Alfalah’s office in Islamabad and was attended by senior representatives from both organisations.

Comments

NADRA Makes a Substantial Reducation in Smart ID Card Fees

The fee for the Smart National Identity Card (SNIC) has been decreased by NADRA. Interior Minister, Chaudhry Nisar, has ordered the authority to reduce the fees for the smart ID cards substantially, we have learned. Smart National Identity Card The smart ID card contains a QR code for easier and faster identification as well as a data chip with 36 security features which makes it one of the most secure cards in the world. Each layer of the card comes with its own security features and it also has secure communication protocols for remote identification. A large amount of space on the card has been made available for the private sector to utilise for their products and services. Although, its expensive private sectot to use this card, once the number of smart card users in the country reaches critical mass, it will be much more profitable for them to use this universal and secure platform. New Fee Structure NADRA has decreased the fee for smart ID card from Rs. 15...

World’s First Urdu Speaking AI Assistant Launched

C-Square, in collaboration with Genesys, has launched the world’s first Urdu-based speaking AI bot called RUBA at the Smart CX conference in Karachi. Similar to Apple’s Siri, Google’s Assistant and Microsoft’s Cortana personal assistants, RUBA is an abbreviation for Real Urdu Bot Automation. The bot can speak and understand Urdu while working as your personal assistant in performing tasks such as messaging someone. Read Related: www.thepakupdates.pk C-Square CEO, Ahsan Mashkoor demonstrated the bot at the conference, saying: RUBA was made in Urdu because of the local population in Pakistan, and for the large labour force working in the Middle-East. Federal Minister for States and Frontier Regions (Safron), Shehryar Khan Afridi, appreciated the efforts of C-Square, saying that Pakistan is moving in the right direction in terms of technology. Talking about the importance of Urdu, he said: It is important for us to learn English, it is good that we learn Chines...

Online Passport Renewal Service Revealed in Pakistan

Like we told you earlier about the NADRA’s online passport system that they have been developing for quite some time now and it appears that we have finally a sneak peak of what it will look like at the time of launch. NADRA and Directorate General of Immigration and Passports have collaborated to offer Pakistani citizens a service that they badly needed, i.e. to be able renew their passports online without going to Passport offices. Service would be aimed for both Pakistanis living in Pakistan and abroad. Service is currently not available immediately, but it is said that service will be made available very soon now. Anyone with an expired passport or if its validity is less than 7 months would be able to ahead and apply for passports online and get the renewed passport delivered to a designated postal address. Apply for Passport Renewal Online Make sure you have all supporting documents available with you. You should...

Pro Pakistani

Search This Blog