Bank Alfalah, Warid Telecom join hands for branchless banking

Karachi: Bank Alfalah Limited BAFL, Pakistan’s 6th largest bank and Warid Telecom, both owned and operated by the Abu Dhabi Group have joined hands for their upcoming branchless banking services in Pakistan.

The technological support for this collaboration is being provided by Monet and the pilot testing launch is currently underway as approved by the State Bank of Pakistan. The two companies have been working extensively to develop a branchless ecosystem which will offer a range of customized products and services tailored to suit the evolving needs of various stakeholders including consumers, institutions, SMEs and the government.

‘We are pleased that both companies have been working in conjunction to successfully execute our shared outlook on introducing our branchless banking services. Once launched in the market, we are optimistic that both telecom and banking customers will benefit hugely from the enhanced access and convenience provided by this innovative offering,’ said Atif Bajwa, CEO Bank Alfalah.

Muneer Farooqui, CEO Warid Telecom said: “The future of the telecom industry in Pakistan lies in providing technological solutions that cater to a wide range of customer requirements which are not necessarily linked to communication only.”