KARACHI: In compliance with the recent directives of the State Bank of Pakistan (SBP), Khushhali Microfinance Bank Limited (KMBL) has now deployed the most innovative technological solutions for enabling the customers (all resident-Pakistanis) to digitally open their Asaan Digital Account and operate it through contactless interactions, very conveniently and effectively.

This account has no initial deposit requirement. The customers can now open their Asaan Digital Account, while sitting comfortably at their home. They simply have to submit their basic details with Computerized National Identity Card (CNIC) number to register, on the website of Khushhali Microfinance Bank.

It provides access to a complete range of financial services, on-the-go, round-the-clock, without visiting any bank branch. In the post-Covid era, this new digital ecosystem will help enforce the social distancing protocols, while the digital ecosystem will ensure “customer due diligence,” to help banks/MFBs in customer identification and verification for better risk management.

The President & CEO of Khushhali Microfinance Bank, Ghalib Nishtar stated that: “Being the largest developmental microfinance bank, we are delighted to have achieved another great milestone, as we continue to inspire Pakistan’s banking sector to progress, in sync with the global digital revolution. Khushhali Microfinance Bank has also adopted the State Bank’s new digital regulatory framework for customers’ onboarding process, to promise more convenient and secured banking experiences.”

Abdul Wahab Majeed, founder of Sahal Verifai, Pakistan’s first and only regulated facial biometric based eKYC platform, spoke on the development: “We have made history through this collaboration with Khushhali Microfinance bank by remotely onboarding customers using facial biometric with a 100% success rate.”

Copyright Business Recorder, 2022