KARACHI: Faysal Bank (FBL) one of the premier Islamic banks in Pakistan has partnered with DataCheck, forming the industry’s first collaboration for “Hosted Decision Engine”, licensed by Qarar. Through this initiative the Bank aims to enhance process efficiency in the consumer digital lending space through advanced credit-scoring techniques, for the enablement of instant decision-making.

The signing ceremony took place at Faysal Bank Head Office, attended by Yousaf Hussain President and CEO Faysal Bank, Raheel Ijaz Chief Operating Officer Faysal Bank Tariq Jan-CEO DataCheck, Zaid Kamhawi CEO Qarar, along with other senior management representatives from Faysal Bank, DataCheck and Qarar.

Speaking on the occasion, Yousaf Hussain, President & CEO, FBL said, “We feel privileged to collaborate with DataCheck and Qarar for this pioneering initiative. By harnessing the collective strength of our industry peers, we aim to deliver superior customer experiences, leveraging the latest advancements in ‘Automated Credit Decisioning’ technology.”

Reiterating the importance of data driven decision making, Tariq Jan, CEO, DataCheck said, “We are delighted to partner with Qarar to host a much-needed credit decisioning solution for the industry, with Faysal Bank being the first to go. There is immense value in it for the lender since the end-to-end solution is managed by DataCheck and Qarar’s teams, hence enabling automated decision for Faysal Bank’s customer.”

Copyright Business Recorder, 2024