Digital banking: from payments to prosperity

#Digital #banking #payments #prosperity

The rise of digital banking offers an unprecedented opportunity for consumers to facilitate consumers through financial inclusion, deep social movements, reduction of poverty and expanding economic participation from borders.

ASPisa has revolutionized millions of people without the need for any physical bank branch, and has revolutionized payments by enabled, paying, paying bills, and making online purchases. For students, freelancers, e -commerce businessmen, domestic makers and shopkeepers, mobile wallets have become an essential tool for daily financial transactions.

Digital banking creates opportunities and makes financial services accessible, affordable and easy to use for everyone out of the basic features of the wallet. Digital bank will be able to graduate users with a full suit in digital banking users with financial services, while enables millions of people who are still under and influenced by the country with a cheap, fast and better solution.

The journey to Espessa, which started the payment revolution in Pakistan, is now ready to provide consumers with payment and access to capital, and provide them with ways to save, save and protect them. We are working in a superp app on the direction of an environmental system of products and services that customize consumer needs at home and internationally.

By offering a digital access to the capital through a micro loan, including non -loan and purchase services (BPNL), which allow small business owners and influence communities to access small loans, we have now launched an insurance market that offers more than 50 different projects. We are enabling access to quick insurance protection for a collective community that may not even imagine access to services in the past.

Digital banks increase access to digital savings accounts to large audiences, and those who do not use traditional bank to safely save, while also gaining competitive profit. Several ways to save and invest products such as reserves that were available only to branch -based consumers can now be digital access and investment on your finger. The dream of investing in equity -based funds is now accessible to our youth who can now do this digitally without the need to go through a paper -based process.

This democracy of financial services, recognizing its strength, flexibility and technology capacity, creates a follower in place of fantasy and payments, which can enable development for the industry. The recent upgrade of credit rating for Eztepasa Digital Bank is a period of financial stability, stability and confidence of external auditors and rating agencies in the first digital retail bank in Pakistan that has already been entrusted with millions of people. We are implementing it by improving customer experience and activating a world -class risk management system.

In Pakistan, the path to widespread financial inclusion and prosperity is not such that any organization or institution can run alone. This requires collective action between the government, regulators, financial institutions, tech companies, consumers and policies that promote innovation.

As an encouragement, Pakistan’s regulatory environment is ready to support this pace. The State Bank of Pakistan (SBP) has played a progressive role in democratic financial access and enabling a new wave of digital first services. This progress points to a solid ecosystem – one that is rapidly responsible for its population -ready needs.

The purpose of the Pakistani government’s cashless economy is to accelerate digital payment, reduce cash use, and change the country’s retail and public transaction infrastructure. Such will continue to contribute with the public and private sectors to promote the growth of cashless Pakistan through an ecosystem that is Telko and Bank Agonostic.

However, challenges with high cash in circulation in the country remain. There is a dire need to raise awareness of financial literacy between the lower levels, set policies to propose customer and merchant value to adopt high -speed digital payment, and increase the customer trust while making cash transactions more expensive.

When we go one step closer to World Finctic Day, we remember the immense potential in Pakistan’s financial sector and our long way. They are proof of the fact that if benefited well, digital banking is a catalyst for change and involvement. From payments to prosperity, this is the bridge that will connect millions of Pakistanis with the tools they need to promote in the digital world.

The author is the CEO of the Eztepisa Digital Bank.