Banking Technology

KARACHI: Avanza Premier Payment Services (APPS) and HabibMetro Bank signed an agreement to enable ‘PayFast’, APPS’ end-to-end payment gateway, to provide a secure and reliable service for e-commerce and m-commerce transactions. This gateway will allow customers to make payments through their bank accounts or debit cards, a facility that is currently offered on a very limited […]

KARACHI: Pakistan Stock Exchange (PSX), one of the best performing stock exchanges in Asia over the last few years, has selected Oracle for seeking help to enhance the security and integrity of its data. The move is part of the ongoing proactive stance adopted by PSX to ensure that the most modern systems are in […]

Mastercard, a leading technology company in the global payments industry has announced a strategic collaboration with NADRA technologies to optimise National ID cards with electronic payments facility. Pakistani citizens will be able to use their national identity cards (CNICs) to carry out financial transactions and receive government disbursements. This was announced at World Economic Forum Annual […]

Individuals and businesses, including startups, are benefiting from online banking, but the doors to new opportunities have yet to fully open. Internet and cell phone banking help companies and businesses get instant access to bank accounts, conduct business-to-business (B2B) and online transactions. From airlines, utilities, mutual funds, super food outlets, insurance companies and fertiliser and […]

ISLAMABAD: The Federal Board of Revenue (FBR) has asked banks to improve their reporting system to bring it on a par with International Reporting Standards (IRS) for the exchange of financial information regarding bank accounts of non-residents with members of the Organisation for Economic Cooperation and Development (OECD). “All banks have been advised to improve […]

ISLAMABAD: Pakistan has witnessed an amount of Rs. 1,492 billion which was transacted through Mobile Banking during 2015-16. This is testimony of the fact that transaction through mobile money has potential to expand reach of banking services to 85 per cent unbanked population of Pakistan. During October to December, 2015 the total volume of branch-less […]

Karachi—In order to effectively monitor imports into Pakistan, State Bank of Pakistan and Pakistan Customs have launched and implemented Electronic Import From (EIF) Module in WeBOC (Web Based One Custom), the IT system of Pakistan Customs w.e.f. September 1, 2016. The said Module has been developed in consultation with all the relevant stakeholders including the […]

KARACHI: Standard Chartered recently launched the Correspondent Banking Academy eLearning portal in Pakistan. This portal would share the bank’s knowledge and experience in Financial Crime Compliance (FCC) with its Financial Institution clients in Pakistan, said a statement on Thursday. The inauguration ceremony was held within the premises of the State Bank of Pakistan (SBP). Representing […]

Meezan Bank Ltd, the largest Islamic bank in Pakistan, is using Oracle Exadata Database Machine to cut the close of business time by 30 per cent. Meezan Bank was also able to reduce their data center footprint by running their core banking database on Oracle’s flagship engineered system.“Banks in Pakistan are increasingly adopting Oracle Exadata […]

KARACHI: Meezan Bank Ltd has been using Oracle Exadata Database Machine to cut the close of business time by 30 percent. “Banks in Pakistan are increasingly adopting Oracle Exadata Database Machine to run their core banking applications and experiencing significant performance enhancements,” said Waqas Hashmi, country sales director – technology business, Oracle Pakistan and Afghanistan. […]