Faysal Bank Eyes on Growth through Automation

Karachi: Faysal Bank Limited (FBL) has always kept abreast with the latest developments in Digital Banking Technology and has aggressively implemented the same in all the segments, wherever required. In continuation of this endeavor In line with the bank’s core value of “Innovation” through Process automation, FBL Faysal Bank Limited has entered into Agreement with Messrs. AKS IQ for the development and implementation of a state-of-the-art trade solution.

Also read: Faysal Bank and Bank of Khyber, partner to offer Innovative Financial & Digital Payment Services

The Innovative solution will help Faysal Bank execute Import and Export Transactions in a highly automated environment and provide flexibility to perform checks on price verifications, vessel tracking, dual use of goods etc. through pre-defined checks, validations, workflows and reference data sources. 

The investment in the automation systems and processes will lead to significant improvement in overall service standards and improved customer experience while optimizing and helping bring risk levels significantly down. The Bank would be able to effectively manage the existing Risk portfolio, mitigate operation risk issues, compliance issues and also facilitate improve decision making across key departments through more robust data driven valuations. 

Speaking at the signing ceremony, Syed Muhammad Fraz Zaidi (Head of Operations) said, “For Faysal Bank, Digital and Technology as an enabler are key focus areas. We have invested significantly in this area and are now starting to reap the benefits. As we automate and digitize our products and services delivery mechanisms, we will be able to serve our customers even better and improve on efficiencies.”

Also read: SBP Issues Islamic Banking License to Faysal Bank Limited

FBL carries the highest local Sharia rating of SCFR1 by the International Islamic Rating Agency (IIRA) and provides the best and widest range of Shariah-compliant banking products and services to meet their customer’s Halal banking needs with convenience. With an expanding network of almost 700 Islamic branches, Faysal Bank has a footprint in 253 cities/towns across Pakistan.