Faysal Bank and NIFT Collaborate to Revolutionize Paper Cheques with Digital Solution

Karachi, May 29, 2023 (PPI-OT): Faysal Bank Limited and National Institutional Facilitation Technologies (Pvt.) Ltd. (NIFT) has agreed on a digital collaboration roadmap starting with the Digitization of Cheque Deposits, a significant step towards paperless banking. Both entities will be joining hands to offer customers a secure, convenient, and digital alternative to traditional paper-based cheques.

This planned initiative of digital cheque deposits, powered by NIFT, will empower Faysal Bank customers to digitize paper cheques via Faysal Bank’s mobile app providing customers with faster processing times, and an improved experience.

Commenting on the occasion, Amin ur Rahman, Chief Digital Officer of Faysal Bank stated, We are excited about this collaboration with NIFT, for the introduction of new and innovative digital solutions, and by combining our banking expertise with NIFT’s technological capabilities, the aim is to challenge the status quo in the traditional banking space.

Mr. Javed Edhi, CEO of NIFT, also shared his excitement about the collaboration, stating, We are delighted to collaborate with Faysal Bank to implement the NIFT Digital Cheque Deposit solution as a step to shift paper-based cheque submission for Clearing via Bank’s Mobile App. By partnering with Faysal Bank, we can facilitate the smooth implementation and a unified customer journey.

For more information, contact:

Head Office,

Faysal Bank Limited

Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan

UAN: +92-21-111-747-747

Fax: +92-21-32795234

Email: corpcomm@faysalbank.com

Website: www.faysalbank.com