Codebase Technologies has introduced a brand-new digital fintech offering – Digibanc™ Digital Roshan – to empower conventional and Islamic banks in Pakistan to manage seamless, consistent, and engaging customer journeys across multiple customer touch-points and drive their digital transformations.
The comprehensive digital solution aims to help banks to support overseas Pakistani customers to open their Roshan Digital Accounts effortlessly among other functions.
An initiative by the Government of Pakistan, Roshan Digital Accounts is aimed at assisting millions of overseas Pakistanis in undertaking fund transfers, bill payments, and investment activities in Pakistan. As an emerging market for fintech, customers in Pakistan are increasingly receptive to digital and innovative technologies for seamless banking processes.
Commenting on the new offering, Raheel Iqbal, Managing Partner & Global Product Head at Codebase Technologies, said, “Factors such as disruptive internet and smartphone penetration in the country, consumer preferences for social media and growing e-commerce are driving digital payments and processes in Pakistan. The government of Pakistan is also putting in place strong regulatory frameworks and laws for digital financial services, pushing the growth of fintech-led initiatives. Roshan Digital Accounts is the latest initiative by the Pakistani government and at Codebase Technologies, we aim to be the partner of choice with our new offering Digibanc™, as financial institutions embrace digital innovation.”
With the help of Codebase Technologies’ state-of-the-art and secure unified platform Digibanc™ - Digital Roshan Solutions, Pakistani banks can now accelerate their KYC processes remotely and digitally to help customers open accounts literally within minutes. With the ability to go to market in less than 45 days, banks can leverage this solution and help customers enjoy additional benefits such as digital onboarding and account services, instant access to investments, real-time 24/7 access to account services, and personalized offers to expand a larger and loyal customer base. It will also enable financial institutions to reduce costs and gain higher profitability. Boasting a highly modular, scalable, and robust open technology architecture, Digibanc™ delivers superior performance and enterprise-grade security adhering to the stringent and dynamic financial industry regulatory requirements.
Iqbal added, “Digibanc™ - Digital Roshan Solutions is a pioneering fintech offering set to transform the way banks engage with customers in today’s digital landscape. Codebase Technologies brings in an extensive experience of operating in international markets. Our key strengths include specialized skillsets, broad accessibility, and an in-depth regulatory understanding across multiple geographies.”
Digibanc™ - Digital Roshan Solutions operates with and alongside any legacy core banking system, leveraging on an Open Architecture and modern API-driven based solution, allowing banks for increased flexibility and unparalleled scalability.
Key Features of Digibanc™ - Digital Roshan Solutions
1. Digital Customer Onboarding: Digital NRP customer onboarding. Set-up an account from anywhere, anytime.
2. State Bank Reporting: Automatic, Hassle-free, readily available, and configured regulatory state bank reports with robust regulatory compliance ensured.
3. Digital KYC Operations: Update, manage, and curate your customer KYC with seamless integration to NADRA and meet SBP requirements.
4. Payments & Transfers: Perform local and international transfers, with the ease of recurring and instant transfers.
5. Robust Mobile Security: From pin and password to biometric login authentications for a safe and secure user experience.
“We truly understand the importance of electronic or digital KYC, especially in the wake of the ongoing pandemic. We are one of the few systems providers who have both, the technical know-how as well as global expertise. There is a distinct gap in the market which we are bridging with our fintech offering. Digibanc™ - Digital Roshan Solutions is the only end-to-end digital offering equipped with mobile and remote capabilities and seamless integrations. We look forward to working closely with banks in Pakistan to unleash the complete potential of the solution and help them enhance their operations,” Iqbal concluded.