Dubai Islamic Bank Pakistan Limited (DIBPL) announced the launch of its Roshan Digital Account platform, built in collaboration with global open API banking solution provider Codebase Technologies, to facilitate frictionless digital onboarding and seamless overseas banking and investing for non-resident Pakistanis.
As an emerging market for FinTechs, customers in Pakistan are increasingly receptive to digital technologies for better banking processes. Roshan Digital Accounts was introduced with the aim to assist millions of overseas Pakistanis in undertaking fund transfers, bill payments, and investment opportunities in Pakistan.
DIB Roshan Digital Account is built using Codebase Technologies’ Digibanc™ suite and is among the only mobile app proposition that enables customers to rapidly create an account and begin banking and investing in minutes. The platform can be accessed anywhere, at any time, and simplifies the onboarding process using a customer-centric user interface, intelligent customer workflows, and quick eKYC components.
Codebase Technologies and Dubai Islamic Bank Pakistan worked closely together throughout the project, enabling market-differentiating workflows which were precisely tailored to ensure all possible scenarios were accounted for. The platform will make it simpler and faster for overseas Pakistanis to open accounts and start investing in the country.
Junaid Ahmed, Chief Executive Officer at Dubai Islamic Bank Pakistan said “Technologies that customers use on daily basis continue to improve over the years, so do their expectations for banking and financial services. This achievement will meet the rising demand for engaging user experiences and a streamlined experience, transforming how non-resident Pakistanis can invest and bank from overseas, and elevating customer expectations in the banking and financial services industry. We are thrilled to offer our customers the enhanced banking and financial services through our partnership with Codebase Technologies.”
Commenting on the new offering, Raheel Iqbal, Managing Partner & Global Product Head at Codebase Technologies said, “We are very excited to partner with Dubai Islamic Bank Pakistan for this groundbreaking implementation. Our platform is a pioneering fintech offering set to transform the way banks engage with customers in today’s digital landscape. Codebase Technologies brings in extensive experience of operating in international markets. Our key strengths include unparalleled expertise, broad accessibility and an in-depth regulatory understanding across multiple geographies.”