JS Bank Limited & BlueEast Pvt Ltd have signed a Memorandum of Understanding for pioneering Pakistan’s first ever Internet of Things (IoT) banking alliance.
Under this agreement, both parties will collaborate to promote a “Digital Pakistan”. The agreement aims to provide IOT integration with smart payment gateways to deliver customer centric banking & ecommerce solutions.
BlueEast and JS Bank intend to bring innovation to Pakistani consumers. Users will be able to enjoy the perks of IoT and banking at the leisure of their homes and both partners aim to enable smart purchases and automated homes.
Additionally, BlueEast will facilitate JS Bank in terms of its professional expertise along with granting access to its exclusive IOT solutions.
Furthermore, JS Bank was also shown BlueEast’s labs and technical workspace. The MoU assures greater collaboration between the two parties and upholds proposed initiatives to strengthen the link between the banking industry and the IoT/ E-commerce sector.
Commenting on the occasion, Chief Digital Officer JS Bank, Mr. Khurram Sheikh said,
“IoT has the potential to impact everything from new product opportunities, to smart homes, cities and governments optimization. We believe this partnership will pave the way for bringing smart home solutions for mutual consumers of BlueEast and JS Bank into reality.”
Commenting on the alliance, CEO BlueEast, Mr. Mian Abdul Rehman Talat said,
“This MoU will see both BlueEast and JS Bank pool resources to address digital technology shifts and accelerate IoT adoption at a national level across the industry”.
JS Bank is considered amongst the fastest growing banks within Pakistan’s banking landscape with 307 branches in 152 cities and one international branch. JS Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.