World’s First Islamic Bank Selects IRIS Payment Platform for Digital Transformation

To keep up with the transforming banking industry and meet growing expectations, Dubai Islamic Bank Pakistan has opted for IRIS Omni Channel Payment Platform and Prepaid Cards Management Solution by TPS.

As digital banking adoption increases by leaps and bounds and Omni-channels take hold in financial services, Dubai Islamic Bank Pakistan is putting their customers first and investing in top-of-the-line payment technologies.

TPS’ Enterprise Payment Solution and Prepaid Cards Management Solution are both crucial elements of the DIB’s strategy for digitization of retail banking. The IRIS middleware will provide a fundamentally flexible payment platform which can be easily integrated with innovative alternate delivery channels.

Prepaid Cards will give the bank an opportunity to extend financial services to the unbanked population. This is a solution that will help bridge the gap between formal financial services sector and the millions of under-served and unbanked citizens of Pakistan, especially when combined with services such as Business to Person (B2P) and Government to Person (G2P) payments. Prepaid cards will allow consumers in Pakistan to conduct transactions over ATMs’, POS Machines & E-commerce websites across the world.

As part of the agreement, TPS will also enable Dubai Islamic Bank Pakistan to issue EMV Debit Cards. The roll out of EMV cards will enable the bank to be on par with the global Payment Card Industry standards and meet changing regulatory requirements.

“Dubai Islamic Bank Pakistan has a structured approach towards digital technology with a clear focus on customer experience as well as on the role that has to be played together by branches and digital banking channels.” said Junaid Ahmed, CEO, Dubai Islamic Bank Pakistan

We are happy to have TPS as our long-standing technology partner who have been supporting us in our digital journey and helping us keep pace with the fast changing technology.

“We are delighted to provide Dubai Islamic Bank Pakistan the technological agility that is required to capture the full potential of new payment technologies.” said Shahzad Shahid, CEO, TPS,

Being an agile company, we are proud that our cutting edge payment solutions will become the main differentiator for the bank when it comes to improving customer experience.