Bank Alfalah, one of the largest commercial banks in the country, has been conferred with ‘Best Digital Banking’ and ‘Best Bank in Housing Finance’ awards at the Pakistan Banking Awards 2022 by the Institute of Bankers Pakistan (IBP).
Bank Alfalah was recognized for its efforts in introducing innovative and transformative offerings, and simplifying and easing customers’ banking experience through its digital services.
It was recognized for winning the trust of customers who can avail of end-to-end banking services and perform financial transactions from the comfort of their location.
Today, 72 percent of the Bank’s counter transactions come through its digital channels, and over 80 percent of bank accounts are opened digitally without paperwork.
Speaking at the occasion, Mohammad Yahya Khan, Group Head, Digital Banking at Bank Alfalah, shared, “We are honored to be the driving force of digital banking in Pakistan. As we work to accelerate financial innovation, it brings us immense joy to be the enabler of choice for our customers in the payments and digital banking space.”
“Bank Alfalah will always be one step ahead in providing our clients with a smooth digital banking experience to simplify their cash management activities through automation, speed, security, and flexibility,” he added.
In addition to winning at the digital forefront, the bank also won the ‘Best Bank in Housing Finance’ for persistently demonstrating its commitment to home and construction financing segments in line with the Government’s vision of ‘Mera Pakistan Mera Ghar’ (MPMG).
The housing finance business showed tremendous growth; PKR 17.6 billion was disbursed to finance over 2,500 households.
The State Bank of Pakistan (SBP) also recognized Bank Alfalah’s efforts to promote low-cost housing and was awarded for being the number one bank under MPMG with the highest disbursements in the industry.
In addition, Bank Alfalah overachieved SBP mandatory targets for housing and construction.
Receiving the award, Mehreen Ahmed, Group Head Retail Banking, Bank Alfalah, commented, “We are delighted to have been recognized for this prestigious award. Bank Alfalah will keep playing a leading role in supporting the housing finance eco-system by engaging all key stakeholders and Roshan Digital Account (RDA) customers for making Roshan Apna Ghar another success story.”
“We are committed to making housing finance affordable for the people, and we reiterate our resolve to carry on playing our part in building a prosperous Pakistan,” she added.
Bank Alfalah has persistently demonstrated its commitment to Pakistan’s digitization, construction, and export segments in line with the Government’s commitment to improving business environments for these sectors, respectively.
SBP launched numerous schemes to support these efforts for economic development and prosperity in collaboration with local banks and Development Finance Institutions (DFIs), out of which Bank Alfalah’s contributions have been acknowledged on multiple forums.