Improvement in existing customer on boarding process and launch of mobile application for instant biometric verification - Press Release issued by National Clearing Company of Pakistan Limited.

Karachi -- March 13, 2023 (PPI-OT)

Following is the text of press release issued by National Clearing Company of Pakistan Limited (NCCPL)

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The National Clearing Company of Pakistan (NCCPL) is pleased to announce yet another initiative in its commitment towards simplifying and enhancing the online account opening process for investors in the capital market. To achieve this objective, NCCPL has further streamlined the customer on boarding process.

The improvements within the existing customer on boarding process involves seamless API connectivity with the National Database and Registration Authority (NADRA) for CNIC verification and with RAAST for IBAN verification. As a result of this implementation, the generation of One-Time Passwords (OTPs) will now take few minutes as against previous time span of 2-3 hours.

NCCPL has also introduced a new mobile application, "NCC Bio Verify," to facilitate instant biometric verification. With this application, investors can perform biometric verification using their smartphones from any location...

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