SBP governor felicitates Bank Alfalah for redefining banking with inauguration of Pakistan's first digital lifestyle branch.

KARACHI -- Governor State Bank of Pakistan Jameel Ahmad has said that Pakistan's banking industry was investing in technological upgrades to facilitate its customers and improving their overall banking experience. He was optimistic that exciting projects like Bank Alfalah's First Digital Lifestyle Branch will unlock new opportunities, making banking easier to access and leading a more financially inclusive and digitally empowered nation.

He was addressing at the launch ceremony of Bank Alfalah's First Digital Lifestyle Branch, a unique, one: of: a: kind digital experience hub designed to fulfil customers financial and lifestyle needs. The innovative branch is a transformative fusion of banking's integration with the way of life. Ahmad observed that digitalization has entailed a reduction in the brick: and: mortar footprint of the banking industry globally and Pakistan is no exception. He felicitated Bank Alfalah for launching First Digital Lifestyle Branch. The governor was confident that the successful implementation of this model will show the way forward to the new entrants of the banking industry in Pakistan. In his concluding remarks, Governor SBP stressed for the need of proactive approach by the banking industry in tailoring customers' products and services based on their specific preferences and changing behavior. Further, he emphasized that customers' fair treatment and protection must remain a top priority of banks.

It is worth mentioning that in 2022, Bank Alfalah saw an exponential growth of over 95% indigital banking transactions with an annualised volume of over PKR 3.5 trillion. Bank's data further shows that 77pc of New: to: Bank (NTB) account...