KARACHI, PAKISTAN: Dubai Islamic Bank Pakistan Limited (DIBPL), World’s First Islamic Bank, announced the launch of its Roshan Digital Account platform, built-in collaboration with leading Global Open API Banking Solution provider Codebase Technologies, to drive frictionless digital onboarding and seamless overseas banking and investing for non-resident Pakistanis.
In view of the difficulties faced by Non- Resident Pakistanis, Roshan Digital Accounts (RDA) was introduced to assist millions of overseas Pakistanis in undertaking fund transfers, bill payments, and investment opportunities in Pakistan. As an emerging market for Fintechs, customers in Pakistan are increasingly receptive to digital and innovative technologies for seamless banking processes.
DIB Roshan Digital Account is built using Codebase Technologies’ award-winning Digbanc™ suite and sets the benchmark for RDA offerings as the only mobile app proposition that enables customers to rapidly create an account and begin banking and investing in minutes. The platform can be accessed anywhere, at any time, and simplifies the onboarding process using a customer-centric user interface, intelligent customer workflows, and cutting-edge eKYC components.
Codebase Technologies and Dubai Islamic Bank Pakistan synergies were a driving force throughout the project, enabling market-differentiating workflows which were precisely tailored to ensure all possible scenarios were accounted for.
The platform will make it simpler, faster, and more enjoyable for overseas Pakistanis to open accounts and start investing in the country.
Junaid Ahmed, Chief Executive Officer at Dubai Islamic Bank Pakistan said “Technologies that customers use on daily basis continue to improve over the years, so do their expectations for banking and financial services. This achievement will meet the rising demand for engaging user experiences and a streamlined experience, transforming how non-resident Pakistanis can invest and bank from overseas, and elevating customer expectations in the banking and financial services industry. We are thrilled to offer our customers the enhanced banking and financial services through our partnership with Codebase Technologies.”
Commenting on the new offering, Raheel Iqbal, Managing Partner & Global Product Head at Codebase Technologies, said, “We are very excited to partner with Dubai Islamic Bank Pakistan for this groundbreaking implementation. Our platform is a pioneering fintech offering set to transform the way banks engage with customers in today’s digital landscape. Codebase Technologies brings in extensive experience of operating in international markets. Our key strengths include unparalleled expertise, broad accessibility, and an in-depth regulatory understanding across multiple geographies.”
About Dubai Islamic Bank Pakistan
Dubai Islamic Bank has a unique distinction of being the world first Islamic bank, a pioneering institution that has combined the best of traditional Islamic values with the technology and innovation that characterize the best of modern banking.
Dubai Islamic Bank Pakistan Limited (DIBPL), commenced operations in 2006. Since then, DIBPL has undertaken major initiatives to expand its branch network across the country.
The Bank is offering state-of-the-art Shari’a compliant products that effectively compete with those being offered in the market by conventional banks. DIBPL is a wholly owned subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank. The Bank is one of the fastest growing Islamic Banks in Pakistan continues to reaffirm its long-term commitment by aggressively expanding its footprint nationwide in its endeavor of providing the better way to bank.
About Codebase Technologies
Codebase Technologies is a leading Global Open API Banking solution provider, at the forefront of enabling banks and financial institutions (both Conventional and Islamic), as well as the emerging Fintech ecosystem to Demystify Digital Financial Services. We help organizations create and deliver Innovative and Intuitive experiences across customer lifecycle.
With presence and customers across 4 continents, Codebase Technologies with its award-winning suite of products, including the innovative Digibanc™, a comprehensive one-stop ‘Bank in box’, helps its customers unlock the true potential of the next generation of the digital financial eco-system.
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