KARACHI: The Bank of Punjab will be integrating a local FinTech Hysab Kytab’s solution for Personal Finance Management (PFM) into its Digital Banking services. This collaboration will be enabled through NdcTech, an award-winning regional partner of Temenos. The Temenos leading Digital Banking platform has been acquired by The Bank of Punjab for all its channels across Pakistan.
As part of this collaboration, Hysab Kytab will license their Personal Financial Management (PFM) solution while NdcTech will integrate the solution to provide a next-generation user experience, for mobile & internet users. Once integrated, this App will enable the users to have a 360-degree view of their financial activities, track and record their spending, create budget plans, track saving goals, receive personalized insights, and much more. By using PFM, the users shall be able to make informed financial decisions based on additional analytics available to them. Hysab Kytab’s consumer app has users in over 160+ countries clocking above 12 Million transactions and counting.
Commenting on partnership Mr. Yasir Ilyas – Head of Hysab Kytab said that ‘’Hysab Kytab’s Personal Financial Management (PFM) tool will allow BOP’s customers to view their financial information on one big picture. Customers may create budgets and track their expenses, achieve their dreams by creating saving goals, know their net worth and have access to visualization of their category-wise spending, track subscriptions, view trends, have access to their spending and cash flow insights, and much more.’’
Mr. Navaid Kareem, Director Sales and SEVP at NdcTech said that “NdcTech focuses on building Banks of future, enabling them to become digital first. Through Hysab Kytab’s PFM & NdcTech’s extensive expertise in Banking Implementations, The Bank of Punjab will be able to provide its digital users with a holistic view of their finances, empowering them to make sound financial decisions. We look forward to creating an amazing digital user experience.”
Mr. Zahid Mustafa, Group Chief Consumer and Digital Banking, at The Bank of Punjab quoted that, “Digital financial services are rapidly becoming a customer lifestyle, our customers expect personalized banking services available to them at their fingertips, round the clock, anywhere and everywhere. At The Bank of Punjab Our Customer is at the heart of everything we do, all our digital initiatives are built around achieving contextualized and excellent customer experience, Personal Finance Management is one of the key digital capabilities we are set to build for our customers. We are excited to partner with NdcTech and Hysab Kytab to implement their market leading PFM solution embedded in our Mobile app and internet banking solution. Though PFM adoption is generally low in the country, we shall strive to design it in a user-friendly manner in order to enhance adoption.”