Bank Alfalah wins awards

KARACHI: Bank Alfalah has been honoured by Pakistan Banking Awards (PBA) with two prestigious accolades: the ‘Best Bank for Digital Excellence’ award for the third consecutive year and ‘Best Bank for Customer Engagement’ award for the sixth year, a statement said on Monday.

The bank recently relaunched the New Alfa application, purposely curated to promote financial inclusion by departing from a mere transactional banking app and moving to a digital financial lifestyle app. People can now experience Alfa’s advanced new features of savings, investment, and borrowings across a wide range of choices, alongside its new user interface design, which integrates banking into people’s lifestyles. The bank also launched Pakistan’s first digital, instant-processing cheque deposit kiosk (CDK), enabling 24/7 real-time cheque clearing. Using technologies like OCR, biometrics, and machine learning, the CDK automates cheque processing, reducing manual transactions. Small businesses accustomed to using the bank’s cash deposit machines are expected to transition to the CDK, which handles over Rs500 billion in annual transactions.

Bank Alfalah has also been awarded the ‘Best Bank for Customer Engagement’ for the sixth time since 2016. This recognition highlights the bank’s role in being the most efficient in engaging with customers with wide-ranging solutions, providing easy accessibility, providing the most efficient service delivery, and solving problems. Leveraging customer insights and innovative channels like WhatsApp Banking, Bank Alfalah ensures convenience, personalised experiences, and long-term satisfaction for its valued customers.On the achievement, Atif Bajwa, president and CEO of Bank Alfalah, said, “We are honoured to receive these two distinguished awards at the Pakistan Banking Awards 2024.