BankIslami unveils country’s first instant cheque encashment service

KARACHI: BankIslami has introduced Pakistan’s first-ever instant cheque encashment service, leveraging TouchPoint’s QMatch technology to enable real-time transactions via Cash & Cheque Deposit Machines (CCDMs), said a statement on Friday.

The move is part of the bank’s broader digital transformation strategy aimed at enhancing customer convenience and operational efficiency, the statement further read.The service allows customers to encash cheques instantly without visiting a branch, streamlining transactions and reducing wait times. By integrating QMatch’s advanced transaction processing capabilities, the initiative ensures secure and seamless cheque encashment in real time.

“With this launch, we are redefining banking accessibility in Pakistan,” said Chief Officer at aik Ashfaque Ahmed. “This is more than just a technological advancement -- it is a commitment to faster, more secure transactions that align with our vision of becoming a fully digital bank.”