Islamabad: Karandaaz Pakistan and National Bank of Pakistan (NBP) have partnered to launch a nationwide initiative for the promotion of digital financial inclusion by implementing a robust Application Programming Interface (API) on Apigee.
Apigee is a leading API platform owned by Google. The implementation of Apigee is provided by Abacus Consulting that is the sole provider of Apigee services in Pakistan.
This development will help the largest government owned bank to digitize its transactions end to end primarily Government to Person (G2P) and Person to Government (P2G) transactions.
The platform will also enable NBP to collaborate with its various existing and potential partners such as government entities, micro-financial services (MFS) players, telecom companies, financial networks, and FinTechs.
Saeed Ahmad, CEO and President, National Bank of Pakistan said, “NBP as a national institution believes that its primary responsibility is not only to derive the market towards the financial eco-system but also act as a catalyst in enabling other players to embrace the digital age.
Launch of Open API Platform by NBP is a strategic milestone in this direction and sharing its digital assets with strategic partners & fintechs, NBP will accelerate the pace of digitizing the economy and transfer the benefits of the same to the masses.”
CEO Karandaaz, Ali Sarfraz, while discussing the development said, “This partnership between Karandaaz and NBP will play a profound role in catalyzing the process of financial inclusion in Pakistan by bringing technology to the table. We are confident that with this technology, NBP will be a front-runner in this drive to change the way the banks interact with their clientele in the country. Karandaaz is excited to be part of this initiative that will affect the lives of over 200 million Pakistanis.”***
