Faysal Bank Limited has signed an agreement to facilitate
foreign trade in an automated environment, according to a statement issued
Thursday.
In line with the bank’s core value of innovation through
process automation, Faysal Bank Limited has entered into an agreement with AKS
IQ for the development and implementation of a state-of-the-art trade solution.
The innovative solution will help Faysal Bank Limited to execute
import and export transactions in a highly automated environment and provide
flexibility to perform checks on price verifications, vessel tracking, dual use
of goods etc. through pre-defined checks, validations, workflows, and reference
data sources.
The investment in automation systems and processes will lead
to significant improvement in overall service standards and improved customer
experience while optimizing and helping bring risk levels significantly down.
The bank would be able to effectively manage the existing
Risk portfolio, mitigate operation risk issues, compliance issues and also
facilitate improve decision-making across key departments through more robust
data-driven valuations.
Speaking at the signing ceremony, Syed Muhammad Fraz Zaidi
(Head of Operations) said: “For Faysal Bank, technology as an enabler is a key
focus area. We have invested significantly in this area and are now starting to
reap the benefits. As we automate and digitize our products and services
delivery mechanisms, we will be able to serve our customers even better and
improve on efficiencies.”
Faysal Bank Limited carries the highest local Sharia rating
of SCFR1 by the International Islamic Rating Agency (IIRA) and provides the
best and widest range of Shariah-compliant banking products and services to
meet their customer’s Halal banking needs with convenience. With an expanding
network of almost 700 Islamic branches, Faysal Bank Limited has a footprint in
253 cities/towns across Pakistan.
https://pkrevenue.com/faysal-bank-signs-agreement-to-facilitate-foreign-trade/