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Open Banking Knowledge Workshop at ABL

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After being adopted by around 100 countries around the world, Open Banking is set to enter the Pakistani market. Our team recently conducted the first-of-its-kind knowledge workshop on Open Banking in Pakistan at Allied Bank Limited (ABL) – the fifth largest bank in Pakistan. This session marked the commencement of our Open Banking awareness drive in the MENAP region.

The session was attended by esteemed executives from ABL from various business functions including Digital Banking, Information Technology, Compliance, and Risk Management.

Steered by Nabeel Qadeer - Deputy Group CEO of BenchMatrix, and Isfandyar Khan - Senior Manager Growth and Innovation at BenchMatrix, the session highlighted the role of Open Banking in creating opportunities for financial institutions operating in Pakistan.

The session revolved around the global emergence of Banking 4.0 and its implications on the future of banking. The transformative impact on traditional banking and the plethora of opportunities arising from Open Banking were also explored.

Receiving significant acclaim from senior leadership at ABL, the key highlights of the workshop included:

  • The impact of AI and Open Banking on traditional banking practices.
  • Benefits of Open Banking, including enhanced customer experience, financial inclusion, and fostering innovation.
  • Potential risks, such as data privacy and regulatory compliance.
  • Anticipated regulatory framework accompanying this paradigm shift.

 We are excited to cultivate an Open Banking ecosystem in Pakistan and look forward to conducting a series of knowledge workshops across the MENAP region.