Faysal Bank Teams Up for the Development of a Modern Consumer-Credit Decision Engine

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Tagline: Faysal Bank pioneers digital lending evolution with DataCheck and Qarar, shaping an innovative ‘Automated Credit Decisioning’ era for instant approvals and superior customer experiences in Pakistan’s financial landscape.

Description: Faysal Bank (FBL), a leading Islamic bank in Pakistan, has entered into a groundbreaking partnership with DataCheck to establish the industry’s inaugural collaboration on the “Hosted Decision Engine,” licensed by Qarar. This innovative venture aims to boost operational efficiency in the consumer digital lending sector by incorporating advanced credit-scoring techniques, facilitating instant decision-making processes.

The signing ceremony occurred at Faysal Bank’s Head Office, with the presence of key figures such as Mr. Yousaf Hussain, President and CEO of Faysal Bank, Mr. Raheel Ijaz, Chief Operating Officer of Faysal Bank, Mr. Tariq Jan, CEO of DataCheck, Mr. Zaid Kamhawi, CEO of Qarar, and other senior management representatives from Faysal Bank, DataCheck, and Qarar.

Mr. Yousaf Hussain, President & CEO of FBL, expressed his privilege in collaborating with DataCheck and Qarar for this pioneering initiative. He highlighted the aim to provide superior customer experiences by leveraging the latest advancements in ‘Automated Credit Decisioning’ technology, contributing to Faysal Bank’s commitment to offering an inclusive and dynamic banking experience. He expressed optimism that this collaboration would significantly contribute to expanding the digital lending ecosystem in Pakistan.

Tariq Jan, CEO of DataCheck, emphasized the significance of data-driven decision-making and the value this credit decisioning solution brings to the industry. He praised the end-to-end solution managed by DataCheck and Qarar’s teams, enabling automated decisions for Faysal Bank’s customers.

Zaid Kamhawi, CEO of Qarar, commended Faysal Bank for being the first hosted-decisioning customer in Pakistan. He expressed excitement about Qarar’s proven expertise and the robust platform created by the deployment of DecisionSmart in other markets. The hosted solutions are anticipated to streamline the credit lifecycle, and the collaboration with Faysal Bank is poised to be a success story.

Faysal Bank is committed to fostering a digitally empowered and accessible financial environment. ‘Automated Credit Decisioning,’ driven by sophisticated algorithms and data analysis, is expected to revolutionize the speed and accuracy of the traditional lending model. This, in turn, will expedite the approval process for customers while adhering to stringent risk management protocols.

 

 

Conclusion: Faysal Bank’s groundbreaking collaboration with DataCheck and Qarar marks a significant milestone in Pakistan’s financial landscape. The introduction of the ‘Hosted Decision Engine’ and cutting-edge ‘Automated Credit Decisioning’ technology not only enhances operational efficiency in consumer digital lending but also underscores Faysal Bank’s commitment to providing inclusive, dynamic, and superior banking experiences. With optimism for the expansion of the digital lending ecosystem, this partnership sets the stage for a successful transformation, streamlining the credit lifecycle and ensuring prompt approvals while maintaining rigorous risk management standards. Faysal Bank remains steadfast in its dedication to fostering a digitally empowered and accessible financial environment, redefining traditional lending models for a more efficient and customer-centric future.

 

 

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