Key Takeaways
- BankIslami has introduced TezRaftar, an AI-driven platform for consumer finance.
- The system aims to digitize credit underwriting and reduce manual review time.
- This launch is part of BankIslami’s digital transformation initiatives.
BankIslami, a leading Islamic bank in Pakistan, has launched TezRaftar, an in-house AI-powered Consumer Finance Origination System. This platform is designed to digitize the bank’s credit underwriting process, significantly reducing manual review and wait times.
According to Imran H Shaikh, Deputy CEO of BankIslami, the system is intended to provide customers with a simple, fast, and transparent journey. Shaikh stated, 'Our mission has always been to make Shariah-Compliant banking accessible to every customer, and this system takes that mission further by giving customers a journey that is simple, fast and completely transparent.'
The launch ceremony was held at the bank’s headquarters in Karachi and was attended by several senior members of the management team, including Rizwan Ata, President & CEO; Sohail Sikandar, Chief Operations Officer; Sajjad Qureshi, Chief Risk Officer; and Zulfiqar Lehri, Group Head Consumer & Channel Sales.
TezRaftar brings BankIslami’s complete consumer portfolio, including Auto, Home, Personal Financing, and Government Schemes, onto a single digital workflow. The platform applies a standardised underwriting framework consistently across every branch, ensuring uniformity in service delivery.
The launch of TezRaftar is part of BankIslami’s ongoing digital and operational transformation initiatives. The bank continues to expand its network and deepen its service offerings, remaining committed to its mission of Saving Humanity from Riba.
By leveraging AI, the bank aims to enhance customer experience and operational efficiency. The new system is expected to streamline the application process, making it faster and more transparent for customers.
BankIslami’s commitment to digital innovation is evident in its continued efforts to modernize its services. The launch of TezRaftar is a significant step towards achieving this goal, aligning with the bank’s vision of providing Shariah-Compliant banking solutions to a wider audience.
The platform’s ability to standardize the underwriting process across all branches ensures consistency and reliability in service delivery, further enhancing the customer experience.
Our mission has always been to make Shariah-Compliant banking accessible to every customer, and this system takes that mission further by giving customers a journey that is simple, fast and completely transparent.
Imran H Shaikh, Deputy CEO of BankIslami
