MIRZA ARHAM

FINTECH
AND
BANKING
BS68-8354
WHAT IS
FINTECH
Fintech short for financial technology is the
solution to digitize financial services. It serves a
number of business segments such as money
transfers, investment management, personal
finance, and banking. Using Fintech, you can
send and receive money via mobiles.

Simply put, it removes the cash-based payment

system by changing our relationship with
money. You don’t need to take assistance from
a person when you can manage all the
transactions from mobile. It uses technology
like big data and analytics to learn customer
preferences and design products accordingly.
TOP LEADING
FINTECH BANKS
IN PAKISTAN
HBL
PAKISTAN
HBL is one of the first companies to adopt the
digital medium in Pakistan. With HBL mobile
you can send and receive instant money, pay
bills, apply for loans, and get access to a
number of financial services.

Konnect by HBL is also a step ahead in

providing a mobile banking experience. It also
allows you to open your digital bank account
without you visiting the bank. Other than that,
the app also makes the financial operations
cashless and paperless.
MEEZAN
BANK
Meezan is the top-rated, most popular bank in
Pakistan because of its ease of operations. With
the Meezan bank app on your phone, you can
do unlimited transactions, send and receive
money, activate/deactivate your debit card, and
much more. It makes banking quick,
convenient, paperless with its intuitive features
and tools.
UBL DIGITAL
BANK
UBL Digital is another good example of fintech
companies in Pakistan. The app is one of the
best-rated apps on the Play Store because of
its wide range of operations with a click.
Whether it’s about funds transfer, paying bills,
doing online shopping, mobile top-ups, cheque
or card management, the app always helps on a
click.
TELENOR
MICROFINANCE
BANK
Telenor Microfinance Bank Limited is the first
scheduled microfinance bank in Pakistan that
provides a range of innovative payments and
lending solutions.

It operates as a fintech by bringing cutting-edge

technology solutions to transform Pakistan into
a cashless, financially inclusive society.
Easypaisa is also a product of Telenor Bank that
has created history with the idea of a
branchless banking platform.
STANDARD
CHARTERED
BANK Standard Chartered app is a friendly and
convenient application to manage your
finances anytime and anywhere. It’s designed
to keep your banking needs in mind. Users can
control their finances with its intuitive interface
and powerful features.
BANK
ALFALAH
Similar to HBL Mobile, the Alfa app by Bank
Alfalah also offers seamless banking from
anywhere and anytime. With more than 730
branches and an international presence in UAE,
Bangladesh, Bahrain, and Afghanistan, the bank
is known for providing a multitude of financial
operations through technology. It’s also a
recommended bank for online banking in 2021
and onwards.
CONCLUSION
These are some of the prominent fintech
companies of Pakistan including startups and
banks. Some might still be missing while some
might be in the pre-launch phase. The point is
Pakistan is getting better in the Fintech industry
with time. However, there are some scope and
challenges for Fintech in Pakistan such as lack
of internet facilities in underdeveloped areas,
lack of awareness, and accessibility to a wide
number of people.

In the future, if we meet the fintech challenges

successfully, we won’t only grow our economy
but will also open a range of opportunities for
our people.