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Monday, April 15, 2024

Whatsapp Chat Banking: Pakistan Banking’s Digital Evolution

JS Bank Limited has launched Pakistan’s first-ever self-service banking channel on WhatsApp, in collaboration with Infobip, a global industry leader in omnichannel engagement and WhatsApp Business Solutions.

JS Bank Limited, on Tuesday, announced the launch of the first of its kind, self-service banking channel on WhatsApp across Pakistan.

A press release announced the launch of the self-service banking channel stated that JS Bank Limited collaborated with Infobip, a world-renowned industry leader in omnichannel engagement, and WhatsApp Business Solutions.

The statement read, “JS Bank, one of Pakistan’s fastest-growing banks and a trendsetter in digital innovation has partnered with Infobip, a global leader in omnichannel engagement and WhatsApp Business solution provider to introduce the first-ever self-service banking channel on WhatsApp in Pakistan.”

First Self-Service Banking Channel

JS Bank Limited’s new “self-service” banking channel will provide a first of its kind service to customers across Pakistan.

They can use this channel to explore the different products and services provided by JS Bank Limited, alongside locating its various branches, JCash agents, ATMs and even to lodge their complaints. The press release stated that the service is “completely free to use with no registration process.”

Read more: JS Bank Digital Banking Bags ‘Best Digital Innovation Award’

The process of using the banking channel is very simple. To start a conversation, users will send a message on +923487003000. WhatsApp messages are encrypted and the green badge next to the JS Bank name in the chat window will ensure customers are engaging with a business’ verified account, this will ensure that customers information is safe.

This self-service banking channel is accessible to users anywhere around the world, which will be a bonus as many Pakistani banking Apps do not work when you go abroad and require roaming telephone features.

Underscoring the purpose behind the launch of this innovative platform, Basir Shamsie, JS Bank CEO and President said, “As a customer-focused bank, it’s our duty to ensure that our customers are provided with the means to carry out banking services through any channel they desire.”

The JS Bank Limited President said that the bank is actively exploring new avenues of allowing its customers the convenience and luxury of active engagement. Shamsie said, “We are constantly seeking new ways and opportunities to meet customers at their preferred touchpoints and will ensure our customers are actively engaged on WhatsApp”.

Chat Banking on WhatsApp

Khurram Shaikh, the Chief Digital Officer of JS Bank, observed that the Digital Division of the Bank seeks to combat social and economic challenges through advanced technological solutions. Shaikh said, “JS Bank Digital Division is committed to providing solutions to social and economic problems, through FinTech innovation. The goal is to provide consumers with an unparalleled digital experience & providing consumers with financial solutions & services in line with their needs.”

The Chief Digital Officer of JS Bank added, “Innovation like Chat Banking on WhatsApp paves the way forward for consumers to gain confidence and trust in digital transactions.”

Read more: In a faltering economy, JS Bank forges ahead to become the 13th largest bank in the country

Shaikh further observed that JS Bank will continue to innovate the industry with technology-driven solutions. He said, “We will continue to develop innovative and technology-driven solutions that will enable the migration of our customers from branches to digital channels and through the launch of industry-first initiatives, JS Bank is cementing its position as an industry innovator and digital frontrunner.”

JS Bank’s collaborative partner in the launch, Infobip, allows banks to obtain direct access to the chat app, “making end-user interactions convenient.” This venture has proven to be a significant feat in improving customer experiences within the banking sector, and enhancing ease of accessibility, given that WhatsApp is one of the most preferred and popular messaging app across the country.

Guray Ozturk, the Company Secretary of Infobip Pakistan said on the occasion, “It is a great honor for us to collaborate with such a prominent bank. We truly believe that, by offering WhatsApp as a communication channel, JS Bank is strengthening its customer relationships while demonstrating their position as a pioneer in digital innovation.”

Ozturk added, “Upgrading customer experience is a vital goal for all corporate entities, and we are thrilled that JS Bank is one of the first banks in Pakistan that recognized this shift to customer-centricity by elevating their communications experience with WhatsApp Business Solutions.”

Read more: JS Global sweeps CFA’s Equity Brokerage Awards

Whatsapp Chat Banking

Whatsapp chat banking is already available in several countries worldwide, in India several banks including Kotak Mahindra Bank, Saraswat Bank, HDFC Bank, AU Small Finance Bank, etc, offer the facility. The process for chat banking is almost the same as the user in India gives a miss call to the number provided by the bank on its website to initiate the process instead of text like in Pakistan. It provides consumers with an ease of use in India and hopes are high for a similar success in Pakistan through the JS Bank facility.