Leaders from Fintech Industry of Pakistan Wednesday called on Chairman National Database Registration Authority (NADRA) Lt Gen Muhammad Munir Afsar and informed him about the current landscape, status and challenges faced by the industry. The meeting focused on the progress made by Fintechs, the potential they offer for growth and innovation and the challenges faced by the industry, particularly in the areas of identity verification, digital onboarding, and secure transactions. Industry leaders expressed their interest in working in close coordination with NADRA to spur growth and innovation within the industry. Speaking on the occasion, Chairman Pakistan Fintech Network (PFN) Syed Nadeem Hussain said, “The fintech industry is dedicated to developing a robust and secure digital financial ecosystem in Pakistan. By integrating with NADRA’s biometric verification technology and collaborating closely with regulators, we aim to enhance financial inclusion, ensure security, build trust, and foster a safer digital financial environment for all users.”

Chairman NADRA Lt Gen Muhammad Munir Afsar acknowledged the pivotal role of fintechs in driving financial inclusion and digital transformation in Pakistan and expressed his strong commitment to supporting the industry. He also emphasized the need for a collaborative approach to overcome the challenges discussed. The Chairman assured the industry leaders that NADRA is fully aligned with the vision of a financially inclusive Pakistan and is keen to work closely with fintechs to develop solutions that will streamline processes and enhance the overall digital experience for consumers. The PFN is the national association for the country’s fintech industry. With a vision for a fully digitized financial ecosystem in Pakistan, PFN promotes an enabling environment for Pakistan’s fintechs, provides a platform for networking and collaboration between stakeholders, tracks industry progress, convenes industry events and catalyses innovation.

Credit: Independent News Pakistan