The principle purpose of this Cyberletter is to inform its readers of the latest developments in the financial industry of Pakistan, particularly in the realms of Financial Inclusion and Digital Financial Services (DFS), where efforts are being undertaken by both private and government sectors.
The second issue of FinDev explores the growing phenomenon of Digitization of financial services in Pakistan. According to a Gallup International study, nearly 6 in 10 banking customers (56%) prefer more of a digital than a personal relationship with their bank. Previously ATMs were providing users the digital experience by catering to the banking needing of walking customers . However, the financial sector has realized the increasingly critical role of mobile devices in daily life. It is now fully embracing the digital evolution and taking advantage of this resource by introducing feature such as the mobile wallet.