Tech Desk 
Oct 29, 2024
Bank Alfalah launched a new digital banking application, Alfa, to bring banking tools and services directly into the people's lives.
Alfa has now become a lifestyle app in the country's digital banking scene, over and above just an app for doing banking business.
Bank Alfalah’s new Alfa app features
These features include saving, investing, and borrowing all through a single interface.
With the following services, the users can now invest in mutual funds, Pakistan Investment Bonds, and treasury bills or set personal financial goals and automate savings.
Alfa even offers easy account opening in different currencies, allowing conversions between PKR, USD, GBP, EUR, and AED.
For borrowing, the Alfa app provides quick access to loans up to Rs750,000, with a "Buy Now, Pay Later" option for shopping through AlfaMall.
Users can get a credit card instantly and manage their finances with overdraft facilities, agricultural financing, and automobile loans.
Bank Alfalah also launched the first Instant Digital Cheque Deposit Kiosk (CDK) across Pakistan, utilising the leading technology in reading, processing, and clearing cheques 24/7.
The technology team at Bank Alfalah designed this within the house, and through OCR, biometrics, and machine learning, it assures secure and instant processing. This new kiosk should save time for businesses as well as individual users compared to the traditional teller services because transactions are carried out much faster.
This new Alfa app aims to ease the process of banking and digital transactions and give the user experience to customers spread across Pakistan by being accessible, secure, and convenient.
