Pakistan’s UBL Fund Managers taps Codebase for digital onboarding solution
One of Pakistan’s largest mutual fund operators, UBL Fund Managers, has partnered with Codebase to develop and launch a digital onboarding service for its business.
UBL Funds taps Codebase for digital onboarding solution
The omnichannel mobile and web application integrates with UBL Fund’s existing infrastructure, allowing customers to open mutual fund accounts “quickly and securely”.
The onboarding solution, which is one of only a few that complies with Security and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan’s (SBP) requirements, has been built using Codebase’s Digibanc platform.
The fintech platform comprises a number of features including external and internal API integration, full API integration with UBL Funds’ existing app, video call scheduling and back-office management workflows.
Billed as the first-of-its-kind in Pakistan, the portal offers access to investments for more than 220 million Pakistani nationals both within and outside the country.
UBL Fund Managers CEO Yaser Qadri says fintech solutions are “outpacing” traditional finance and in order to maintain market leadership, “financial institutions must harness technology to provide customers with seamless onboarding and ease of use”.
The partnership reflects Pakistan’s shift towards digitalisation within investments and mutuals funds.
Until recently, those looking to invest in mutual funds had to meet a company representative or visit an office or branch before filling out forms. The solution developed by Codebase and UBL means customers can complete the process remotely.
Customers can digitally onboard for UBL Funds’ JhatPat E-Account, including both the Sahulat Account (basic, with transaction limits) and the Sarmayakari Account (unlimited, subject to KYC).
