Nano Loans

Ready Cash by Bank Alfalah is the first of its kind interoperable Digital Nano Lending model between a commercial bank and a fintech, where Bank Alfalah is extending small ticket sized loans to Jazz Cash wallet account holders.

• BAFL is the first in the industry to launch a digital embedded financing solution, by embedding Nano loans on the Jazz Cash app.
• Seamless customer journey through which customers can get a loan up to PKR 30,000 within minutes.
• Repayment is completely digital, customers can repay at any time through the Jazz Cash App, during the 8-week long loan cycle. Automatic deduction of funds from the customer’s wallet account takes place if they fail to repay in time.

Timely repayments are encouraged through an upward graduation in loan limit and a decrease in processing fee.

Alfa Term Deposit (Islamic)

With the shifting of customers’ preference towards Islamic Banking, Bank Alfalah has introduced an end-to-end digital Term Deposit to cater Islamic Banking customers’ needs of securing their savings in Shari’ah compliant manner and earn Riba-Free profit. For the first time, customers having conventional banking account can also book Islamic Term Deposit with the launch of this product. Additionally, it is pertinent to mention that since the launch of Alfa Term Deposit – Islamic

Digital Mutual Funds in Alfa – Sarmayakari Accounts

Keeping digitization of financial services as a strategic pillar for progression, Alfa is the first mobile banking app in Pakistan that allows customers to invest in Mutual Funds from their Account in just a few taps, without the hassle of any branch visit or tedious paperwork.
The entire process is easy to manage as the customer can invest, redeem, reinvest and switch between 12+ mutual funds through an end-to-end digital process without compromising personal financial information; with the initial investment as low as Rs. 500 and can be supplemented with higher amounts, as and when the customer wishes. The funds offered cover both conventional and Islamic variants and can be invested via both Sahulat and Sahulat Sarmayakaari Accounts.
The investment feature allows customers to view their investment details, view present value of their investment, full-fledged customer account opening option with online risk profiling. Thus, Digital Investments on Alfa offer bank’s customers a convenient and safe investment option.

Orbits Screen Revamp

The orbit feature has been revamped in order to provide a better user experience where customers can effortlessly manage statements, transfer orbit, track their orbit tier, and explore upgrade options for enhanced benefits. The orbits are earned by spending on credit/debit card, deposits, digital banking, investment products, loans and bancassurance.

Biometric Verification from Alfa App

Customer can conveniently perform the biometric verification via Alfa app without the hassle of visiting the branch. This feature was introduced to make the account opening process easier for the customers who cannot visit the branch for any reason. Finger prints’ picture is scanned, and the system integration with NADRA and qualified vendor confirms if the prints match with the national database.

Debit/Credit card Management (Updated)

Customers can easily manage their debit and credit cards from their Alfa app. This feature was introduced for the convenience of the customers since they no longer have to contact on the helpline, saving their time and efforts. The customer can easily block/change PIN and enable/disable e-commerce, POS, ATM, International transactions.