Instant Loan Qorus Banking Innovation Awards 2023

Bank Alfalah always strive to make a difference in our customer's lives by enhancing their confidence with innovations and technological solutions which directly enable them to enjoy banking services with comfort and ease. In time when the society is getting paperless Bank Alfalah is leading in financial sector by offering Instant Loan Product which is the loan solicitation through Digital Channels. The need behind this innovative product is to facilitate bank's existing customer's to avoid long queues and hassle of document requirements while applying for personal loan. Bank Alfalah planned to upscale and redefine the way transactions are done and how customers plan to spend in day-to-day life that is why making it easier for them this product was launched which curtail the time of getting loan approval and disbursed in customer account into just 2-3 minutes. This hot selling product is one of its kind in current financial market, making it a market leader and trend setter. Instant Loan has been conceptualized and designed by consumer finance group and was developed by digital banking group with the efforts of IT teams of both the groups. Since its launch, Bank Alfalah has managed to approve and disburse 9400+ loans and PKR 4.9 Billion approx disbursed into the customers accounts. The results are a clear reflection of Instant Loan success which portray the image that how best the product has been for the right people at the right time.