The narrative of Pakistan’s financial evolution took center stage at the Money20/20 Asia summit in Bangkok, where Farhan Hassan, Chief Digital Officer of easypaisa digital bank, shared profound insights into the nation’s rapid technological migration. Participating in a high-level panel titled How Digital Banks Can Thrive in the New Era, Hassan emphasized that Pakistan’s journey toward a digital-first economy is the result of a coordinated effort involving regulatory reforms, technological breakthroughs, and market-driven innovations. He revealed that the national financial inclusion rate has seen a staggering increase, jumping from 47 percent in 2018 to 67 percent in 2025, a testament to the effectiveness of recent policy shifts and digital adoption.
A significant highlight of the discussion was the sheer scale of digital transaction volume now occurring within the country. Hassan noted that in the second quarter of the 2025–26 fiscal year, an overwhelming 92 percent of retail payments were conducted via digital channels. This accounted for approximately 3.1 billion transactions across mobile apps, internet banking, and e-commerce gateways. As Pakistan’s first digital retail bank to commence commercial operations earlier this year, easypaisa has been at the forefront of this movement. While the global pandemic served as an initial catalyst, Hassan credited the recent strategic initiatives by the Prime Minister and the State Bank of Pakistan for providing the necessary policy framework to accelerate the shift toward a truly cashless society.
The conversation also delved into the critical element of customer trust in a bank without physical branches. Hassan argued that for digital banks, reliability is the modern equivalent of a brick-and-mortar presence. To build sustainable trust, institutions must balance seamless user experiences with robust, invisible security layers. He cautioned that while excessive friction in the user journey can alienate customers, any compromise in security is fatal to a digital bank’s reputation. Furthermore, he observed that digital banks are no longer just competing with traditional lenders but are now in a broader race against global Big Tech and embedded finance players. This has prompted easypaisa to move away from a closed model toward an open platform approach, fostering partnerships across the e-commerce and telecom sectors.
Artificial intelligence emerged as a pivotal theme regarding the future of credit and risk management. Hassan explained that AI-driven credit scoring is already enabling digital banks to scale their lending operations responsibly by enhancing fraud detection and monitoring risk in real-time. While he acknowledged that fully autonomous AI financial advisory is still evolving, he maintained that human oversight remains essential to ensure accuracy and contextual relevance. He specifically noted that while challenges like digital literacy gaps and language fragmentation currently act as hurdles to AI adoption in Pakistan, ongoing investments in digital infrastructure and localized innovation are expected to dissolve these barriers rapidly.
With over 59 million registered users, easypaisa digital bank continues to leverage its backing from the Telenor Group and Ant Group to redefine the financial experience for millions. The bank’s participation in global forums like Money20/20 Asia underscores its commitment to aligning with the State Bank of Pakistan’s vision for inclusive economic growth. By focusing on the unbanked and underbanked segments of the population, the institution is not just providing a service but is actively reshaping the socioeconomic fabric of the country. As the landscape continues to evolve at a breakneck pace, the transition from conventional banking to a sophisticated, AI-enhanced digital ecosystem remains the primary goal for Pakistan’s financial leaders.
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