In a bid to streamline its complaint resolution process and enhance the security of its digital portals, the State Bank of Pakistan (SBP) has launched a new “Service Desk System,” an end-to-end complaint management portal. This system is designed to address complaints from Regulated Entities (REs) related to SBP-hosted portals, including the Regulatory Approval System (RAS).
The Service Desk System will serve as a central platform for financial institutions to submit complaints or issues they encounter while using the SBP’s digital services. By consolidating all complaints through this portal, the SBP aims to provide a more efficient and transparent way of handling concerns, ensuring that issues are resolved quickly and effectively.
Along with the introduction of the Service Desk System, the SBP has also announced a significant upgrade to the security of its portals. Starting on May 30, 2025, access to the SBP-hosted portals, including the Regulatory Approval System (RAS) and the new Service Desk, will transition from traditional web-based access to Virtual Private Network (VPN)-based access. This move is part of SBP’s broader initiative to enhance the security of its digital infrastructure and protect sensitive financial information.
To facilitate this change, financial institutions (REs) will be required to obtain Multifactor Authentication (MFA) licenses to access these portals securely via VPN. MFA will provide an additional layer of protection by requiring users to authenticate their identity through multiple verification methods before accessing the portals. The SBP has urged all regulated entities to acquire the necessary MFA accounts ahead of the deadline to ensure a smooth and uninterrupted transition to the new system.
The shift to VPN-based access is in line with global best practices for secure online transactions and will help safeguard the integrity of the regulatory process, which involves sensitive financial data. By requiring MFA for access to these critical systems, the SBP aims to mitigate the risks of unauthorized access and ensure that only authorized personnel can engage with the Regulatory Approval System and Service Desk.
In addition to these security upgrades, the SBP has further digitized the entire process of receiving requests and proposals from Regulated Entities. Through the Regulatory Approval System (RAS), the SBP can now digitally receive, review, and disseminate regulatory decisions, replacing traditional paper-based processes. This digital transformation is designed to reduce paperwork, speed up decision-making, and improve the overall efficiency of regulatory interactions.
With the launch of the Service Desk System and the upcoming transition to VPN-based access, the SBP is positioning itself as a forward-thinking institution that values both customer satisfaction and cybersecurity. The Service Desk System will provide financial institutions with a more effective way to manage complaints, while the enhanced security measures will protect the integrity of SBP-hosted platforms, ensuring that all transactions and interactions remain secure and compliant with industry standards.
The SBP’s ongoing efforts to digitize and secure its services demonstrate its commitment to fostering a more efficient, secure, and transparent regulatory environment for Pakistan’s financial sector. These changes are expected to streamline interactions between the SBP and regulated entities, ultimately contributing to a more robust financial ecosystem in Pakistan.
Regulated entities are encouraged to prepare for the upcoming changes and ensure they are in compliance with the SBP’s new guidelines to maintain seamless access to essential regulatory platforms.