Allied Bank has marked a major milestone in Pakistan’s digital financial landscape by becoming the first bank in the country to introduce RAAST-enabled Cash Deposit Machines (CDMs). This development positions the bank at the forefront of real-time interoperable payment innovation, enabling customers to deposit cash directly into any bank account across Pakistan through the national instant payment system, RAAST.
The integration of RAAST with CDMs represents a significant enhancement in convenience for millions of account holders who previously relied on traditional branch-based deposits or bank-specific machines. With this capability now live, customers can make instant deposits into accounts at any participating bank, eliminating delays and improving the overall efficiency of the payment ecosystem. This advancement also supports Pakistan’s broader vision of transitioning from a cash-reliant economy to one that prioritizes digital financial services.
According to Allied Bank, the initiative aligns with national efforts to accelerate the shift from Cash to Less-Cash and eventually to a Cashless Pakistan. By enabling secure, real-time deposits around the clock, the bank aims to enhance accessibility and ease of use for consumers and businesses alike, reducing their reliance on physical bank visits and improving the reach of digital financial channels.
The launch is the result of extensive collaboration and commitment by Allied Bank’s Digital Banking and IT teams. Their work reflects the bank’s ongoing strategy to remain at the forefront of technological adaptation, ensuring customers receive reliable and forward-thinking digital solutions. Individuals acknowledged for their roles in delivering this milestone include Mujahid Ali, Nauman Qureshi, Faisal Nadeem, Ijaz Ajmal, Tahir Khan, Aamir Mahmood, Muhammad Zaman, Muhammad Kamran Zeb, Omer P. Adil, Mohammad Yasir Mehmood, Asif Shaikh, and Umair Imran. Their combined expertise and leadership played an essential part in bringing RAAST integration to physical banking infrastructure.
Allied Bank also extended appreciation to its technology partners and machine suppliers for their cooperation and support throughout the development and deployment process. Key contributors included Muhammad Ashraf and Ahmad Karim Jindani, whose technical guidance and collaboration helped ensure that the system operates seamlessly and meets national interoperability standards.
The bank further acknowledged the role of the State Bank of Pakistan in driving the digital payments agenda. RAAST, developed under the central bank’s oversight, aims to modernize Pakistan’s financial ecosystem by enabling faster, more secure, and more affordable transactions across institutions. Allied Bank’s adoption of RAAST for CDMs demonstrates how financial institutions are translating this national infrastructure into tangible services for the public.
With this deployment, Allied Bank reinforces its position as a leader in digital transformation and financial innovation. As Pakistan’s payment ecosystem continues to evolve, the bank’s early adoption of interoperable CDM technology highlights a strong commitment to shaping the future of convenient, inclusive, and secure financial services across the country.
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for updated across Pakistan’s banking ecosystem.Allied Bank has marked a major milestone in Pakistan’s digital financial landscape by becoming the first bank in the country to introduce RAAST-enabled Cash Deposit Machines (CDMs). This development positions the bank at the forefront of real-time interoperable payment innovation, enabling customers to deposit cash directly into any bank account across Pakistan through the national instant payment system, RAAST.
The integration of RAAST with CDMs represents a significant enhancement in convenience for millions of account holders who previously relied on traditional branch-based deposits or bank-specific machines. With this capability now live, customers can make instant deposits into accounts at any participating bank, eliminating delays and improving the overall efficiency of the payment ecosystem. This advancement also supports Pakistan’s broader vision of transitioning from a cash-reliant economy to one that prioritizes digital financial services.
According to Allied Bank, the initiative aligns with national efforts to accelerate the shift from Cash to Less-Cash and eventually to a Cashless Pakistan. By enabling secure, real-time deposits around the clock, the bank aims to enhance accessibility and ease of use for consumers and businesses alike, reducing their reliance on physical bank visits and improving the reach of digital financial channels.
The launch is the result of extensive collaboration and commitment by Allied Bank’s Digital Banking and IT teams. Their work reflects the bank’s ongoing strategy to remain at the forefront of technological adaptation, ensuring customers receive reliable and forward-thinking digital solutions. Individuals acknowledged for their roles in delivering this milestone include Mujahid Ali, Nauman Qureshi, Faisal Nadeem, Ijaz Ajmal, Tahir Khan, Aamir Mahmood, Muhammad Zaman, Muhammad Kamran Zeb, Omer P. Adil, Mohammad Yasir Mehmood, Asif Shaikh, and Umair Imran. Their combined expertise and leadership played an essential part in bringing RAAST integration to physical banking infrastructure.
Allied Bank also extended appreciation to its technology partners and machine suppliers for their cooperation and support throughout the development and deployment process. Key contributors included Muhammad Ashraf and Ahmad Karim Jindani, whose technical guidance and collaboration helped ensure that the system operates seamlessly and meets national interoperability standards.
The bank further acknowledged the role of the State Bank of Pakistan in driving the digital payments agenda. RAAST, developed under the central bank’s oversight, aims to modernize Pakistan’s financial ecosystem by enabling faster, more secure, and more affordable transactions across institutions. Allied Bank’s adoption of RAAST for CDMs demonstrates how financial institutions are translating this national infrastructure into tangible services for the public.
With this deployment, Allied Bank reinforces its position as a leader in digital transformation and financial innovation. As Pakistan’s payment ecosystem continues to evolve, the bank’s early adoption of interoperable CDM technology highlights a strong commitment to shaping the future of convenient, inclusive, and secure financial services across the country.
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