BankIslami Pakistan Limited has launched TezRaftar, an in-house AI-powered Consumer Finance Origination System designed to make the financing process faster, more digital and more streamlined.
The new platform digitises key stages of credit underwriting, reducing manual reviews and processing time involved in consumer financing applications.
By bringing multiple financing products into one digital workflow, TezRaftar aims to create a more consistent process for customers and BankIslami branches.
Key Takeaways
- Bank: BankIslami Pakistan Limited
- Platform: TezRaftar
- Technology: Artificial Intelligence and automation
- Purpose: Consumer Finance Origination
- Key function: Digitised credit underwriting
- Financing products: Auto, Home and Personal Financing
- Other financing: Government Schemes
- Main benefit: Faster and more streamlined processing
- Coverage: BankIslami’s consumer financing portfolio
- Focus: Digital transformation and customer experience
What Is TezRaftar?
TezRaftar is BankIslami’s in-house Consumer Finance Origination System, built to digitise important parts of the financing process.
Traditionally, consumer financing can involve multiple manual reviews and processing stages. TezRaftar brings these activities into a digital workflow and uses AI-powered capabilities to support credit underwriting.
The objective is to reduce unnecessary manual intervention and allow financing applications to move through the process more efficiently.
AI Brings Credit Underwriting Into a Digital Workflow
One of the key features of TezRaftar is its focus on credit underwriting.
By digitising underwriting processes, the system can help standardise how financing applications are reviewed across BankIslami’s branches.
This can reduce differences caused by manual processing and create a more consistent workflow for consumer finance applications.
The use of AI and automation also allows the bank to reduce processing-related delays while maintaining a structured approach to financing assessment.
Auto, Home and Personal Financing Under One System
TezRaftar brings BankIslami’s broader consumer financing portfolio onto a single digital workflow.
The system covers:
- Auto Financing
- Home Financing
- Personal Financing
- Government Schemes
Bringing these products together allows the bank to manage different consumer financing categories through a common digital framework.
For customers, this can help create a more streamlined journey from application through the financing process.
Standardised Financing Across Branches
Another important aspect of TezRaftar is the introduction of a standardised underwriting framework across BankIslami branches.
When financing applications are processed through a common digital framework, branches can follow the same underlying workflow and underwriting structure.
This can help improve consistency in processing and reduce reliance on different manual procedures at individual locations.
For a bank with a broad branch network, standardisation can be particularly important when scaling digital consumer finance services.
BankIslami Accelerates Digital Transformation
The launch of TezRaftar is another step in BankIslami’s wider digital transformation strategy.
Rather than simply moving paper-based processes online, the platform combines digital workflows with AI and automation to change how consumer financing applications are processed.
The development reflects the growing use of technology within Pakistan’s banking sector, where financial institutions are increasingly adopting automation and artificial intelligence to improve operational efficiency.
Why This Matters
TezRaftar could have implications for both BankIslami and its customers.
For customers, digitised financing processes can reduce the time and manual steps involved in applications.
For branches, a standardised workflow can make consumer finance processing more structured and consistent.
For BankIslami, automation can reduce manual processing requirements and improve operational efficiency.
For Pakistan’s banking sector, the platform represents another example of how AI is being integrated into financial services beyond traditional chatbots and customer support.
What TezRaftar Could Mean for Customers
The biggest potential change for customers is a more streamlined financing journey.
Instead of financing applications moving through multiple manual stages, TezRaftar brings key parts of the process into a single digital workflow.
The system is designed to make processing faster while providing a standardised approach to credit underwriting.
However, faster processing does not necessarily mean automatic approval. Financing decisions remain subject to the bank’s applicable credit assessment, eligibility criteria and policies.
Outlook
BankIslami’s launch of TezRaftar highlights the increasing role of AI, automation and digital workflows in Pakistan’s banking industry.
By bringing Auto, Home, Personal Financing and Government Schemes into one consumer finance origination system, the bank is creating a common digital framework for its financing portfolio.
As financial institutions continue investing in AI-driven processes, developments such as TezRaftar could contribute to faster processing, greater standardisation and more digitally connected customer experiences.
FAQs
What is TezRaftar?
TezRaftar is BankIslami’s in-house AI-powered Consumer Finance Origination System designed to digitise key stages of the consumer financing process.
What does TezRaftar do?
The platform digitises important parts of credit underwriting, helping reduce manual reviews and processing time.
Which financing products are covered by TezRaftar?
The system covers BankIslami’s Auto, Home and Personal Financing, along with applicable Government Schemes.
Does TezRaftar use artificial intelligence?
Yes. TezRaftar uses AI and automation as part of its digital consumer finance workflow.
Will TezRaftar automatically approve financing applications?
No. The platform is designed to streamline and digitise the financing process. Financing remains subject to the bank’s applicable eligibility, credit assessment and approval requirements.
Why is standardised underwriting important?
A standardised underwriting framework can help branches follow a more consistent process when assessing consumer financing applications.
Is TezRaftar an external fintech platform?
No. BankIslami has developed TezRaftar as an in-house Consumer Finance Origination System.
How does TezRaftar support BankIslami’s digital transformation?
It combines AI, automation and digital workflows to reduce manual processing and streamline the bank’s consumer financing operations.
