Bank Alfalah Partners with Swift for Secure Cross-border Payments

Bank Alfalah Limited has recently entered a strategic partnership with Swift to introduce Payment Pre-validation in Pakistan, aiming to make cross-border transactions faster, more accurate, and more secure. This collaboration made possible through the national payment switch 1 LINK, allows any Swift-connected institution globally to verify beneficiary details in real time for over 200 million bank accounts in Pakistan.

This initiative reflects Bank Alfalah’s ongoing commitment to digital innovation and enhancing the country’s financial infrastructure. Swift’s Payment Pre-validation service helps check key payment details before initiating a transaction. As a result, errors are reduced, fraud risks are minimized, and processing times improve significantly.

Farooq A. Khan from Bank Alfalah emphasized that this move will improve the overall customer experience by making cross-border payments more efficient and secure. Swift’s Onur Ozan also noted the potential of this solution to support financial institutions and their customers, especially in key corridors such as the Middle East, Europe, the UK, and the USA.

With cross-border payments growing steadily, this step strengthens Pakistan’s position in the global financial ecosystem and marks another milestone in Bank Alfalah’s leadership in digital banking.