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BankIslami has launched TezRaftar, an in-house AI-powered system designed to digitise consumer finance underwriting and reduce processing times.
BankIslami has launched an in-house, AI-powered Consumer Finance Origination System designed to digitise its credit underwriting process and reduce manual review and processing time for customers.
The platform, named TezRaftar, brings the bank’s consumer finance portfolio onto a single digital workflow. This includes Auto Finance, Home Finance, Personal Finance and Government Schemes.
According to BankIslami, the system applies a standardised underwriting framework across its branches, allowing consumer financing applications to move through a unified process. The digital workflow is designed to reduce manual intervention and shorten the time required to process applications.
The launch ceremony was held at BankIslami’s headquarters in Karachi and was attended by senior members of the bank’s management, including President and CEO Rizwan Ata, Deputy Chief Executive Officer Imran H Shaikh, Chief Operations Officer Sohail Sikandar, Chief Risk Officer Sajjad Qureshi and Group Head Consumer & Channel Sales Zulfiqar Lehri.
Speaking at the ceremony, Imran H Shaikh said the system was developed as part of the bank’s efforts to make Shariah-compliant banking more accessible to customers.
He said TezRaftar would provide customers with a simpler and faster financing journey while maintaining transparency throughout the application process.
The platform represents another addition to BankIslami’s digital and operational transformation initiatives. By consolidating different consumer finance products within a single workflow, the system is intended to standardise the underwriting process while supporting the bank’s customer service operations.
The use of artificial intelligence in the origination system also introduces technology into the bank’s credit assessment workflow. The platform is designed to support the processing of financing applications while reducing the amount of manual review involved in the process.
BankIslami said the launch forms part of its broader efforts to expand its digital capabilities and service offerings as it continues to grow its operations.
The bank has continued to invest in digital and operational initiatives alongside the expansion of its network and consumer finance services.
With TezRaftar, its Auto, Home, Personal Financing and Government Scheme offerings are now incorporated into a single digital workflow, with the same underwriting framework applied across branches.
The system is expected to support a more streamlined application process for customers while giving the bank a centralised framework for managing its consumer finance portfolio.
