Karan­daaz or­ga­nizes Dig­i­tal Credit Work­shop

The Pak Banker - - COMPANIES/BOSS - Staff Reporter

Karan­daaz Pak­istanin con­junc­tion with the Con­sul­ta­tive Group to As­sist the Poor (CGAP), a mem­ber of the World Bank group, held a one­day work­shop ti­tled Dig­i­tal An­a­lyt­ics and Credit: Re­sources to Plan a De­ploy­ment at the Mar­riott Ho­tel in Karachi. Fa­cil­i­tated by Ja­mal Ra­hal, an in­ter­na­tion­ally renowned ex­pert in dig­i­tal fi­nance an­a­lyt­ics and credit scor­ing, and Gre­gory Chen, Se­nior Fi­nan­cial Sec­tor Spe­cial­ist, CGAP, the aim of the day-long work­shop was to pro­vide par­tic­i­pants with a de­tailed in­tro­duc­tion to dig­i­tal credit essentials, op­por­tu­ni­ties and re­quire­ments.

The work­shop was at­tended by a num­ber of key in­dus­try play­ers from the dig­i­tal fi­nan­cial ser­vices sec­tor, in­clud­ing tele­com com­pa­nies, banks, mi­cro­fi­nance banks and Fin­Techs. Mod­er­ated dis­cus­sions through­out the day en­abled par­tic­i­pants to de­velop a deep un­der­stand­ing of the de­sign and de­liv­ery of dig­i­tal credit ser­vices, and learn about use­ful tools that aid the de­vel­op­ment of dig­i­tal credit prod­ucts.

The work­shop also in­cluded a ses­sion shed­ding light on a range of dig­i­tal credit de­ploy­ments around the world. Key com­po­nents of the work­shop in­cluded credit scor­ing, IT in­fra­struc­ture re­quire­ments, fi­nan­cial pro­jec­tions and part­ner­ship mod­els. Par­tic­i­pants were also led through the steps in de­sign­ing a dig­i­tal credit pi­lot. In her open­ing re­marks, Joanna Reid, Head of Of­fice, Depart­ment for In­ter­na­tional De­vel­op­ment (DFID) Pak­istan stated, "Dig­i­tal credit is a highly spe­cial­ized sub­ject and it is a mo­ment of pride to see Karan­daaz team work­ing at the fore­front of dig­i­tal fi­nan­cial in­no­va­tion in Pak­istan.

We at DFID see fi­nan­cial in­clu­sion as a cor­ner­stone for de­vel­op­ment - not just for gen­er­at­ing growth, but for cre­at­ing bet­ter lives for the poor­est and marginal­ized in so­ci­ety - open­ing the door for cash trans­fers, sav­ings and in­sur­ance and thus funds to spend on education, health, and a bet­ter liv­ing en­vi­ron­ment." In his key­note ad­dress, Dr. Ishrat Hus­sain, Chair­man of the Board of Di­rec­tors at Karan­daaz Pak­istan, said "Pak­istan needs in­no­va­tion in dig­i­tal fi­nan­cial space to fur­ther the goal of 50% fi­nan­cial in­clu­sion by 2020 as set by State Bank of Pak­istan.

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