Askari Bank taps Hysab Kytab for personal financial management tech integration

Pakistan’s Askari Bank has partnered with fintech firm Hysab Kytab and plans to integrate the latter’s personal finance management (PFM) solution into its digital banking offering.

Hysab Kytab says supporting local fintechs is “significant”

The solution will enable Askari Bank customers to view all their accounts in one place, track their expenses, create budgets in various categories, set savings goals and glean insights through charts and graphics that track their spending.

The integration of the personal finance management solution forms part of the bank’s ongoing digitisation strategy.

Askari Bank’s chief operating officer Khurshid Zafar says the partnership with Hysab Kytab is “yet another step forward in this endeavour”.

“We are equipping our customers with a digital tool that will enable them to track their spending patterns in the most effective way possible,” Zafar adds.

Hysab Kytab head Yasir Ilyas says the bank’s decision to go with a Pakistani fintech is significant. “This is the kind of support that our local banks can offer to help Pakistan’s fintech industry to grow and provide solutions for the local requirements.”

Hysab Kytab founder Veqar-ul-Islam says the partnership between fintechs and banks is “key” to providing integrated solutions to customers, adding the collaboration “will help to boost the digital financial awareness and inclusion of banking customers”.