TouchPoint has announced that its digital deposit platform, CADEPO, has facilitated more than PKR 5 billion in retail deposits for Faysal Bank Limited (FBL), marking a significant milestone in Pakistan’s digital banking journey. The achievement highlights how technology-driven solutions are reshaping customer banking experiences by making deposits faster, safer, and more convenient.
The rise of digital deposit platforms in Pakistan
Digital financial services in Pakistan have grown rapidly in recent years, driven by changing customer behaviors, increased smartphone penetration, and a growing need for secure banking solutions. CADEPO, developed by TouchPoint, has been at the forefront of this shift by enabling retail customers of Faysal Bank to make deposits through a seamless and user-friendly platform.
According to the company, the PKR 5 billion milestone reflects both the trust of customers and the efficiency of digital channels in simplifying traditional banking processes. With more people moving away from cash-based transactions, tools like CADEPO are helping banks adapt to a more technology-oriented environment.
How CADEPO is changing customer banking experiences
CADEPO stands out as a specialized cash deposit system that integrates advanced technology to support real-time transactions. Unlike traditional deposit processes, which often require visiting a bank branch, customers can use CADEPO-enabled touchpoints for secure deposits without the usual waiting times.
Faysal Bank, one of Pakistan’s leading Islamic banks, has been leveraging CADEPO to provide enhanced services to its retail customers. The collaboration reflects the bank’s strategy to strengthen its digital offerings and reduce dependency on conventional over-the-counter transactions. This also aligns with the broader push by the State Bank of Pakistan (SBP) to accelerate digital transformation in the financial sector.
Industry impact and future potential
The milestone of PKR 5 billion in deposits is not just a success for Faysal Bank and TouchPoint but also an indicator of how digital solutions are reshaping the banking industry in Pakistan. Financial experts note that as customers grow more comfortable with digital banking, platforms like CADEPO could play a pivotal role in expanding financial inclusion, reducing operational costs for banks, and ensuring greater transparency in financial transactions.
The achievement also highlights growing competition in the fintech and banking technology space, where banks are increasingly partnering with technology providers to deliver faster and more secure services. As more banks adopt similar innovations, the industry is expected to see rapid growth in digital deposits and mobile-based financial services.
Looking ahead
The success of CADEPO in enabling over PKR 5 billion in deposits is likely to encourage further innovation in Pakistan’s financial technology landscape. For Faysal Bank, it demonstrates the value of strategic partnerships in enhancing customer trust and convenience. For TouchPoint, it underscores the potential of its solutions in shaping the future of banking not only in Pakistan but also across other emerging markets where digital banking is on the rise.
As customer expectations continue to evolve, the role of fintech solutions like CADEPO will become increasingly vital in creating a modern, inclusive, and efficient banking system.
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