The world is seeing rapid digitization across all sectors, be it consumer products, e-commerce, or the financial sector.
Pakistan’s digital landscape has seen a similar growth in the past decade. With a population of over 220 million, Pakistan according to stats, has over 170 million mobile connections and over 60 million internet users. This adaptation of digitalization can also be observed in the financial sector of Pakistan.
According to a report published by the Data portal in January 2021, over 70 million people have made digitally enabled payment transactions from 2020 till 2021 which is a growth of almost 27% since last year.
The growth can also be seen in the usage of mobile communication applications like WhatsApp. WhatsApp has remained the most used and downloaded application in Pakistan for the last few years.
Realizing the convenience and high usage of the application, NBP Funds have recently pioneered in launching the first-ever transaction through WhatsApp in their official WhatsApp Self Service Portal.
Approved by SECP and being the first of its kind service in Pakistan, it guides on how to make digital investments and allows the user to redeem their money instantly and securely through WhatsApp with a few simple steps.
The users are no longer required to go through time-consuming manual forms or have to remember credentials. They can tend to their small urgent matters such as cash needs or balance checks by simply starting a chat with NBP Funds’ official WhatsApp number: 021 111 111 632
NBP Funds WhatsApp Self Service: A Closer Look
The WhatsApp self-service was launched earlier this year to facilitate investors in quickly and securely accessing information regarding their funds.
Alongside transactions, here is a full list of services available through the WhatsApp self-service portal:
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Performing Transactions
Any investor can either invest (invest in funds) or redeem (cash out their investments) using WhatsApp.
Withdrawing Money into Bank Account
An investor can make redemptions by following these steps and safely withdrawing funds into their registered bank account:
NBP Funds Official WhatsApp Self-service guides an investor to make investments and start their wealth-building journey. This is possible either through Bank Transfer or through Bill Generation.
Investing through Bank Transfer generates a unique IBAN which can then be used through any mobile banking application to make a transfer of any amount.
Whereas, the Bill Generation method requires that the user first specify how much they intend to invest and then get an investment voucher number. They can then use any banking application to pay against the investment-generated voucher.
WhatsApp Self Service: Paperless and Hassle-free
WhatsApp Self Service is designed to provide easy and secure access to investment facilities. One major benefit of using WhatsApp Self Service is that the user does not need to remember their credentials.
Whenever the user needs to access basic information regarding their investments or take out cash for urgent needs, they can simply open their WhatsApp and in a few simple taps get the job done in a paperless, hassle-free way.
NBP Funds: Journey So Far
NBP Fund Management Limited (NBP Funds) is one of the leading Asset Management Companies (AMC) of Pakistan, managing over 18,100 Crores of the investors, as of 31st Dec 2021, in various investment solutions.
The main sponsors of the company are the National Bank of Pakistan (NBP) and the Baltoro Growth Fund.
The company has been awarded the highest achievable investment management rating of AM1 (Very High Quality,) by PACRA.
This rating is based on the company’s professional management team, the sound quality of systems and processes, sponsors’ strength, and the performance of funds under management.
NBP Funds plays an important role in promoting investment opportunities in Pakistan by utilizing its financial engineering expertise. The company provides a comprehensive range of investment products and services tailored to meet its investors’ individual requirements.
In 2020, NBP Funds became the first AMC to launch its own debit card and keeping up the streak, has now become the first company to launch Transactions through WhatsApp self-service.