At the Money20/20 Asia panel discussion, Farhan Hassan, Chief Digital Officer at easypaisa digital bank, highlighted the multifaceted drivers of Pakistan’s digital banking transformation. Financial inclusion rates improved from 47% in 2018 to 67% in 2025, aided by innovative digital solutions and regulatory reforms.

He mentioned that 92% of retail payments in Q2 FY2025-26, totaling 3.1 billion transactions, were executed via digital channels. COVID-19 accelerated the adoption of digital financial services, further supported by initiatives from the Prime Minister and the State Bank of Pakistan.

Farhan emphasized the importance of building customer trust through seamless experiences and strong security. Digital banks now compete not only with traditional banks but also with Big Tech firms. The easypaisa digital bank has transitioned to an open platform model, fostering partnerships within the ecosystem.

He touched on AI’s role in improving credit scoring and fraud detection, noting that while AI is evolving in financial advisory, human oversight is still necessary. Despite challenges such as socioeconomic disparities and limited digital literacy in Pakistan, improvements in infrastructure and education should facilitate broader AI adoption. Overall, easypaisa remains committed to expanding financial services for unbanked and underbanked individuals, aligning with the State Bank of Pakistan’s inclusive growth vision.