Financial inclusion demands digital shift

Pakistan's banking landscape is undergoing a seismic transition as the country's traditionally branch-centric system struggles to cope with a massive influx of new customers entering the formal financial network. With tens of millions of unbanked Pakistanis now seeking digital access to payments, remittances, and savings, industry experts say that the existing brick-and-mortar model is no longer equipped to handle the scale or speed of demand. As financial inclusion accelerates, banks are being pushed towards an entirely new digital-first business strategy to serve a rapidly expanding and increasingly tech-dependent population. Mashreq on Monday formally launched Mashreq NEO, Pakistan's first Islamic-first digital banking platform, positioning the UAE-based bank at the centre of a fast-evolving financial ecosystem defined by soaring digital payments, rising remittance needs, and a growing base of underserved customers across rural and low-income segments.