The Alabama International Trade Center (AITC), an SBA Resource Partner based at the University of Alabama was instrumental in joining two Birmingham Metro area small businesses- Diamond Fortress Technologies (DFT) and PAKUSA.com (PAKUSA)- to introduce an innovative biometric solution to the Pakistani banking community.
A recent national law in Pakistan requires commercial financial institutions to verify the parties associated with all financial transactions with a biometric feature. The law was implemented to reduce money laundering and other illegal financial activities and particularly those in support of subversive organizations.
PAKUSA is a partner in marketing DFT security and authorization software technology with banks, government, law enforcement and military in Pakistan. PAKUSA facilitated the initial demonstration to JS Bank of DFT’s breakthrough solution called ONYX™, a patented technology which converts standard smartphone cameras into high quality fingerprint sensors without any additional hardware.
JS Bank is considered amongst the fastest growing banks within Pakistan’s banking landscape with 307 branches in 152 cities and one international branch. JS Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups (http://www.jsbl.com).
Speaking on the occasion, PAKUSA’s CEO, Irfan Yousuf, stated “the business opportunity among DFT and PAKUSA is significant in helping fulfill a critical market opportunity and security need in Pakistan by assisting in the compliance with the new national security and authorization requirements”. As well, he credited the AITC, “if not for AITC’s guidance and invaluable resources that were offered by Carolyn Turner (Senior International Trade Specialist of the AITC) this opportunity would not be successful”.