INTRODUCTION
NIFT - National Institutional Facilitation Technologies (Pvt.).
Ltd. was incorporated in September 1995 as joint venture between
a consortium of six banks and entrepreneurs from the private
sector. All commercial banks and all of their branches in major
cities avail NIFT’s services. As of June 2007, 40 commercial
banks and their 4500 branches in 100 major cities utilize NIFT’s
services.
NIFT has setup elaborate data centers geared to provide automated
services for document processing particularly in the payment
arena. Modern image based facilities have been established
at Karachi, Lahore, Islamabad, Peshawar, Rawalpindi,
Hyderabad, Multan, Faisalabad, Quetta, D.I.Khan, Sialkot,
Gujranwala, Sukkur, Bahawalpur and Muzaffarabad.
The services include cheques clearing, reconciliation, ‘return’
(unpaid) cheques processing, same day clearing (express –
2 hrs. clearing service), intercity clearing and inter branch
& inter bank settlement. Services are provided at individual
branch level to over 4500 branches in 100 major cities and
smaller cities.
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NIFT has set up a grid of automated clearing which provides
efficient and cost effective intercity clearing involving
15 major and over 85 satellite cities in Pakistan. NIFT has
facilitated setting up of citizen data base by National Database
and Registration Authority (NADRA) by image archiving of 64
million census forms. NIFT has progressed the ACH facilities
to electronic clearing. The clearing results are now accessible
by banks and branches through the NIFT's web portal.
In addition to providing services to the financial industry,
NIFT is a trusted service provider to major utility companies
for utility payment services. Both gas distribution companies
of Pakistan (SSGC and SNGPL), Telecommunication company (PTCL),
Cellular companies (Mobilink and Telenor) exploit NIFT's Services).
NIFT also provides exclusive item processing services to large
corporations which includes oil refinery, insurance companies
and other businesses.
 ISM
- NIFT has incorporated an wholly owned subsidiary
‘Image Systems Marketing (Pvt.) Ltd.’, to offer
Enterprise Content Management Services. ECMS comprises of
image archiving/retrieval and document management services,
bulk printing of variable and fixed data (in colour and black),
insertion services and web publishing of enterpirse data.
It has been a unique experience to brings six large banks
and private sector on one platform to help modernize payment
systems in Pakistan.
 NIFTeTRUST
a division of NIFT is a Certification Authority of
Pakistan. This division has establishes facilities to provide
PKI (public key infrastructure) based security solutions for
e-business, e-commerce, e-banking and e-government as an affiliate
of VERISIGN Inc USA. NIFTeTRUST also provides other Information
Security related services to large coroprations and banks.
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