Allied Bank, one of Pakistan’s leading commercial institutions, has partnered with Paysys Labs, a pioneer in next-generation payment technologies, to pilot the Interledger Protocol (ILP) for cross-border transactions.
As part of this strategic collaboration, Paysys Labs recently secured the prestigious Digital Financial Services Grant from the Interledger Foundation (ILF). Embracing ILF’s vision to “send a payment as easily as an email,” Paysys Labs — in partnership with Allied Bank — will develop a Proof of Concept (PoC) for implementing a node on the ILP Test Network.
This initiative will enable Allied Bank’s customer accounts to function as wallets on the global ILP network, facilitating seamless, secure cross-border payments from other registered, regulated financial institutions.
The pilot highlights both organizations’ commitments to embracing emerging technologies in a secure, compliant, and innovation-driven environment, paving the way for the future of digital financial services in Pakistan.
About Allied Bank
Allied Bank is Pakistan’s leading commercial bank, offering a comprehensive suite of financial products and services for individuals and businesses. With a strong focus on digital innovation and customer satisfaction, Allied Bank continues to lead the banking sector through AI-powered, future-ready solutions.
About Paysys Labs
Founded in 2016, Paysys Labs is a Pakistan-based fintech company specializing in scalable digital payment solutions for financial institutions. The company offers consulting, implementation support, and strategic solutions in payment systems and digital transformation.