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CASE STUDY
Building Digital Onboarding for ABL Funds
Customer onboarding is the first and most critical step in building a lasting customer relationship. In banking, however, this process has been associated with abandonment as high as 70% because of the identity, regulatory, and compliance processes involved. ABL Funds saw an opportunity to simplify the journey for customers and partnered with Codebase Technologies to build a fully digital onboarding experience powered by Digibanc.
Project Overview
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Pakistan’s digital landscape is expanding quickly. Mobile connectivity in Pakistan has expanded from 43M users to 117M between 2020 and 2026, and mobile connectivity from 164.9M to 194M within the same period. However, customer onboarding remains a major friction point, with abandonment rates reaching 70% in some markets. Much of this stems from the processes involved, and from the fact that most financial institutions still rely on branch-based onboarding.
ABL Funds, one of Pakistan’s leading Asset Management Companies holding the highest Asset Manager Rating of AM1, decided to set the pace by offering a fully digital onboarding experience for their customers across their range of investment solutions, mutual funds, and advisory services. To turn this into reality, they partnered with Codebase Technologies to leverage Digibanc and bring the experience to market quickly.
Digibanc provided the infrastructure for ABL Funds’ digital onboarding journey, bringing together the capabilities required to support remote customer onboarding while addressing identity verification, regulatory, compliance, and security requirements. Its configurable capabilities enabled Codebase Technologies to tailor the onboarding experience to ABL Funds’ requirements and support a seamless investment management journey from registration through account opening.
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Client's Mission & Expectations
ABL Funds wanted to make investment management more convenient and accessible by enabling customers to begin their investment journey remotely, regardless of their location. They wanted to extend digital access to both resident and non-resident Pakistanis, including middle-class and low-income segments that have traditionally been locked out of investment opportunities. In addition, ABL wanted to deliver this experience across all channels, including mobile, web, and tablet, giving customers greater flexibility in how they engage with its investment solutions.
“Our goal with the investment management customer onboarding solution was crystal clear. We wanted to empower our customers with seamless access to investment opportunities, regardless of their location. We sought a partner whose commitment to innovation matched our own. Fortunately, we had the opportunity to work with Codebase Technologies, leveraging their fintech and digital banking platform, Digibanc.”
Naveed Nasim,
CEO, ABL Funds
How Codebase Technologies and Digibanc Made It Possible
Codebase Technologies worked closely with ABL Funds to translate the vision and objectives into a full digital onboarding experience. This started with strategy workshops, customer journey mapping, and UI/UX planning and refinement to ensure the teams aligned the experience with ABL Funds’ business, operational, regulatory, and brand requirements from the outset.
“The successful collaboration between ABL Funds and Codebase in bringing cutting-edge digital onboarding services to Pakistan has been truly fruitful. This project signifies a transformative leap towards a more accessible and efficient financial landscape, empowering individuals across the nation to embark on their investment journeys with ABL Funds, seamlessly.”
Zufa Kanwal,
Head of Marketing,
ABL Funds
What Digibanc Delivered for ABL Funds
Digibanc provided the technology foundation for the onboarding solution. With its modular, composable architecture, the platform allowed Codebase Technologies to configure and assemble the required capabilities without building from scratch, which accelerated time to market. Its API-first design enabled integration with ABL Funds’ existing systems and third-party services, including identity verification and eKYC providers. This gave ABL Funds a secure, scalable foundation for continuous innovation beyond launch.
Digital Customer Onboarding
A fully remote, self-service onboarding journey enables prospective investors to register, complete verification, and open accounts without visiting a branch. Customized flows support resident and non-resident Pakistanis, extending digital investment access across geographies and customer segments.
Identity Verification and eKYC
ID card scanning and electronic Know Your Customer (eKYC) protocols verify customer identities in real time. Video call verification adds an extra layer of authentication, while smart risk profiling evaluates each applicant’s risk appetite and investment suitability before account opening.
Regulatory Compliance
The solution complies fully with Securities and Exchange Commission of Pakistan (SECP) regulations, covering securities, corporate governance, and investor protection. It also adheres to Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) requirements for international financial transparency and reporting.
CNIC-Based Ownership Verification
A smart security feature performs real-time legitimate ownership checks of the customer’s mobile number against their CNIC. This strengthens identity assurance and reduces fraud risk while keeping the onboarding experience efficient and seamless for genuine applicants.
Omnichannel Accessibility
Customers can initiate and complete onboarding across mobile, web, and tablet devices. This omnichannel customer journey ensures the investment experience is accessible at any time, through whichever digital channel the customer prefers, without constraints or loss of continuity.
Smart Risk Profiling
The platform evaluates each customer’s risk appetite and investment willingness during onboarding. This supports suitable fund recommendations and helps ABL Funds meet regulatory suitability requirements while delivering a personalized, guided investment journey from the first interaction.
“The solution we have implemented embodies excellence in the core dimensions that define a groundbreaking digital onboarding solution. From the omnichannel customer journeys and intuitive smart flows to integration into our existing app, remote accessibility, and end-to-end security and compliance, our customer onboarding journey is poised for a new growth trajectory. Throughout the process, the Codebase Technologies team demonstrated nothing short of excellence.”
Syed Khalid Hussain
Country Head – Business Development, ABL Funds
Outcomes
The collaboration between ABL Funds and Codebase Technologies has ushered in a new era of wealth management in Pakistan. The fully digital onboarding journey has created strong impact for both the institution and its customers. The results speak to what’s possible when the right technology meets a clear vision.
Impact for ABL Funds
ABL Funds can now acquire investors at scale without the overhead of branch-based processes. The digital model lowers cost per acquisition and accelerates account opening. With a scalable, compliant foundation in place, the company is positioned to launch new investment products faster and compete more effectively in Pakistan’s evolving wealth management market.
Impact for Customers
Investors can now start their investment journey entirely from their phones, tablets, or computers. Middle and low-income earners gain access to mutual funds they were previously not conveniently available. The experience is guided, secure, and compliant, making investing feel approachable for first-time investors and convenient for existing ones.
Frequently Asked Questions
What is ABL Funds' digital onboarding solution?
It is a fully digital, remote onboarding platform built on Codebase Technologies’ Digibanc platform. It allows prospective customers to open mutual fund accounts and begin investing without visiting a physical branch.
What platform powers ABL Funds' onboarding solution?
The solution is built on Digibanc, Codebase Technologies’ modular, API-driven digital banking platform. It provides ready-made components for identity verification, eKYC, compliance, and omnichannel accessibility.
How does the solution verify customer identity?
It integrates ID card scanning, eKYC protocols, video verification, and smart risk profiling. It also performs real-time mobile number ownership checks against the provided CNIC for added security.
Is the solution compliant with Pakistani regulations?
Yes. The solution is fully compliant with SECP regulations covering securities, corporate governance, investor protection, and market oversight. It also adheres to FATCA and CRS international standards.
Who can use ABL Funds' digital onboarding solution?
The solution supports both resident and non-resident Pakistanis. Customized onboarding flows were developed for each segment, allowing customers to open accounts from anywhere in the world.
What devices does the solution support?
The solution is accessible across mobile, web, and tablet devices, giving customers the flexibility to choose the most convenient channel for their needs.
What is the “Smart Flows” feature?
Smart Flows adapts the onboarding process to each customer based on their risk profiling responses, suggesting relevant investment funds while still letting customers access the full range of funds if they choose.
How long does onboarding take?
The onboarding process is designed to be seamless and efficient. Customers can complete registration, verification, and account opening remotely without the delays associated with traditional branch visits.
