Allied Bank Advances Metaverse and Web3.0 Initiatives in Partnership with Synapsify Systems and Fasset September 25, 2023 September 25, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 25, 2023 by Kelly Cromley

Allied Bank Advances Metaverse and Web3.0 Initiatives in Partnership with Synapsify Systems and Fasset

In a strategic move to stay at the forefront of innovation and uphold its commitment to delivering a superior digital banking experience, Allied Bank (ABL) has unveiled its latest initiative aimed at advancing its Metaverse and Web3.0 endeavors for its clientele. This significant stride has been made possible through a collaborative effort with Synapsify Systems (SSL), a company renowned for its deep-rooted expertise in technology research and development, and Fasset, a Web3 fintech entity based in the United Arab Emirates.


Transforming the Metaverse Experience for ABL Customers


This groundbreaking project is poised to empower both existing and prospective ABL customers with an enhanced virtual interface within the Metaverse. This virtual touchpoint will provide users with the opportunity to personalize their avatars while gaining valuable insights into the bank’s array of offerings and other essential features.


The formal agreement sealing this partnership was recently signed by key representatives from each organization. Signatories to the agreement included Muhammad Zaman, Group Head of Digital Business at ABL; Dr. Shahzor Ahmad, CEO of SSL; and Fahad Azeem, CEO of Fasset Pakistan (Diamond Technology Limited).


The signing ceremony, a momentous occasion, saw the presence of senior management representatives from all participating parties. ABL was represented by luminaries such as Mujahid Ali, Chief Technology & Digital Transformation; Mohsin Mithani, Chief Digital Officer; Zubair Sharif, Chief Banking Services Group; and Nauman ul Haq Qureshi, Chief Information Technology Group. Taimoor Shamsi was the notable presence from Fasset. SSL’s delegation comprised of COO Dr. Saifullah Awan, CTO Muhammad Danish Ashraf, and Project Manager (Metaverse Engineering) Shehryar Ahmad Khan.


Digital Transformation Aligned with Strategic Vision


Speaking about this momentous collaboration, Mohsin Mithani, Chief Digital Officer at ABL, remarked, “This partnership is fully aligned with Allied Bank’s strategic approach to digital transformation and furthers our plans to address the growing demand of digital native customers through continuous evolution of our Web 3.0 offerings.”


Fasset’s Commitment to Financial Inclusion and Innovation


Echoing the sentiment of collaboration, Daniel Ahmed, Chief Operating Officer of Fasset, stated, “Through this partnership, Fasset reinforces its commitment to strengthen the digital financial infrastructure of developing economies like Pakistan, ushering in an era of financial inclusion and innovation together with our esteemed partner, Allied Bank.”


The alliance between ABL, SSL, and Fasset marks a significant milestone in the banking and fintech sectors. It underscores the importance of leveraging emerging technologies such as the Metaverse and Web3.0 to cater to the evolving needs of a digitally savvy customer base. This initiative not only aligns with ABL’s forward-thinking approach but also signifies Fasset’s dedication to fostering financial inclusivity and technological innovation in emerging markets like Pakistan.


Enhancing the Metaverse Experience


Under this partnership, ABL customers will have access to an upgraded virtual touchpoint within the Metaverse, offering a personalized experience. Users can customize their avatars while exploring the myriad services and features provided by the bank. This innovative approach to virtual banking opens up new avenues for customer engagement and interaction in an increasingly digitized world.


Leaders Driving Transformation


The involvement of key leaders from ABL, SSL, and Fasset underscores the strategic importance of this initiative. By combining ABL’s banking expertise, SSL’s deep technology insights, and Fasset’s fintech prowess, this collaboration is poised to reshape the digital banking landscape in Pakistan and beyond.


A Commitment to Financial Inclusion


Fasset’s commitment to bolstering the digital financial infrastructure in developing economies is a testament to the positive impact that the Metaverse and Web3.0 technologies can have on financial inclusion. As the partnership unfolds, it is expected to bring forth innovative solutions that cater to the financial needs of diverse customer segments.




In conclusion, the collaboration between Allied Bank, Synapsify Systems, and Fasset represents a significant stride in the realm of digital banking. By embracing the Metaverse and Web3.0 technologies, these organizations are poised to usher in a new era of customer-centric banking experiences and financial inclusivity. As they work together to realize their shared vision, the future of digital banking in Pakistan looks promising and dynamic.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.