J&K Bank introduces API based Open Banking Services

Excelsior Correspondent

SRINAGAR, June 24: J&K Bank has revealed its Open Banking initiative for corporate clients across the country, with Khyber Group of Companies becoming its first client under this cutting-edge platform.
Executive Director (ED) Sudhir Gupta today unveiled the initiative formally in the presence of Bank’s General Manager (Cross Selling), Narjay Gupta, General Manager (Govt. Business), Syed Rais Maqbool and General Manager (Strategy & IT), Imtiyaz Ahmad Bhat, DGMs and other senior officers.
Senior functionaries from Khyber Group including President Manzoor Ahmad Mir, Head (IT) Mohammad Ashraf Bhat and CA Haroon Bashir from Khyber Cements along with Chief Finance & Commercials Kaisar Ahmad and Executive (IT) Shabir Ahmad from Khyber Aquaculture were also present on the occasion.
Speaking on the occasion, ED Sudhir Gupta said, “The introduction of Open Banking Services for our corporate partners is another significant milestone in Bank’s digital journey. This also marks the beginning of a new era where banking services are no longer confined within branch walls, but are now embedded seamlessly within the business processes of our partners.”
In his remarks, GM Imtiyaz Ahmad Bhat said, “This initiative not only strengthens our commitment to innovation and customer-centric solutions but also empowers businesses to achieve greater efficiency and transparency in their financial operations.”
“By rolling out API-driven solutions, the Bank is positioning itself at the forefront of Open Banking Services, enabling business-to-business integration that aligns with the evolving needs of enterprise ecosystem”, he maintained.
Acknowledging the efficacy of the platform, Head IT (Khyber Cements) Mohammad Ashraf said, “As part of Khyber Group’s digital transformation journey, we are integrating directly with JK Bank’s API to automate and streamline vendor payments.”
DGM (IT) Khavar Mehraj Handoo gave an overview of the API based Open Banking in detail.

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