The future of mobile banking is exciting! Nearly everything is done on our phones today, but for many, the way they engage with an Islamic bank remains unchanged. That’s why we’re working with Jingle Pay, a NEO bank on a quest to provide its users an inspiring digital experience! With modalities of Sharia compliance integrated into their peer-to-peer transfer, international remittances, multicurrency payments its users will have banking at their finger-tips. Their app is a mobile-first, social NEO-bank designed around financial inclusion and incorporates a range of features such as spend categorization, P2P payments, bill splitting functionality, and budgeting tools to help you save money.
We’ve been working with Jingle Pay’s examining their mobile application, product setup and business operations. We’ve reviewed their contracts, and custodian agreements with depository institutions – including a series of binding commitments with partner banks, money exchanges and card scheme provisions. We’ve also studied their POS access, custodian agreements that interoperate with depository institutions. These operations will continue to be supervised through our Sharia audit so that you can be assured that Jingle Pay is living up to its commitments on Sharia compliance.
So that’s the new Jingle Pay—we hope their differentiated capabilities guided by our Sharia advisory services marks a big step in delivering an exciting future of mobile banking!