According to the Pakistan Daily News, the Pakistan Banking Association (PBA) has signed a project contract to develop "Consonance", Pakistan's first blockchain-based bank KYC national platform. Money laundering (AML) capabilities while combating terrorist financing will additionally increase operational efficiency and improve customer experience. The Pakistan Bankers Association is a group of 31 traditional banks operating in Pakistan, and its member banks include international institutions such as Industrial and Commercial Bank of China, Citibank and Deutsche Bank.