Habib Bank Limited (HBL) has launched its own
branchless banking service.
HBL is looking to tap into a fast developing
market for branchless banking in Pakistan and deploy the initiative
on a mass scale, creating opportunities for bringing unbanked and
rural population into the financial network.
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The Pakistani bank has collaborated with
Sybase 265, a mobile messaging and mobile commerce service
supplier, and management and technology consultancy firm Abacus
Consulting for the roll out of the service.
Faiq Sadiq, head of payment services at HBL
said:
“About 85% of the unbanked population of
Pakistan can be brought into the financial system”.
“[Therefore] HBL is looking to enhance its
number of customers substantially as well as focus on a systematic
strategy of financial inclusion leading to inclusive growth in this
region”.
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