HBL’s debut in the branchless banking business will create competition among other established names in the market like Easy Paisa (a joint venture of Telenor Pakistan and Tameer Bank), UBL Omni (a branchless banking venture of United Bank Limited) and Mobilink’s branchless banking which is a team-up with Nadra’s e-sahulat.
Sybase 360, which is the global leader in mobile messaging and mobile commerce services will provide technology support and Abacus Consulting a leading management and technology consultancy firm will deploy the project.
According to sources, HBL has invested millions of dollars for the marketing of the project as it aims to launch the project on a large scale.
HBL claims that their branchless banking solution will introduce more Unique Selling Points (USPs) by enabling customers to pay taxi fares, gas station charges or other similar retail transactions with their mobile phones. HBL’s branchless banking will also offer international remittances from mobile phones as well.
Azfar Jamal, head of branchless banking at HBL, in a conversation with ProPakistani said that Sybase 365 will provide technological infrastructure and software solution for the project, while Ufone will give USSD access and Abacus Consulting will be responsible for the deployment of the project.
However, HBL’s partnership with Ufone won’t be exclusive as they may get other operators on board to expand their market reach.
HBL currently operates through a nationwide network of 1500 branches and it plans to get about four-five million of their existing customers for branchless banking solutions.
A version of this post originally appeared on ProPakistani.
COMMENTS (9)
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@Huma: Please get your definitions correct
http://www.investorwords.com/3420/onlinebanking.html http://en.wikipedia.org/wiki/Branchlessbanking
@Imran Farooq: again depends where you open your account. Branch matter a lot in these cases
@HBL well wisher: Dude some times its done on purpose from the branches itself. I suggest you pick a a branch which is a HUB or a reputation of keeping esteem clients. Lastly call helpline
This bank seems to have been run by Me Beans....when it comes to attitudes of its employees towards themselves and their clients....ultimately the customers suffer.
Let see how they provide the facilities to the valued customers.
When a bank cannot even maintain the ATMs outside its branches, what kind of service it will provide is easy to guess. If anyone in HBL reads this, just check the down time and frequency of your ATM in F-10 Markaz Islamabad branch in the past 6 months.
Disclaimer: I am an account holder for about 2 decades as well as a shareholder in HBL.
The word is "online" banking and not "branchless" banking.
A great move that will not only lower the rush in branches but also increase the deposit. As 84% of population is still unbanked in this technological edge, it will give access to poor people. UBL Omni and EasyPaisa is doing great job, this will make market more completable.
Okeh... that will beat the crap out of Omni. WIN