HBL Express and NADRA Launch Branchless Banking Services

HBL has joined hands with NADRA Technologies Limited (NTL) to launch branchless banking services.To further pursue the vision of financial inclusion, financial literacy and strengthening outreach.

The product suite includes Domestic Remittance backed by Mobile Wallets, Microfinance Loan Repayments, G2P Payments and International Remittances in the future. NTL e-Sahulat hosts a nationwide presence with 8000 plus touch points serving the underprivileged stratum of the economy.

Taking forward its vision of “Enabling people to advance with confidence and success,” HBL, the largest commercial bank in Pakistan, launched their branchless banking initiative called HBL Express in 2013. Introduced as a channel to provide basic financial services at a micro-economic level, branchless banking has evolved as a parallel banking system which now caters to a diversified range of market offerings with unique service values, mobility and simplicity.

Mr. Faiq Sadiq, Head – Payment Services Group at HBL commented “the centerpiece of inception of branchless banking services is financial inclusion. Less than 13 percent of 190 Million people residing in Pakistan are in any form of direct formal relationship with a financial institution. The remainder of 87 percent relies on informal means to meet their day-to-day financial needs. HBL aims to bring these unbanked segments of economy into a formal financial blanket.” Mr. Sadiq further added that this arrangement is a leap forward for the industry in Pakistan.

On this occasion,Mr.Saleem Rafik,Director Generation Operations NTL said that NADRA e-Sahulat was the first platform to offer electronic payment of utility bills through franchised model.Today it offers the domestic remittance and other branchless banking services in collaboration with HBL Express. This collaboration is a one of a kind joint-venture since most banks are partnering with telcos /mobile carriers for branchless banking.He further highlighted that our solution is not only seamless and swift but also has been further secured as CNICs of senders and receivers are verified by NADRA for each transaction. This unique feature will not only facilitate consumers with added advantage to avoid errors but will also facilitate the banking industry for financial inclusion and allow for transparent transactions.

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