Karachi: Habib Bank Limited (HBL) has signed a technology support agreement with Sybase 365 and AbacusConsulting for the deployment of branchless banking services.
According to a statement issued here on Thursday, Senior Management of HBL, Faiq Sadiq-Head of Payment Services, Mudassir Khan-Chief Information Officer, Tarik Husain-Business Development Director, mCommerce – Sybase 365 and Abbas Ali Khan-Senior Partner, Abacus Consulting along with other officials of Sybase365 were present on the occasion
On this occasion, Faiq Sadiq said that “This initiative of branchless banking will address 85% of the under banked population of Pakistan, through which 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”.
Mudassir Khan also commented about selecting Sybase 365 by saying: “After looking at several m-commerce and branchless banking solutions, we decided to choose Sybase 365 that is owned by SAP and is a leading global platform. We are confident that it will give us an edge as it has the required scalability, performance and interoperability to ensure that HBL provides an unmatched customer experience.”
The competitive business and technology insights of AbacusConsulting and Sybase 365 will provide a winning combination to HBL. “We are pleased to be a part of this immaculate transformation of financial sector in partnership with HBL. This initiative is a step towards making branchless banking in Pakistan commercially viable and sustainable. This large scale deployment is the first of its kind which opens door for innovation and advancement in financial sector of Pakistan”, said Abbas Ali Khan, Senior Partner, AbacusConsulting.
“Today’s global economy is becoming a mobile economy with consumers requiring convenient access to transaction channels anytime, anywhere,” said Matthew Talbot, senior vice president, mCommerce, Sybase 365. He further said that “Our partnership with the HBL to provide a leading mCommerce solution is pioneering the way customers interact with their financial institutions and communities.”
HBL’s branchless banking initiative is a large scale deployment in the region, which will create opportunities for bringing unbanked segments of society into the financial network. Sybase 365 and Abacus Consulting will implement branchless banking services for HBL and facilitate this large scale deployment for capitalizing on great market potential including rural and unbanked population.
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