KARACHI: Askari Bank Limited and Zong have entered into a joint venture to launch branchless banking services in the country.
Askari Bank Ltd in collaboration with Zong has become one of the leading banks to offer branchless banking services under “Bank Telco” JV arrangement, said a press statement on Thursday.
The pilot launch is now offering conventional banking services currently salary disbursement for large-scale organisations and account to account transfer through mobile channel.
The service is powered by Inov8 which is one of the leading technology companies in Pakistan and one of the first to provide mobile commerce service in the country, the statement said.
Speaking on the occasion of the pilot launch, President Askari Bank Ltd M R Mehkari said, “Our vision to be the bank of first choice in the region demands continuous strive for creation of best and innovative financial products, services and business opportunities for our valued customers. At the same time it is our duty to maintain our core values so as to meet our obligations towards all the stakeholders in the most befitting manner”.
He said that over 80 percent of the population has no access to banking facilities. Branchless banking is the tool to cater to the banking needs of this vast unbanked community, courtesy of mobile phone networking which has penetrated to almost 60 percent of the population of the country.
Speaking on the occasion, CEO of Zong Fan Yunjun said “Our world is changing very fast and we intend to continue being at the forefront of this change”.
He said that partnering with one of the most reputable bank of the country, i.e.
Askari Bank Ltd, is an opportunity for Zong to emphasis on its endeavours to provide best networking solutions to the people of Pakistan to enhance the comfort and quality of life through this new product the branchless banking services of Askari Bank Ltd.