Everything You Need To Know About Branchless Banking
The banking system of Pakistan has come a long way from how it was just a decade ago. With strong emphasis on digitizing the many banking facilities, the aim is to fulfill the needs of today’s generation who prefers things on-the-go as compared to the conventional banking system that involved waiting in long lines to pay utility bills, deposit cash, clear a query, etc.
The banking system of Pakistan has come a long way from how it was just a decade ago. With strong emphasis on digitizing the many banking facilities, the aim is to fulfill the needs of today’s generation who prefers things on-the-go as compared to the conventional banking system that involved waiting in long lines to pay utility bills, deposit cash, clear a query, etc.
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Everything You Need To Know
About Branchless Banking
• Branchless banking has revolutionized the way we look at banking
today. Through merging Information Communication Technology (ICT)
and Business Process Re-engineering (BPR), we are no longer limited
to avail banking facilities in their brick-and-mortar site, but can do so
in the comfort of our homes, the nearby shops, etc. This shift in the
way we fulfill our financial needs evolved from our generation’s hardpressed
routines and our lack of time and energy to spend on
redundant tasks, such as paying utility bills, depositing or withdrawing
cash, etc.
• Branchless banking, in its essence, allows:
• An increase in serving points outside the bank so as to provide
maximum accessibility to the customers.
• Ease in opening an account.
• Transferring funds to and from the branchless banks and their regular
account.
• Transfer of funds by the BB account holder to any non-BB account
individual
• Payment of utility bills through the BB account
• Purchasing goods/services through the BB account.
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