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UBL introduces Digital Branch at IBA Karachi for the first time

Faryal Nadeem Mar 18, 2017
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Karachi—UBL has launched its first Digital Branch in Pakistan. The branch is located at the Institute of Business Administration City Campus Karachi. UBL proves to be the first progressive and innovative brand, which provides customers excellent facilities accompanied with modern design. It is an entirely automated service; the Digital Branch will run without the assistance of physical presence of any staff member. However, the pilot branch is still operating, but the Digital Branch offers a wide variety of service, which includes account opening, service elements such as withdrawals, cash deposits, instant debit card issuance, Inter Bank Fund Transfer and replacement card requests.

After initiating the operations, UBL has tested, the Branch to ensure seamless and great experiences for customers. The pilot branch is launched successfully, and the bank plans to expand this idea by incorporating the Digital Branches all over the nation.

Customers are facilitated and greeted through bank transactions by using a different combination of digital technologies, which are, located remotely teller accessed through a video link. The features allow the digital Branch of UBL to accede even after the working hours.

President and CEO UBL, Mr. Wajahat Hussain and the Executive Director of State Bank of Pakistan SBP Mr. Syed Irfan Ali inaugurated the UBL digital branch. The occasion also had Dr. Izhar Hussain Director Centre for Executive Education, IBA and the officials from IBA, UBL, SBP Karachi.

The President and CEO UBL Wajahat Hussain said that

Pakistan is on the cusp of Fintech revolution. The stems from a confluence of factors ranging widespread adoption of digital technology to a regulator, which is actively encouraging embracing the technology with proper controls in banking. It is great to support the disruptive technological developments in Pakistan because it will accelerate national objective of Financial Inclusion. This will help to serve the customers better with innovative products for best services. The first kind initiative is led UBL which add stimulus to the vibrant technology based on the financial sector of Pakistan.

The Executive Director SBP Syed Irfan Ali said that

“SBP sees Digital Banking as the future of banking and this initiative of UBL will help to enhance the financial inclusion. The facility seems unique at the IBA which would spread the Fintech culture in Pakistan.”

UBL is one of the Pakistans largest banks in the private sector; the bank network operates more than 1375 branches all over Pakistan with 19 branches overseas. It is declared as the Pakistan Best Bank 2016, and the entity rating has been upgraded to AAA/A-1+. The Bank was able to maintain the leadership all among the branchless banking through UBL Omni that has a network of 42000 Dukaans in Pakistan. The base of the customer was also over 4 million, which leads the financial and banking services sector in Pakistan. Customers across the world can access the world class UBL Internet Banking 24/7.