SAMENA Daily News

'SAMENA Daily' - News

UBL launches Pakistan’s first digital branch

UBL has launched Pakistan’s first digital branch. This pilot branch is located at the Institute of Business Administration (IBA-City Campus), Karachi. True to its progressive and innovative brand attributes, UBL is the first commercial bank in Pakistan to provide its customers with state-of-the-art facilities enclosed within a cutting-edge modern design. A completely automated facility, the digital branch runs without the physical presence of any bank staff. Although a pilot branch in its current form, the digital branch is able to provide a host of services that include account opening, as well as service elements such as cash deposits and withdrawals, Inter Bank Fund Transfers, instant debit card issuance and replacement card requests. By initiating operations of this digital branch in pilot form, UBL intends to test and ensure a seamless experience for the customer. After the successful launch of the pilot branch, the bank plans to expand these digital branches nationally. Speaking at the occasion UBL President & CEO Wajahat Husain said, “Pakistan today is at the cusp of a Fintech revolution. This stems from a confluence of factors ranging from widespread adoption of digital technology to a regulator that is actively encouraging embracing of technology, with proper controls, in banking.”