Khushhali Microfinance Bank Limited (KMBL) – a leading financial institution in Pakistan, has pioneered another technological advancement to add convenience for its customers, with a mobile-banking solution. This state-of-the-art digital tool enables ‘remote-monitoring’ of your KMBL account, even if the account-holder uses a basic ‘Feature-Phone’. The customers do not need to own a smartphone for using this new service, which is based on a secured Unstructured Supplementary Service Data (USSD) channel, to ensure accessibility without the need to physically visit a bank branch or own a smartphone.
In the first phase of this innovative venture, all the KMBL customers using Zong, Ufone, and Jazz/Warid telecom services will be able to avail the Khushhali USSD Mobile Banking, simply by dialing *8226#. During the initial phase, this solution will offer basic features like Loan-Account Inquiry, and Account Balance Inquiry for the Current and Saving Accounts.
The President of KMBL – Ghalib Nishtar stated: “Introduction of this revolutionary service is another milestone in KMBL’s journey towards digital transformation. Following our vision, we strive to offer highly evolved banking services, on-the-go, round-the-clock, while we are striving to resolve the socio-economic challenges and financial-security issues faced by the masses, especially during the global Covid-19 pandemic. This venture is in line with global best-practices and the vision of State Bank of Pakistan (SBP), to enable online access to banking for the consumers.”
KMBL’s technology partner for this project is: “Virtual Remittance Gateway (Private) Limited” (VRG) – a TPSP company, duly licensed by SBP and Pakistan Telecommunications Authority (PTA), to perform ‘Interoperable-Payments’, along with channeling, routing, and switching of electronic-transactions, using Unified USSD service.
Being one of the most resourceful institutions in Pakistan – KMBL is evolving in sync with the highly competitive banking industry of the country. It is deploying the latest mobile-banking solutions, in compliance with the government’s favorable policies, to inspire and elevate the nation at par with the developed world.
