Ufone opens First Wallet Account for Branchless Banking

Ufone announced the opening of its first wallet account using Ubank’s branchless solution which was powered by SAP and implemented by Abacus. The account was opened by Ufone’s CEO and President Mr. Abdul Aziz at a ceremony that marked the commencement of the branchless banking solution that the company will be offering to the public in coming days.

UBank was granted the license by State Bank of Pakistan in February 2013 to operate branchless banking nationwide with the brand name of U Microfinance Bank (formerly Rozgar Microfinance Bank Limited). UBank intends to start offering branchless banking solutions to masses in upcoming days, for which the pilot project is already underway.