Inov8 – Official Release
Islamabad, June 22 2014: BOP, Zong and Inov8 signed an MOU to announce their partnership for digitizing government flows via the branchless channel.
Branchless Banking is the provision of financial services through neighborhood retail shops whereby the financial services are offered to the unbanked population at their doorsteps. This is a first of its kind arrangement wherein service providers with existing market experience are coming together to provide the services which are aimed at poverty alleviation and financial inclusion of the under privileged masses.
There are 2 areas to focus for successful implementation: i) The Technology ii) The Agent Network (distribution side). BoP has entered into an MoU with Zong and Inov8 as both organizations have local market presence, expertise and existing experience which they aim to bring together to build synergies for best service offering. Continue reading
Tags: branchless banking, Inov8 Limited, Pakistan, The News, multi-channel mobile banking, The Agent Network, mobile payments, The Bank of Punjab, i8, MFS services, ATMs, telcos, next generation Mobile Financial Services, 4G, banking services, bank, MOU, 3G, Visa debit cards, mcommerce, Islamic bank, value-added services, BOP, technology, retail banking, Mr. Naeemuddin Khan, money transfer, Digitizing Government flows, smart phones, mobile commerce