Today, the State Bank of Pakistan (SBP) will introduce Asaan Mobile Account (AMA), a new initiative (Monday). The project was created as part of the National Financial Inclusion Strategy with the goal of making remote account opening easier through branchless banking.
Customers would be able to open and manage their accounts with any of the participating branchless banking providers from the convenience of their own homes, without having to visit a branch.
SBP, Pakistan Telecommunication Authority (PTA), National Database and Registration Authority (NADRA), 13 Branchless Banking (BB) Providers, all Cellular Mobile Operators (CMOs), and Virtual Remittance Gateway collaborated to design the solution (VRG).
For Asaan Mobile Account (AMA), branchless banking providers and cellular mobile operators are working together to create an interoperable platform that will allow any Pakistani to open a bank account.
SBP believes AMA will be critical in reaching out to low-income groups that do not have internet access. Furthermore, AMA will be an excellent channel for attracting female customers.
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