Branchless Banking: SBP to Launch Asaan Mobile Account Scheme

Today, the State Bank of Pakistan (SBP) announced the launch of a new beginning called ‘Asaan Mobile Account.’

The central bank stated in a press release that the initiative was created as part of the National Financial Inclusion Strategy to help customers open remote accounts through branchless banking.

Customers will be able to open and manage their accounts from the comfort of their homes thanks to the Asaan Mobile Account initiative, according to SBP.

“The solution was growing in collaboration with the SBP, Pakistan Telecommunication Authority, NADRA, 13 Branchless Banking (BB) Providers, all Cellular Mobile Operators, and Virtual Remittance Gateway (VRG),” according to the statement.

For Asaan mobile accounts, branchless banking providers and cellular mobile operators are collaborating to provide an interoperable platform that will allow any Pakistani to open a bank account.

no internet is required to open an account, it will play a vital role in reaching the low-income part of the population that does not have internet. SBPs added.

According to the SBP, Asaan Mobile Account will be critical in reaching out to low-income segments that do not have access to the internet.

Furthermore, AMA will be an excellent channel for onboarding female customer segments, according to the company.

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