Technology and Business News from Pakistan

Khushhali Microfinance Bank launches USSD Banking for remote-monitoring of accounts


It enables phone-users to remotely monitor their Khushhali bank accounts

Khushhali Microfinance Bank “launches” (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 owning a smart phone.

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

The President of KMBL – Ghalib Nishtar stated that: “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.”

Khushhali Microfinance Bank launches, 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.

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