MCB Celebrates Mobile Banking Milestone
- Wednesday, February 17th, 2010
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MCB, one of Pakistans leading banks, has revealed that its MCB Mobile service has processed more than $10 million (6.4 million) worth of transactions in less than eight months since launch. A shared platform approach in Pakistan, implemented by Access Group with Fundamo technology and expertise, means that all banks and mobile operators are able to use the same technology to deliver mobile financial services to end users. The use of a single, flexible technology platform frees banks and operators to focus on developing services that appeal to consumer needs, rather than implementing proprietary technology solutions.
70,000 MCB Mobile customers have made more than half a million transactions, including mobile money transfers, bill payments, top ups and balance enquiries, since July 2009.
The Pakistani regulator is one of the most proactive in the world and this shared platform would not have been possible without its support. This is a truly unique approach that stands apart from the piecemeal, proprietary implementations in other countries, says MCB Bank EVP, Qasif Shahid. It should be viewed as a blueprint by other nations looking to emulate our early success- After the early success of MCB Mobile, we are now set to extend banking services to some 50 million, mobile-savvy, unbanked consumers, offering them secure and convenient access to financial services.