HBL, in a first of its kind partnership, has enabled the acceptance of Finja Debit Cards on the Bank’s ATM network free of cost. Through this arrangement, the Finja Debit Cardholders will have free access to HBL’s extensive network of over 2,100 ATMs, the largest in the country.
As part of expanding access to HBL’s banking technology, this cutting-edge facility will enable Finja Debit Cardholders to process self-service transactions such as cash withdrawals and fund transfers without any cost via HBL’s ATM network.
This initiative furthers HBL’s vision of becoming a ‘Technology Company with a Banking License’, as it will facilitate in providing innovative solutions and unmatched open Application Programming Interface (API) banking services through the Bank’s digital assets like Konnect by HBL, Mobile and Internet Banking platforms for new-age companies and clients.
Commenting on the collaboration, Sagheer Mufti, Chief Operating Officer – HBL said,
“HBL has taken one more step towards customer convenience by leveraging its digital platforms. The partnership with Finja will extend our business model by providing access to HBL’s vast network.”
Qasif Shahid, CEO & Co-Founder – Finja remarked, “Collaboration between banks and fintech is imperative to foster the digital ecosystem and platform-based business models. HBL through this partnership is clearly leading the way.”
HBL’s landmark investment in Finja
Back in May, HBL became the first bank in Pakistan to invest in a digital fintech startup with its Rs176 Million (USD 1.15 Million) participation in the last tranche of Finja’s Rs1.56 billion (USD10.15 Million) Series A1 round.
HBL inks Landmark Investment in Finja, Pakistan’s leading Digital SME Lending Fintech with Rs. 176 million participation in Finja’s Rs. 1.6 billion Series A1 round. HBL is the first bank in Pakistan to invest in a fintech startup. @StateBank_Pak @GovtofPakistan @FinjaPvtLtd pic.twitter.com/Vd095uArQI
— HBL (@HBLPak) May 27, 2021
Muhammad Aurangzeb, President & CEO – HBL, and Qasif Shahid, CEO and Co-Founder Finja signed the two organizations’ agreement. Umer Munawar, COO and Co-Founder, and Monis Rahman, Chairman and Co-Founder were also present at the occasion.
For HBL, an investment in Finja serves two of the bank’s strategic priorities, namely, making investments into Digital Financial Inclusion and Development Finance companies, especially ones making an impact in agriculture and SMEs as these are the backbone of the economy, and proactively reinventing HBL to become a “technology company with a banking license”.