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Sunday, January 29, 2023
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HBL offers Pakistan’s first digital car financing facility

The initiative offers ease and convenience to clients through digitalization in line with the vision of the Bank of becoming a “Technology Company with a Banking License.”

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HBL has launched Pakistan’s first-of-its-kind offering in the banking industry. HBL clients can now finance a new car through the HBL Mobile App channel without visiting the branch.

Through this facility, HBL’s pre-selected conventional and Islamic banking clients can now digitally apply for car finance via HBL mobile app, a paperless process through which the facility is approved instantly. Clients can also check and track real-time application status through the HBL Mobile App till the disbursement of the facility.

The initiative offers ease and convenience to clients through digitalization in line with the vision of the Bank of becoming a “Technology Company with a Banking License.”

Read more: Investors, including HBL, participate in Finja’s Series A2 Funding Round

Commenting on the initiative, Aamir Kureshi, Head of Consumer, Agriculture, and SME Banking – HBL said “HBL is proud to launch a totally digitalized HBL Car Financing facility under Conventional & Islamic Banking via the HBL Mobile app. This follows our earlier successes of instant paperless loan approval of Credit Card & personal loans.”

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HBL has played an important role in encouraging digital payments in Pakistan. As Pakistan’s e-commerce industry grows, HBL continues to partner with Fintechs that offer secure, quick, and convenient digital payment solutions, for instance, HBL has partnered with NIFT ePay to accelerate digital payments in Pakistan.

The initiative aims to contribute substantially towards the uptake of digital payments in Pakistan and enable people to perform secure online purchases using their bank accounts. It will expand the pool of pre-paid customers for merchants, creating a win-win scenario for everyone.

Read more: HBL – A ‘Technology Company with a Banking License’

The strategic partnership between HBL and NIFT ePay will propel Pakistan’s payment ecosystem, meet the growing need for convenient and secure online payment options on e-commerce platforms, and add another layer of ease to the online shopping experience.