Germany-based software firm SAP has enabled U Microfinance Bank (UBank), a Pakistan-based lender, to achieve mobile banking growth in the country through Upaisa initiative, which is powered by SAP Mobile Inclusive Banking solution.

The Upaisa allowed customers to easily perform banking operations such as transfer funds, pay utility bills, deposit and withdraw cash and check account information from their mobile devices.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

In the six months period since its launch, from July to December 2013, the Upaisa has enabled UBank to generate over 17,000 registered accounts and processed around 2.4 million transactions worth INR11.1bn ($106m).

UBank CEO, Arif Sirhindi, said the country’s high mobile penetration rates create an opportunity to drive financial inclusion for everyone, including the lower and middle income segments of the population, so that they can gain access to financial services anytime and anywhere from basic mobile devices.

"We selected SAP because SAP Mobile Inclusive Banking allowed us to offer a previously inaccessible population formal financial services cost effectively, and allowed our customers to establish a banking relationship in a more convenient and reliable way," Sirhindi added.

SAP APJ mobile head, Matthew Talbot, said the SAP solution has enabled UBank to offer mobile-driven financial services to customers in Pakistan through an agent network enabled by basic feature phones, smart phones and online portals.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"UBank is now able to manage ‘low value’ accounts cost-effectively and expand its B2B business portfolio by servicing mobile money solutions to mobile network operators, consumer product and retail companies," Talbot added.