Habib Bank Limited Pakistan or HBL is targeting towards the financial technology FinTech.
HBL FinTech by Habib Bank Limited Pakistan will bring great enhancement in the branchless banking. However, they launched the innovation challenge to find key startups that can bring efficient and new financial ideas and solutions.
Habib Bank Limited Pakistan CEO, Aurangzeb said that to survive in the consumer financial market of 21st century. HBL and other banks should come to an end to considering banking as the core service. However, they have to start thinking themselves as the IT organization with a banking license.
According to sources, HBL FinTech challenge was based on five different themes. However, regulatory reporting, automation, customer authentication, artificial intelligence, and data protection were included.
Habib Bank Limited Pakistan has the largest branch network in Pakistan. However, HBL has more than 1,700 physical locations countrywide. The major part of its infrastructure was developed from the days when it was owned by government.