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In 2018, Aratek Biometrics joined forces with Habib Bank Limited (HBL) and a local partner in Pakistan to revolutionize the financial inclusion landscape through a branchless banking solution, HBL KONNECT. Aratek's biometric mobile terminal, BM5510, was deployed across HBL's nationwide network of KONNECT Shops, enabling swift and secure customer onboarding and various banking services.
In launching the HBL KONNECT branchless banking solution, Habib Bank Limited grappled with a series of significant challenges. As the program was aimed at achieving a wider financial inclusion, reaching out to remote areas of Pakistan was a crucial task, marked by logistical difficulties and a lack of infrastructure. The sheer volume of account holders that needed to be onboarded into the system simultaneously demanded a robust, reliable, and easy-to-use solution.
Furthermore, there was an acute need for secure, quick, and precise customer identification to ensure the safety and integrity of financial transactions. HBL also had to contend with the issue of training its agents across the country to proficiently operate the new technology, dealing with different levels of technical literacy. Lastly, the pressure of implementing this vast transformative initiative within a strict timeline added another layer of complexity to the project.
5" Biometric Handheld Mobile Terminal
Aratek Biometrics, in collaboration with a local partner, engineered a biometric e-KYC solution to streamline HBL's customer onboarding and enhance its financial services. Our flagship product, the BM5510, a highly sophisticated and rugged biometric mobile terminal, was introduced to HBL's extensive network of KONNECT Shops across the country.
Overcoming logistical challenges and executing swift deployment, our team ensured that each agent was equipped with this advanced tool within an ambitious timeframe. The BM5510 terminals are designed for field use, offering robust capabilities to scan and verify customers' thumbprints efficiently. As a result, agents could facilitate a range of banking services including account openings, funds transfers, bill payments, and mobile or internet top-ups, all backed by the secure authentication of biometric technology.
Since the launch, HBL KONNECT has witnessed an impressive surge in account registrations. Over 1 million accounts were registered through the system, testament to its ease of use and efficient onboarding. Of these accounts, 25% belonged to women, highlighting the initiative's contribution to gender equity in financial access.
The solution facilitated large-scale government-to-person (G2P) payments, effectively bridging the gap between the formal banking sector and citizens. In addition, it supported monthly transactions worth Rs 6.5 billion, testifying to the robustness of the biometric system and its capacity to handle high volumes of financial transactions.
Between July and November 2018, a total of 25,000 BM5510 biometric devices were deployed across HBL's KONNECT Shops nationwide, demonstrating an impressive operational speed and efficiency.
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