Sunday, January 22, 2012

E-banking to spread services to remote areas


Electronic banking has become the need of the hour as it will not only enhance business volume of banks but will also increase their outreach to unbanked areas, said Muhammad Kamran Shehzad, Deputy Governor State Bank of Pakistan (SBP).

Speaking as the chief guest at a symposium on ‘Managing ATM security and risks in its operations’ here on Tuesday, which was organised by Phoenix Armour, Shehzad said that the use of high technology has improved the retail banking model and spurred the development of new electronic retail products through alternate delivery channels, including Automated Teller Machines (ATMs), mobile phones, branchless banking and point of sales(POS).

He pointed out that statistics show ATM is the predominant alternate delivery channel of e-banking and leads the retail e-banking and online services in terms of volume.

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