Karachi, 5th November, 2014: K-Electric and HBL recently entered into an agreement whereby K-Electric customers will be able to pay their bill at any HBL Branch in Karachi through the advanced mechanism of UBPS (Utility Bills Payment System). This initiative will help with timely processing & avoid manual delays in consumer payments, fraud control and transfer funds electronically into KE’s account in addition to controlling invalid and fraudulent transactions.
The agreement was signed by Mr.Faiq Sadiq HBL Payment Services Group Head and Syed Moonis Abdullah Alvi, Chief Financial Officer, K-Electric.
In their remarks, Syed Taha Muhammad, Chief Distribution Officer, K-Electric, reiterated that this initiative is a part of the Company’s technology road map implementation that aims to make the entire system cost effective and customer-centric. We believe that investing in the ongoing well-being of our customer and technology is ultimate definition of a sustainable business. We value the relationship that we currently have with HBL, and look forward to developing it further. As our strategic banking partner, HBL continues to evolve with innovation to strive for seamless and efficient bill payment mechanism for KE consumers.
Mr. Faiq Sadiq, Head, Payment Services Group – HBL, stated “With the most diverse array of products and an unparalleled branch network of over 1600 branches across Pakistan, HBL’s Cash Management focus remains on efficient financial processes providing visibility and control to K-Electric thereby dramatically reducing its risk and increasing efficiency. At HBL, we are firmly committed to help K-Electric achieve their treasury and working capital goals while allowing K-Electric to better serve their customers.”
The shifting of volumes from manual to online processing solution provided by HBL will benefit not only the consumers but K-Electric as well increasing operational efficiencies and customer convenience.