HBL mobile banking offers a seamless digital banking experience and enables fast and secure transactions. Its goal is to improve mobile banking experience through advanced technology. To this end, it is now available on the Android and iOS platforms. It also features a convenient and secure mobile app and a secure environment for all customers.
User base growth of 39 percent
HBL entered Q1 2020 on a high note, accelerating its business momentum in the first two months of the quarter. This growth came despite the global COVID-19 public health crisis which impacted the financial system and affected business activities globally. The bank’s resilience, passion, and sense of responsibility to serve its customers were evident in the way it dealt with the crisis. Its user base grew by 39 percent to over one million during the quarter.
HBL’s pivot to digitisation has transformed the bank’s response to the emergence of new technologies and changing customer expectations. In response, the bank has launched new business models and launched cutting-edge mobile and internet banking platforms. One of its flagship products is HBL Pay Checkout, an ecommerce payment gateway that has seen rapid growth over the past few years, growing by more than 31 percent year-on-year.
In addition, the bank has centralized its digital onboarding process for branch customers. The new process has reduced the need for customers to undergo the documentation process each time they visit a branch. Instead, branch staff can review customer information in real-time, resulting in a more seamless experience for all parties involved.
Increase in active users of Konnect
Besides providing convenient access to online and mobile banking, Konnect for HBL mobile banking also features more than 250 payment companies. This allows users to make hassle-free payments through most digital channels in Pakistan. The app also includes an API gateway to integrate with the global payments ecosystem.
In the first half of 2018, HBL’s domestic business continued to expand. Its total deposits grew by more than Rs. 400 billion, enhancing its market share to 14.4%. In addition, the bank added Rs 119 billion in domestic CASA deposits, pushing its CASA ratio above Rs. 1.1 trillion. Meanwhile, the bank’s domestic advances grew by 9.0% over December 2017. The bank’s consumer lending portfolio performed well, reaching Rs. 1.8 trillion in the first half of 2018.
HBL has reported growth in both the number and the value of mobile banking transactions. Since launching its mobile banking app in 2016, the bank has added more than one million users to its mobile app. The company has also launched an integrated solution, HBL Pay, to help businesses streamline their payment and onboarding processes.
Increase in administrative expenses
HBL is a leading corporate bank in Pakistan. The company recently reported a huge increase in its net interest income and profit growth due to an improved economic environment. The bank attributed this growth to increased remittances, which led to a large buildup of excess liquidity in the banking sector. HBL operates over 1000 point-of-sale terminals nationwide. Its focus is on technology and innovation.
The bank has been actively working on the digital experience for its clients. According to its latest figures, mobile banking volumes more than doubled from Rs95 billion in Q1 2020 to Rs212 billion in Q1 2021. HBL’s Konnect App had 1.8 million active users in Q1 2020 and over 1 million users in Q1 2021. The bank also reported that the traction volume through its HBL Mobile app increased by 127% over the same period last year.
HBL continues to focus on its customers despite the difficult financial situation. Its domestic loan book has increased by Rs91 billion, thanks to growth in Islamic and consumer lending. HBL also continues to improve its recovery metrics. In the first half of the year, it recorded a reversal of Rs240 million against loans, while provision against loans was Rs 564 million. The bank’s coverage ratio improved to 91.7%, further reducing the company’s administrative expenses.
Impact on customer experience
With the advent of HBL mobile banking, customers now have the option of accessing their accounts through their mobile devices. This streamlined process allows customers to make deposits and withdrawals in as little as 15 minutes. HBL’s new mobile banking app also integrates a personal finance manager, lifestyle options, and widgets into the user experience.
The overall satisfaction of customers is determined by a number of factors. These include staff behavior, availability of ATMs, and customer service. These variables are directly related to the customer’s experience. Banks should strive to improve their overall service quality to increase customer satisfaction. This is not an easy task, though.
Although ATM machines are user-friendly, many customers still use cheques to withdraw cash. Furthermore, many banks take days to issue ATM cards and cheque books. This can lead to an angry customer. This means that banks are not paying enough attention to developing a close relationship with their retail customers.