PPCBL signed a memorandum of understanding (MOU) on Branchless Banking with IT Butler e-Services today in the committee room, PPCBL Head Office, The Mall, Lahore. The MOU was signed by Mr. Syed Talat Mahmood, President/ CEO PPCBL and Mr. Dr. Muhammad Manshad Satti, CEO, IT Butler e-Services.
Mr. Syed Talat Mahmood, President/ CEO PPCBL welcomed IT Butler management to PPCBL. It is a beginning of a wonderful partnership he said and as a technology partner, IT Butler will help develop state of the art branchless banking network and consequently PPCBL will be able to serve a wider segment of the market.
Dr. Muhammad Satti CEO IT Butler thanked CEO and the Head IT of the PPCBL for the opportunity. He introduced his company to the audience and gave a brief overview on the terms of the memorandum, He said, “IT Butler e-Services and its consortium partners congratulate PPCBL Bank in taking a pioneering initiative by considering BOT structures for the development of state of the Art branchless banking platform for serving underprivileged population of Punjab. We are immensely pleased at the opportunity of PPCBL Bank on the first of its kind of BOT program”. We shall approach to other small and medium banks in Pakistan to follow the PPCBL decision and enter into more challenging and fast growth line of business he added.
In current economical state of affairs in Pakistan and particularly for Banks, upfront investment for such projects where multiple external stakeholder are involved and ROI is not appropriate. We appreciate the farsighted pronouncement by PPCBL’s management for signing this MOU for BOT of branchless Banking which will enable PPCBL for rapid market penetration and taking leverage of our global experience in financial market. We are confident that the PPCBL shall grasp the market share of branchless Banking as well as facilitate their affiliate societies using our platform said by Syed Sabur Rehman Chairman IT Butler e-Services Dubai – UAE.