Banking Digitalization
Banking Digitalization
Banking Digitalization
Banking Digitalization
Citizen Migration to Digital Banking
Citizen Migration to Digital Banking
Citizen Migration to Digital Banking
Citizen Migration to Digital Banking
Overview
Overview
Overview
A nationwide innovation and digital transformation initiative for United Bank Limited (UBL) and State Bank of Pakistan. The goal was to migrate citizens from conventional bill payment to digital and introducing RAAST payment to do digital inclusion.
A nationwide innovation and digital transformation initiative for United Bank Limited (UBL) and State Bank of Pakistan. The goal was to migrate citizens from conventional bill payment to digital and introducing RAAST payment to do digital inclusion.
A nationwide innovation and digital transformation initiative for United Bank Limited (UBL) and State Bank of Pakistan. The goal was to migrate citizens from conventional bill payment to digital and introducing RAAST payment to do digital inclusion.
Client
Client
Client
United Bank Limited
United Bank Limited
United Bank Limited
Year
Year
Year
2023
2023
2023
My Role
My Role
My Role
Innovation & Product Manager
Innovation & Product Manager
Innovation & Product Manager
The Challenge
The Challenge
The Challenge
Despite growing digital adoption in the region, most transactions still happen inside branches, and it increases the cost for the bank.
Defining the Problem
Defining the Problem
Defining the Problem
UBL handles a substantial share of Pakistan’s PKR 3.5 trillion bill payment market.
Despite this:
Less than 10% of payments are digital
The rest are made through branches, costing millions every year
Why It Matters
Why It Matters
Why It Matters
Cost of Transaction in Branches
Cost of Transaction in Branches
Cost of Transaction in Branches
170 PKR
170 PKR
Cost of Transaction on Digital
Cost of Transaction on Digital
Cost of Transaction on Digital
2 PKR
2 PKR
If we migrate 80% of bill payments from branches to digital, we can potentially save PKR 1500 M per year.
If we migrate 80% of bill payments from branches to digital, we can potentially save PKR 1500 M per year.
Understanding the Customer
Understanding the Customer
Understanding the Customer
Through branch visits, interviews, and field research across 25 branches, I identified five major audience segments walking into branches:
Through branch visits, interviews, and field research across 25 branches, I identified five major audience segments walking into branches:
Anwar
UnBanked
Banked
Education
Digital Literacy
Findings
He often pays bills that are not his own
Unbanked
Anwar
Unbanked
Findings
He often pays bills that are not his own
Zubair
UnBanked
Banked
Education
Digital Literacy
Findings
He often relies on a proxy to pay bills at the branch due to low trust in digital payments.
Trust Issues
Zubair
Trust Issues
Findings
He often relies on a proxy to pay bills at the branch due to low trust in digital payments.
Kashif
UnBanked
Banked
Education
Digital Literacy
Findings
He is not a UBL customer and pays his bill at the nearest branch.
Non-UBL
Kashif
Non-UBL
Findings
He is not a UBL customer and pays his bill at the nearest branch.
Mehreen
UnBanked
Banked
Education
Digital Literacy
Findings
She is hesitant to make digital payments due to fear of errors and low trust in the system.
Tech Hesitant
Mehreen
Tech Hesitant
Findings
She is hesitant to make digital payments due to fear of errors and low trust in the system.
Adil
UnBanked
Banked
Education
Digital Literacy
Findings
He pays bills at the branch due to a lack of access to digital business banking tools.
Lack of Options
Adil
Lack of Options
Findings
He pays bills at the branch due to a lack of access to digital business banking tools.
How Might We Offer Trusted Alternatives to Accelerate Digital Payment Adoption
How Might We Offer Trusted Alternatives to Accelerate Digital Payment Adoption
Click on the persona to see the proposed solutions!
Click on the persona to see the proposed solutions!
Click on the persona to see the proposed solutions!
App Bill Payment Journey Enhancement
App Bill Payment Journey Enhancement
App Bill Payment Journey Enhancement
I redesigned and developed the entire digital journey to make it more simpler and quicker. From adding a bar code scanner to new redesigned receipt resulted in a shorter, cleaner, more trustworthy flow.
I redesigned and developed the entire digital journey to make it more simpler and quicker. From adding a bar code scanner to new redesigned receipt resulted in a shorter, cleaner, more trustworthy flow.
I redesigned and developed the entire digital journey to make it more simpler and quicker. From adding a bar code scanner to new redesigned receipt resulted in a shorter, cleaner, more trustworthy flow.
UBL BillPay - Pay Without Login
UBL BillPay - Pay Without Login
UBL BillPay - Pay Without Login
Defining Digital Advisor Journey
Defining Digital Advisor Journey
Defining Digital Advisor Journey
Impact Achieved
Impact Achieved
Impact Achieved
Total impact seen by August 2023:
Total impact seen by August 2023:
Total impact seen by August 2023:
15% increase in digital bill payments
15% increase in digital bill payments
15% increase in digital bill payments
22% decrease in branch bill payments
22% decrease in branch bill payments
22% decrease in branch bill payments
PKR 90 M saved in a month
PKR 90 M saved in a month
PKR 90 M saved in a month
What This Project Shows About Me
What This Project Shows About Me
What This Project Shows About Me
What This Project Shows About Me