(L to R: Mr. M. R. Mehkari, President Askari Bank, Mr. Qazi Muqtadir, Dep. Governor SBP, Mr. Zhang Jianxin, Chinese Consul General, Mr. Fan Yunjun, CEO Zong pressing the button for unveiling the TimePey brand.)
Inov8 – Official Release
Inov8 Limited is proud to announce the launch of Askari Bank and Zong’s ‘Timepey’, the largest mobile and branchless banking initiative in Pakistan, which is powered by Inov8 technology.
Inov8 Limited’s technology and consulting services have helped bring together the largest mobile and branchless banking initiative in Pakistan, where one of the strongest banks in the country, Askari Bank, has partnered with the largest mobile operator in the world, Zong (China Mobile Pakistan) to provide mobile financial services for the approximately 180 million people living in Pakistan.
On December 1st Zong (China Mobile Pakistan) and Askari Bank Limited announced the commercial launch of their “Timepey” mobile and branchless banking service. The service is powered by Inov8 Limited’s flagship mobile and branchless banking platform, i8 MicroBank and is designed to help increase banking outreach and facilitate payment services to the over 180 million population of Pakistan.
Incorporated in 2004, Inov8 provides consulting and technology solutions for:
- Branchless banking
- Mobile banking and commerce services
- Mobile payments life cycle management
- Financial system design and integration
- Mobile commerce strategy
- Regulatory and compliance
- Mobile commerce product development via innovation and R&D
Inov8 has grown to become the single largest platform provider for m-commerce solutions in Pakistan. Timepey – a collaboration between Askari Bank and Zong – offers customers the benefit of a nationwide agent network, mobile access to accounts, utility bill payments, domestic remittances, account opening/withdrawal and account to account payments. End to end technology for this service has been provided by Inov8.
Speaking at the recent launch event of Timepey, President Askari Bank Mr. M.R. Mekhari praised the Inov8 team, saying
I would especially like to thank Mr. Hasnain Sheikh, Mr. Bashir Sheikh and the team at Inov8, our technology partners who have helped make this service possible.
Launched in a typical startup fashion, the Inov8 team consists of talented technical and business experts who materialize winning products and services that help provide access to the larger population through mobile and branchless banking services and help make payments more efficient.
Inov8 enables mobile payments and branchless banking solutions by providing technology and consulting solutions for all players in the eco-system including financial institutions, mobile operators, agent networks, merchants, regulators, money-transfer-organizations (MTO’s) and Governments.
CEO Zong, Mr. Fan Yunjun highlighted Inov8’s role as a strategic partner in enabling Timpey and the mobile payment ecosystem.
Inov8 is our long term strategic partner in this initiative and I would like to thank Mr. Hasnain Sheikh, Mr. Bashir Sheikh and their team for their efforts for enabling the Timepey service.
Mobile financial services represent a fundamentally transformational opportunity to connect millions of people to the formal economy. With the ability to act as a secure, authenticated, reliable and personalized delivery platform, mobile financial services can significantly help in increasing banking penetration and making payments more efficient.