Abstract:
Branchless banking is the new hype in financial services which are provided to the
consumer in the Pakistani market. These services are initiated to cater the needs of the
population not able to avail the facilities offered by the banking sector. Through this
research project, the purpose was to see whether the branchless banking services are
delivering on the service level promised through their advertisement and whether they
offer the value to the consumer which can be the sole indicator of the market success.
The model of branchless banking is being followed mainly by the coalition of banks and
telecom operators to people who have no access to the banking sector or have no regular
interaction with banks in a formal capacity. The use of branchless banking can offer the
consumers the choice of transferring funds, pay utility bills, and manage their bank
accounts as needed or whatever the service allows them. Through gathering the market
data, it was seen that the fund transfer was a major function that the branchless banking
services were used for and majorly security was the main concern of the consumers due
to heavy traffic on the service provider. Although it has created a channel for fund
transfer and allowed the consumers to avail these services without following the regular
bank related path. The benefit to the economy is also another aspect that this service
provides. The results of the research were mainly concluded as certain factors that affect
the service level of these operators. The research project report describes each area of the
carried out project in great detail.
