MCB Bank Limited, one of Pakistan’s largest banks and K-Electric have entered into an agreement for e-Bill Payment Services in MCB Branches. The signing ceremony was held at the KE House.
K-Electric has adopted UBCS (Utility Bills Collection System) Solution offered by MCB’s Transaction Banking Division for all Karachi branches. This will enable the Company to receive details of bills paid in MCB Bank branches in an efficient and cost effective manner, along with timely consolidation of funds. As a result, K-Electric will be able to eliminate manual processing and delayed funds reconciliation, streamline internal systems and improve the overall service experience to the end consumer.
The implementation of UBCS will benefit the customers of both K-Electric and MCB Bank. The system will help K-Electric in reducing consumer complaints, improving turn-around time and initiating vast improvements across the distribution chain.
In his remarks, Mr. Nayyer Hussain, Chief Executive Officer, K-Electric reiterated that this initiative is a part of the Company’s technology road map implementation that aims to make the entire system cost effective and customer-centric.
Mr. Imran Maqbool, President of MCB Bank stated: “Our Cash Management products are always in the forefront with innovative solutions. I am confident that MCB will prove to be an important strategic partner to K-Electric’s technology and automation drive. We value the relationship that we currently have with K-Electric, and look forward to developing it further”.
SOURCE: PRESS RELEASE