KARACHI: The State Bank of Pakistan (SBP) has granted pilot operations approval to the country’s new digital bank, HugoBank.
This development is being regarded as a significant milestone in HugoBank’s journey toward providing secure, innovative, convenient, and inclusive digital banking services.
Under this pilot approval, HugoBank will be able to test its products, banking systems, and operational readiness with a limited number of customers in a real-world environment.
The purpose of this phase is to ensure that security measures, regulatory compliance, and customer experience meet the highest standards before the bank’s full public launch.
Speaking on the occasion, HugoBank Chief Executive Officer Asim Hassan said:
“We believe that true financial freedom begins with simplicity and convenience. Our goal is to serve as a trusted partner for our customers in achieving financial freedom and prosperity by combining the strength of a world-class financial institution with the speed and innovation of modern technology. We are pleased to demonstrate our commitment to expanding access to secure digital financial services for customers across the country, anytime and anywhere.”
According to HugoBank, during this controlled pilot phase, customer feedback and operational experience will be used to further refine and improve its products and services.
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The bank also reaffirmed its commitment to supporting financial freedom and financial well-being by providing a modern banking platform that meets the needs of Pakistan’s rapidly growing digital economy.
