KARACHI: HugoBank has taken a key step towards launching its commercial operations by beginning the onboarding of approved internal pilot participants onto its digital banking platform.
The move follows the State Bank of Pakistan’s (SBP) approval for the bank to commence limited-scale pilot activities as a Digital Retail Bank under a restricted license, marking progress towards its planned entry into Pakistan’s digital banking sector.
The bank opened its first pilot customer account on September 25, 2026, marking the start of customer onboarding within its approved scope of activities.
During this limited pilot phase, HugoBank is evaluating all aspects of its operations, including account opening, transactions, customer support, and the overall performance of day-to-day banking activities.
By gathering feedback from participants and insights from actual operations, the bank aims to identify areas for improvement, enhance service efficiency, and strengthen its readiness for full-scale commercial operations.
According to HugoBank official, the goal is to make banking services more accessible and easier to use for people across Pakistan. Every new account provides an opportunity to assess how effectively our technology, processes, and teams work together.
“We will use the insights gained from these experiences to further improve our services and provide customers with secure, reliable, and high-quality banking facilities”, he said.
At present, only approved internal participants are being included in the pilot phase. The broader launch of commercial banking services for the general public will remain subject to the relevant regulatory approvals.
Copyright Business Recorder, 2026