KE signs Agreement with UBL for Bill Payment

Lahore: K-Electric (KE) has released a press statement regarding an agreement between KE and UBL. As per the agreement, UBL’s customers can pay their bill at any UBL Branch in Karachi through the advanced mechanism of UBCS (Utility Bills Collection System). The implementation of UBCS will benefit K-Electric and UBL customers as it will help in reducing consumer complaints and bring vast improvement as far as quick customer updates are concerned.

The Press statement added that it is an efficient and cost effective initiative which will help in eliminating manual and timely processing, delays in consumer payments update, delayed fund transfer and control invalid transactions. Along with this, it would also enable K-Electric for quick data and fund transfer, thus, saving precious time and charges associated to this delay. On an average 100,000 + transactions could be done electronically at any of the branches of UBL.

In their remarks, Syed Moonis Abdullah Alvi, Chief Financial Officer & Mr. Syed Muhammad Taha, Chief Distribution Officer for 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.

Ali Hasnain, Group Executive-Retail Bank, UBL stated that this mutually beneficial relationship will assist both parties to enhance their customer experience. He further added “I am confident that K-Electric will benefit from this customized bills collection solution as it will assist them in monitoring and reconciliation of transactions. We look forward to developing a mutually beneficial, long term banking relationship with K-Electric”.

The shifting of volumes from manual to online processing will benefit not only the consumers but K-Electric as well.