24 March 2014
Bestway Divisions unite to offer retailers a new growth opportunity
Bestway is offering customers the opportunity to develop their services to customers with the launch of a new money remittance product which provides a fast and secure money transfer solution to South Asia.
Omni from United Bank Limited, part of the Bestway group and Pakistan’s second largest bank, was launched in April 2010 and is now a globally recognised brand. The product has evolved to become the largest branchless banking network in Pakistan with over 12,000 agents processing hundreds of thousands of transactions daily. Omni’s success has propelled UBL to market leader in the US$14bn Pakistani remittance business with a market share of over 23%.
The launch in the UK will offer the UK’s growing Asian community a reliable payment transfer network which can be accessed in Pakistan and Bangladesh through 1,200 UBL branches and its many thousands of agents.
Mr Choudrey commented, “The launch of UBL Omni is part of Bestway Group’s at the Heart of the Community Strategy – which seeks to place our Group’s diverse businesses and charitable interests at the very centre of the local communities. It is a matter of great pride for us that UBL is the bank of choice for overseas Pakistanis, who on a daily basis remit funds to their friends and families from all over the world through the Bank’s innovative delivery channels. One of the core beliefs of this strategy is to provide affordable and accessible financial services with the aim of enhancing financial inclusion.
Mr Choudrey continues, “Bestway’s philosophy is Building Business for the Independents and as the wholesale partner to many retail businesses, we are committed to developing new ideas which will help these retailers build their business. Furthermore, in challenging trading times, we need to help retailers seek out new opportunities to diversify their business; money transfer is a fantastic way to bring new customers into store and achieve incremental sales. Omni is an extremely well respected brand in South Asia and our diverse interests mean that we are in a unique position to develop products that will help our customers develop.”
Mansoor Khan, chief executive officer of United Bank UK was extremely optimistic about the products success, “The Pakistani community send over US$2bn each year to Pakistan alone in money transfer. As the preferred bank of UK Pakistanis, UBL has taken the leadership in money transfer and is the only bank to offer such a service in the UK. We already have a network of almost twenty Omni agents and we want to extend this service nationally so are keen to recruit retailers who want to increase their footfall and overall business. ”
Mr Khan added, “The launch of Omni is the perfect addition to our portfolio of products which include personal and business banking, mortgages and bespoke Islamic products. Omni also offers a fantastic opportunity for the UK’s retail community, many of whom are from South Asia, to become agents. We value and admire their entrepreneurial flair and will be working with Bestway and their retail customers to ensure that we provide a network of agents covering all major towns and conurbations where the Asian community reside”.
UBL branches in the UK offer a full range of high street, business and Islamic banking and can be found in the following locations: Birmingham, Bradford, Glasgow, Ilford, London and Manchester.
For more information visit www.ubluk.com or download the brochure.