Published November 3, 2026 Updated about 2 hours ago By Recorder Report 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…