HugoHub, a Singapore-based financial infrastructure platform, has announced its inaugural deployment for a regulated bank with Pakistan’s HugoBank. The digital retail bank launched its first pilot customer account on HugoHub’s platform on 25 September 2026. This marks a significant step in addressing Pakistan’s financial access gap, where only slightly over a quarter of adults held a bank or mobile-money account in 2024, according to the World Bank.
HugoHub’s deployment in Pakistan is part of the country’s digital-bank framework, initiated in 2022, aimed at extending affordable financial services to underserved communities. The platform integrates core banking functions with Pakistan’s national digital identity system and Raast’s instant payments, reducing service costs and enhancing customer reach.
David Fergusson, CEO of HugoHub, stated, “We built HugoHub to give institutions a connected foundation they can operate and change. The purpose is to help them reach more people and serve them safely, with financial services that improve their lives.” Braham Djidjelli, Co-Founder and Chief Product Officer, added, “Pakistan is the world’s fifth most populous country, and now new banks have an opportunity to leapfrog legacy banking infrastructure.”
The pilot phase allows HugoBank to test products and processes under a Restricted Licence from the State Bank of Pakistan. The bank plans to introduce current and savings accounts, gamified money pots, and debit cards, with a view to expanding its offerings post-approval in early 2027. HugoHub’s initiative is poised to transform financial services in Pakistan, potentially setting a precedent for other markets.
