Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed a strategic partnership with Quwat, the fintech arm of Industrus – a tech service provider catering to the needs of millions of consumers across Pakistan, to offer a robust portfolio of digitally innovative financial products and solutions to individuals as well as Small and Medium Enterprises (SMEs).
Mobilink Microfinance Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives, creating opportunities for greater digital inclusion, and driving economic growth across countries that are home to more than 8% of the world’s population.
Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr, and Founder & CEO Industrus, Muhammad Saad Khan signed the partnership agreement at MMBL Headquarters with senior officials from both organizations. The partnership is focused on fueling the growth of MMBL’s 40 million customers, especially SMEs. Under this partnership, MMBL will be able to meet the growing banking needs of its individual as well as enterprise customers by improving their access to flexible financing alternatives, including B2B lending and account opening amongst other valuable services.
Leveraging Quwat’s strong retail financial network, MMBL will also extend end-to-end support for SMEs to expand their businesses. To be more responsive to the evolving needs of its growing customer base, MMBL through Quwat’s lite-branch concept will be able to bring more unbanked individuals under the financial fold.
Speaking on occasion, Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr shared, “Collaborating with Quwat, a project of Industrus- which shares our vision of financially empowering unserved individuals and small businesses through digitally inclusive technologies, is another milestone in our journey of empowerment. Besides traditional banking services, MMBL’s partnership with Quwat will enable the bank to make advancements in the digitization of B2B lending which will help small business customers to streamline their business operations. This partnership represents another key step for MMBL to further expand its support to the microfinance sector and create a better banking experience for all its clients.”
Also sharing his thoughts, founder & CEO Industrus Muhammad Saad Khan said, “Industrus takes inspiration from MMBL in its pursuit to continue improving customer experience. Quwat, Industrus fintech model strives to provide MMBL’s customers with simple and convenient access to financial services using ubiquitous digital solutions. By leveraging our expertise in digital technology, this partnership is committed to building a digitally inclusive society for unserved SMEs across Pakistan.”
MMBL is revolutionizing the digital banking ecosystem with its wide range of customized products and services, seamlessly integrated into its customer’s everyday life. Proceeding on the journey of inclusive economic growth and development, the bank through its strategic partners is focused on accelerating digital adoption by offering innovative financial solutions such as digital wallets and microfinancing to narrow the digital and economic divide in Pakistan.