Mobilink Microfinance Bank Limited (MMBL) has joined forces with global banking solutions provider TPS in a strategic partnership aimed at enhancing the bank’s digital capabilities and furthering financial inclusion efforts. This collaboration signifies MMBL’s commitment to modernizing its digital payment infrastructure and reaching the unbanked and underbanked population.
MMBL, a subsidiary of VEON, a multinational digital operator, signed the agreement with TPS at its Islamabad headquarters. The presence of Ghazanfar Azzam, President and CEO of MMBL, and Shahzad Shahid, Group CEO of TPS, underscores the importance of this partnership.
The collaboration focuses on providing MMBL with a comprehensive suite of digital banking solutions. This will empower MMBL to cater to the evolving needs of both individual and institutional customers through services like real-time money transfers, secure logins, contactless payments, bulk disbursements, and ATM/branch locators.
Under the agreement, TPS will equip MMBL with a state-of-the-art digital banking suite that integrates multiple channels onto a single platform. This open API gateway will serve as a central hub for various banking and payment platforms,facilitating a seamless customer experience through high-speed transaction processing.
“Digital technology is revolutionizing user experience by offering greater ease and convenience,” said Ghazanfar Azzam,President and CEO of MMBL. “Recognizing the critical role of technology in driving progress, MMBL is committed to staying at the forefront of this transformation to deliver exceptional value to our customers.”
“This partnership with TPS underscores our dedication to integrating best-in-class solutions and enhancing our customers’ banking experience,” Azzam added. “Furthermore, it strengthens our efforts to promote financial inclusion across the country.”
Shahzad Shahid, Group CEO of TPS, acknowledged MMBL’s innovative approach. “MMBL stands out as one of the few microfinance banks leveraging both traditional and digital channels to achieve sustainable growth,” he said.
“We are honored to be MMBL’s technology partner in their successful digital payment initiatives,” Shahid continued.”This IRIS Digital Banking Platform project will undoubtedly accelerate the bank’s progress towards greater agility and digital responsiveness.”
MMBL is recognized as a leader in financial inclusion and digital banking within Pakistan. Banking the unbanked,particularly women, is a core strategic focus, empowering numerous women-owned and led businesses nationwide. The bank remains committed to transforming the mobile banking landscape by fostering an inclusive environment that provides all customers with fast, secure, and reliable services.