TPS and DigInc bid to digitise Pakistan microfinance sector

Source: TPS

TPS and DigInc formed a strategic collaboration to support financial inclusion by jointly delivering state of the art technology solution for the Microfinance Sector in Pakistan through Pakistan Microfinance Network (PMN).

The agreement was signed by Wazahat Ali, Co-Founder & MD – DigInc, and Ahson Saeed, Global Head Business Development – TPS, in the presence of Shahzad Shahid, CEO – TPS, and other senior officials from both the organizations.

Under the ambit of this collaboration, both TPS & DigInc will work together to digitize Pakistan’s microfinance industry by powering PMN’s Digital Services Platform (DSP). The solution will not only provide state of the art technology for the MFIs/MFBs for system based management of their customers but will also create interoperable loan disbursements and repayments.

This DSP will enable and empower Microfinance Providers (MFPs) to reap the benefits of Digital Financial Service Providers with the twin objectives of increasing accessibility for clients and bringing efficiency through available distribution channels of branchless banking.

Speaking about the collaboration, Ahson Saeed, Global Head Business Development – TPS commented, “This collaboration builds on the role that TPS has played in establishing interoperability between financial institutions and banks in Pakistan. TPS and DigInc will work together to enable PMN to digitize financial services in the microfinance sector through new age payment solutions. The project will not just transform lives of millions of customers but will also help the microfinance sector achieve its goal of reaching out to 10m borrowers, 50m deposit accounts and 11m insurance clients by 2020.”

After the ceremony, Wazahat Ali, Co-Founder & MD – DigInc said, “Our vision is to further the cause of financial inclusion in the country by providing enabling technology and services. We are confident that this collaboration will go a long way in supporting the Microfinance Sector in their growth and access to every corner of our country. The cutting-edge solution of TPS and the Digital Service Platform of DigInc will enable the customers of opting MFIs/MFBs to benefit from the digital financial services in the ecosystem, bringing them at par with any other banking customers/businesses”.  

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