MMBL will provide end-to-end support for Small and Medium Enterprises SMEs looking to expand their businesses, leveraging Quwat’s strong retail financial network.
Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, has entered into a strategic partnership with Quwat, the fintech arm of Industrus, a tech service provider serving the needs of millions of consumers across Pakistan, to offer a robust portfolio of digitally innovative financial products and solutions for individuals as well as Small and Medium Enterprises (SMEs).
Mobilink Microfinance Bank is a subsidiary of the VEON Group, a global digital operator with operations in seven countries that offers converged connectivity and online services. VEON is transforming people’s lives, creating opportunities for greater digital inclusion, and driving economic growth in countries that account for more than 8% of the world’s population as part of its digital operator strategy.
Sardar Mohammad Abubakr, Chief Finance and Digital Officer of MMBL, and Muhammad Saad Khan, Founder and CEO of Industrus, signed the partnership agreement at MMBL Headquarters with senior officials from both organizations. The collaboration is aimed to accelerate the growth and solutions for MMBL’s 40 million customers, particularly SMEs.
MMBL will be able to meet the growing banking needs of its individual and enterprise customers through this partnership by improving their access to flexible financing alternatives such as B2B lending and account opening, among other valuable services.
MMBL will also provide end-to-end support for SMEs looking to expand their businesses, leveraging Quwat’s strong retail financial network. To be more responsive to the changing needs of its growing customer base, MMBL will be able to bring more unbanked individuals into the financial fold by utilising Quwat’s lite-branch concept.
“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. Aside from traditional banking services, MMBL’s partnership with Quwat will allow the bank to advance in the digitization of B2B lending, allowing small business customers to streamline their business operations. This collaboration is another important step for MMBL in expanding its support for the microfinance sector and improving the banking experience for all of its clients.” said Sardar Mohammad Abubakr, Chief Finance & Digital Officer MMBL.
“Industrus takes inspiration from MMBL in its pursuit to continue improving the customer experience,. The Quwat, Industrus fintech model aims to provide MMBL customers with simple and convenient access to financial services through the use of ubiquitous digital solutions. This partnership is committed to building a digitally inclusive society for unserved SMEs across Pakistan by leveraging our expertise in digital technology” said Muhammad Saad Khan, founder and CEO of Industrus.
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.