LAHORE: NRSP Bank Headquarters Bahawalpur and MYTM Pvt Ltd joined hands to enhance financial inclusion and to work on digital awareness to empower the 83% underbanked and unbanked adult population of Pakistan.
The agreement was signed by Zahoor Hussain Khan, Chief Executive Officer/President NRSP Microfinance Bank, and Dr. Zain Farooq, Chief Executive Officer MYTM Pvt Ltd.
In this project, NRSP will provide financial services to enhance and expand its horizon in the digital world through a newly emerging platform “MYTM”. At the same time, both institutions will collaborate on creating financial inclusion and digital awareness to empower the 83% underbanked and unbanked adult population of Pakistan.
In this Ceremony, other officials included Asad Mushtaq-EVP/Head Information Technology, Qasim Naseer-SVP/Senior Manager Business Technology, and Kashif Jamal-SVP/ Sr. manager Branchless banking from NRSP Microfinance Bank Ltd. and Jawad Mahmood-Chief Operating Officer, Usman Khan-Chief Technology Officer, Syed Riaz-Head of Partnerships, Product & Strategy, Syed Atif Abbas-Head of Branchless Banking, Sarwar Awan-Operation & Partnerships lead, Asad Ejaz-Customer Experience Lead and M. Moaz Mirza-Financial analyst from MYTM Pvt Ltd.
NRSP Microfinance Bank Ltd. is one of the leading microfinance banks in Pakistan with a strong social mission to provide financial services to poor and marginalized clients including SMEs and retailers. The Bank also offers quality banking services to its valued clients including Government and private institutions.
MyTM empowers retailers and merchants by providing them a one-stop solution to cater to the financial needs of the banked, unbanked, and under-banked simultaneously. The customer does not need a smartphone or a prepaid digital account to pay their bills, buy intercity tickets or apply and repay for loans at MyTM-enabled outlets. MyTM has introduced a hybrid model in this space. Cash-based and cashless transactions can be carried out simultaneously. MyTM aims to build a network of trust through their MyTM Dukaan enabled retailers. MyTM’s target is to enable 100,000 retailers by 2030.