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MMBL Partners with VRG to Equip Non-Smartphone Customers

MMBL Partners with VRG to Equip Non-Smartphone Customers

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed an agreement with Virtual Remittance Gateway (VRG), a veteran mobile financial services platform for banking customers, and Pakistan’s only commercial licensed Third-Party Service Provider (TPSP). Under this partnership, MMBL’s non-smartphone users will be able to use their bank accounts via Unstructured Supplementary Service Data (USSD) Channels. USSD is a widely accepted channel by customers for buying mobile bundles and checking prepaid balance amounts. MMBL Partners with VRG to Equip Non-Smartphone Customers.

MMBL Partners with VRG TO Equip Non-Smartphone Customers with Self-Service Banking via the USSD Channel.

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VRG, through its technical expertise, has embarked on enabling MMBL’s USSD channels, allowing MMBLs customers to use banking services 24/7 on their phones, that do not have 3G, 4G, WiFi, or Internet connections. With the help of USSD Channels, MMBL’s non-smartphone users will be able to check their bank balance, bank statement, transfer funds, pay utility bills, and recharge their mobile phone accounts without data or internet connection. The initiative will initially be piloted for a month’s period, followed by a commercial launch in January 2022.

Sharing his thoughts about the partnership, Ghazanfar Azzam, President & CEO MMBL said, “We are committed to expanding our financial services to a wider pool of customers by targeting the underserved segments of the society. Over the years, MMBL has successfully been able to reach millions of customers across Pakistan through its wide array of innovative products and services specifically tailored to promote financial inclusion for all. With VRG’s partnership, MMBL plans to revolutionize Pakistan’s banking sector by bridging the financial gap and eradicating all barriers to access digital financial services.” MMBL Partners with VRG to Equip Non-Smartphone Customers.

Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr said, “MMBL is dedicated to uplift the unbanked and underserved segments, particularly SMEs and women-led businesses, by providing them access to financial services through its expansive digital financial ecosystem. Through this partnership, we strive to accelerate further growth by merging USSD Channels with our tailored products and services that will not only enable individuals at a wider scale but will give them a chance to contribute positively to Pakistan’s digital financial ecosystem as well.”

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Speaking at the occasion, Muhammad Salman Ali, CEO VRG said, “Customer centricity is at the heart of banking and this collaboration is a significant step towards digital banking making its impact bigger on customer experience across business segments. Providing Unified USSD service to access banking will not only enhance the customer experience but also augment MMBL’s digital footprint to reach customers who were previously out of the digital banking net.” Mobilink Microfinance Bank is committed to leading digital banking initiatives across the country. The bank is promoting financial inclusion by providing innovative, convenient, and accessible digital financial solutions to the masses.

About MMBL

Mobilink Microfinance Bank Limited (MMBL) is Pakistan’s largest digital bank with over 34 million registered users including 14 million monthly active digital wallets. MMBL is a leading player in lending to small and medium-sized enterprises with over 800,000 traditional individual and micro-enterprise loans disbursed, alongside more than 11,000,00 digital nano loans disbursed till August 2021. MMBL is currently operating through 100 branches and a nationwide network of over 135,000 branchless banking agents. MMBL Registers Record Growth in M-Wallets.

MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.

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