Thursday
August 3
2017

FINCA gears up for digital disbursement solutions in Pakistan

FINCA Microfinance Bank is gearing up to introduce digital disbursement solutions in rural and semi-rural areas in a bid to reduce cost of delivery and increase digital literacy.

The bank will use gadgets to get all necessarily details of the client via biometric verifications, thereby reducing the loan-processing time to within 48 hours. Apart from gadgets, the bank’s newly launched mobile wallet, SimSim appears to be the management’s hope to increase foothold in rural localities.

“I believe that the introduction of digital financial services in Pakistan can help us reach the untapped market, which is huge,” said FINCA Impact Finance Global President and CEO Andree Simon, while talking with a group of journalists. She further said that so far developments in Pakistan’s microfinance sector are positive and their bank operations here are expanding but financial inclusion remains an issue

Source: The Express Tribune (link opens in a new window)

Categories
Technology
Tags
digital wallet, financial inclusion, financial technology, fintech, mobile banking, mobile money, Pakistan