Tuesday 07, March 2017 by William Mullally

Pakistan's Mobilink Microfinance Bank chooses iMAL solution for Loan Originating System (LOS)

The iMAL solution will help MMBL extend its microfinance lending products in unbanked areas of Pakistan and adapt to changing customer needs for digital financial services, according to a media statement.

Mobilink Microfinance Bank (MMBL), the 10th licenced microfinance bank in Pakistan, has chosen Path Solutions’ iMAL for its financial inclusion solution project for Loan Originating System (LOS). The iMAL solution will help MMBL extend its microfinance lending products in unbanked areas of Pakistan and adapt to changing customer needs for digital financial services, according to a media statement.

"The comprehensive capabilities of the iMAL solution, which will be integrated with the bank’s existing core banking system T24 from Temenos, will enable MMBL to grow its lending portfolio, to capture complete information covering both approved and non-approved cases, and to generate variety of reports for management / regulators. The new solution will also enable MMBL to offer finely-tailored short-term credit products to its existing and potential customers," said the statement.

MMBL aims to reach out to the vast majority of people in Pakistan who remain financially excluded by leveraging latest technologies. The bank owns 51 business units at present and supports around 100,000 micro entrepreneurs and small farmers in improving their incomes. It conducts over 3 million transactions a month (covering both Branch and Branchless Banking) through a network of around 71,000 agents. MMBL also serves over 8 million mobile wallet holders and provides life and health insurance products to low-income customers.

Mohammed Kateeb, Group Chairman & CEO, Path Solutions commented, “Microfinance banks need a robust platform that will enable them to offer branchless banking to support their financial inclusion strategy and the fight against poverty. As part of this mission, the efficiency of operations and cost reduction for low-income customers requires the implementation of an adaptive solution. We are delighted to partner with MMBL to propel its growth in Pakistan. We are confident that iMAL is the solution that will enable them to achieve their objectives”.

“MMBL has been one of the early adopters of financial inclusion in Pakistan, and we are committed to ensure inclusive growth and sustainable development of our country”, commented Ghazanfar Siddique, Group Head IT & Operations at MMBL. “We have evaluated different local and international system vendors and selected iMAL solution which was meeting our requirements. This strategic decision was necessitated in order to enhance MMBL’s market position, strengthen its delivery channels and partner with a vendor capable of adequately supporting our operations. iMAL perfectly fits into the strategic requirements of MMBL, and Path has a very suitable framework for providing direct and adequate local support to our 51 branches throughout Pakistan”, he said.

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