Telenor Microfinance Bank embarks upon delivering innovative banking solutions and streamlining digital ecosystem.

• Author: Kazmi, Shabbir

Byline: Shabbir Kazmi

Interview with Mr Aslam Hayat - Acting Chief Executive Officer, Telenor Microfinance Bank

Agriculture is the backbone of Pakistan's economy. Analysts have the consensus that production of major crops can be doubled without bringing additional area under cultivation. The major impediments identified are lack deployment of modern technologies, failure in balanced use of nutrients and huge post harvest losses. All these problems cannot be overcome without boosting lending to farmers for the purchase of inputs, deployment of technology and appropriate use of nutrients and water. For boosting lending to farmers outreach of financial institutions have to be increased. Telenor Microfinance Bank has embarked upon a program leveraging technology to deliver innovative banking solutions and streamlining on digital ecosystem. Following are the excerpts from an exclusive interview with Aslam Hayat, Acting Chief Executive Officer of Telenor Microfinance Bank.

PAGE: Can you please share your bank's future plans?

Aslam Hayat: Looking ahead, our focus will be on continued value creation. The bank's strategy, going forward, is based on driving and capturing growth and becoming even more efficient in how it operates, delivers services and how customers experience the relationship with the bank. As a leading microfinance bank of Pakistan, we are consistently working towards transforming the financial landscape of the country through the provision of instant access to convenient digital financial services.

Easypaisa has evolved over time to more than just a digital payments platform to a consumers' digital lifestyle partner. In the future the app will continue to offer users the ability to send and receive money, purchase mobile top ups and bundles, pay bills, avail discounts, and do much more.

We have integrated QR functionality to make payments quicker and easier. We will continue to build on our digital nano loans to provide small, short term loans to SME's who lack access to formal banking channels. Our international remittance service will continue to be a game changer for cross border remittances. The digital services platform will be integrated with Easypaisa for its agent network for disbursement and repayment transactions with the latter acting as an aggregator for 40 different microfinance institutions.

PAGE: Is it necessary for microfinance banks to embrace financial technology as a serious solution to meet the demand of their...