ISLAMABAD, SEP 26 (DNA) : Ericsson (NASDAQ: ERIC), in partnership with Telenor Microfinance Bank (TMB), has successfully completed a major tech stack upgrade of the Ericsson Mobile Financial Services platform at TMB, upgrading it to the latest cloud-native version.
The upgraded platform will now run on a state-of-the-art solution built on an open architecture with a wide range of Application Programming Interfaces (APIs) and enhanced functionalities.
This strategic upgrade enables easypaisa to offer faster, more secure, personalized, and user-friendly financial services, further solidifying its position in digital banking and financial inclusion in Pakistan. The upgraded platform enhances easypaisa’s ability to innovate and deliver a broader spectrum of digital financial services, accelerating its mission to drive financial inclusion and economic empowerment nationwide.
With this successful upgrade, easypaisa is now equipped to scale its operational services, introduce new revenue streams, and drive fintech innovations that support Pakistan’s growing digital economy, aligning with the bank’s ongoing Digital Retail Bank (DRB) transformation (subject to SBP’s approval).
Mohammad Hasan Ayaz, Chief Technology Officer, Telenor Microfinance Bank/easypaisa , says: “This upgrade and renewed commitment mark a significant milestone for easypaisa’s technology stack, serving as a key enabler in providing secure and reliable financial services across the country. With the introduction of cloud-native technologies through Ericsson’s Mobile Financial Services platform, easypaisa will be able to scale all lines of business in the coming years and play a pivotal role in shaping the future of Pakistan’s digital banking landscape, while staying true to our mission of financial inclusion for millions.”
Michael Wallis-Brown, Head of Mobile Financial Services at Ericsson, says: “Ericsson’s Mobile Financial Services platform has been at the forefront of mobile money and digital wallets for over a decade. The successful deployment of our latest cloud-native Mobile Financial Services platform will support easypaisa in scaling their operations and in providing a seamless and efficient mobile financial experience in Pakistan’s rapidly evolving fintech landscape. Our achievement with easypaisa is a testament to the strength of our partnership and our shared vision for advancing financial inclusion and empowering individuals and businesses to thrive in a digital economy and benefit from digital banking features.”
This latest upgrade of the easypaisa platform marks a significant milestone in the long-standing partnership between Ericsson and TMB. Telenor Microfinance Bank is leading the fintech revolution in Pakistan, harnessing the power of collaboration and technology to empower millions of Pakistanis with access to financial services. As a driving force behind a digitally inclusive economy, Ericsson and TMB are committed to transforming lives, creating transparency, and contributing to the vision of a truly Digital Pakistan.
-ends-
NOTES TO EDITORS:
FOLLOW US:
https://www.linkedin.com/company/telenormicrofinancebanklimited/
Press Contact
Yamna Khan; Executive Corporate Communications Manager, Telenor Microfinance Bank
Email: [email protected]
About easypaisa / Telenor Microfinance Bank Limited
easypaisa, powered by Telenor Microfinance Bank is at the forefront of revolutionizing fintech in Pakistan by delivering innovative, cutting-edge technology solutions. We began our journey in 2005 by establishing a national footprint, with the launch of micro-lending programs. In 2009 we created history by launching the country’s first mobile banking service that has evolved to become the most used digital payments platform.
Backed by the largest fintech in the world, Ant Group (an affiliate company of Alibaba Group), and the leading multinational organization across Scandinavia and Asia, Telenor Group, we aim to promote financial inclusion by empowering all Pakistanis to adapt convenient and secure digital financial solutions.
OUR VISION | Creating a transparent economy that all Pakistanis can participate in |
OUR MISSION | Transform Pakistan into a cashless and financially inclusive society by creating value through the power of collaboration and technology |
FOLLOW US:
Subscribe to Ericsson press releases here
Subscribe to Ericsson blog posts here
https://twitter.com/ericsson
 : Ericsson (NASDAQ: ERIC), in partnership with Telenor Microfinance Bank (TMB), has successfully completed a majo){kind=link}