SimSim, Pakistan’s leading mobile account has entered into collaboration with EFU Life for providing Life Insurance cover to its customers. This platform is revolutionizing digital commerce growth in Pakistan and has been focusing on providing reliable cost effective services to its customers which are evident from its recent campaign focusing on free funds transfers. The signing ceremony was recently held in Lahore. The aim of this partnership is to provide customers relief from the complicated process of subscribing and claiming insurance. SimSim will offer a simple and intuitive subscription process using which customers can buy insurance in just a few clicks. It intends to build insurance in the customer journey through various new and innovative ways. Life insurance in Pakistan is often perceived as an extra expense and a tedious task to obtain, however this collaboration aims to change that mindset. Must Read: Pakistan China E-Commerce Venture, ezbuy Launches in Pakistan EFU Life, a leading Life Insurance Company has been a proponent of insurance services being offered over digital channels and is actively exploring different models to incorporate Insurtech in the customer life cycle. While sharing his views on the collaboration with SimSim, Mr. Mohammed Ali Ahmed, Chief Strategy Officer, EFU Life, stated, “We are delighted to join hands with SimSim. Our collaboration is a major step towards the goal of financial inclusion and exploring Insurtech in Pakistan. Through this technology driven platform, our mutual, potential customers will be able to avail insurance in an exceedingly stress-free manner. I’m confident that this partnership will serve to benefit all parties involved but the biggest winner here is most definitely the customer.” Commenting on this occasion, Mr. Tughral A. T. Ali the Head Branchless Banking at FINCA said, “We are proud to have EFU Life on board as our partner. Our aim is to provide our customers with a one-stop hassle-free insurance service. We are certain that this partnership will be mutually beneficial for both our customers. Our goal is to provide customers value in all of our products and addressing pain points which include simplifying complicated processes while remaining compliant to regulation. This collaboration is a key step towards achieving that goal.”
FINCA MICROFINANCE BANK PAKISTAN CELEBRATES 10 YEARS IN PAKISTAN
FINCA Microfinance Bank Ltd, one of the leading microfinance banks in Pakistan, celebrated its 10th anniversary in Pakistan. The celebrations kicked off with an exclusive and colourful event in Lahore. At the event, FINCA reaffirmed its resolution to become a leading force to bring financial inclusion to Pakistan. The event was attended by the FINCA BOD, management, staff, and its top management from the global FINCA network. An award ceremony celebrated and appreciated the hard work and dedication of the FINCA team during 2017 too. Rupert W. Scofield, Co-founder of FINCA and President FINCA International, congratulated FINCA Pakistan on completing 10 years of operations in the country. He shared a heart-warming anecdote of the period during which FINCA made the decision to enter the Pakistan market, and talked of his pride at the performance of the organization since then. MD of Kashf Foundation & Board Member of FINCA Pakistan, Roshaneh Zafar talked of her ever-lasting association with the FINCA brand in Pakistan. She cherished the relationship as an important underpinning of her work in the microfinance industry, from the organization’s founding as Kashf Microfinance Bank in 2008, its acquisition by FINCA in 2013 to its eventual completion of the 10th year of successful operations. She wished the organization continued success and reiterated her commitment to contribute to the organization’s future through her duties on the FINCA Pakistan’s Board of Directors. Must Read: Cheetay Introducing A New Business Category: Cheetay Healthcare Zar Wardak, VP & Regional Director MESA and Chair of FINCA Pakistan’s Board, thanked her fellow Board Members for overseeing with her the remarkable journey of FINCA Pakistan. She remarked that the progress of FINCA Pakistan in outreach, women empowerment, network expansion and introduction of its digital wallet SimSim. Speaking on achieving the 10 year milestone, Mr. Mudassar Aqil, CEO FINCA Microfinance Bank said, “This 10 year success is a testament of FINCA’s motivation to provide secure and impactful monetary services to empower the deserving small entrepreneurs of Pakistan. Since our inception, we have provided over $511 million in credit to 630,000 micro entrepreneurs, growing their businesses, creating new jobs and improving living standards. In the years to come, FINCA will continue to play a role in improving access to financial services for MSMEs, which is the engine of Pakistan’s economy.” He further added that it is FINCA’s mission to eliminate poverty by providing long term solutions that help people establish their assets, create employments, and improve their standard of living. The grand event, apart from celebrating a decade in Pakistan, was also aimed at commemorating the financial and social performance goals that FINCA surpassed in 2017. The event activities reaffirmed FINCA’s pride in being an early adopter of technology in Pakistan, and its initiatives enable it to leverage data to understand customer needs, enhance customer experience, and scale its rapidly growing digital financial services platform, SimSim M-Wallet. The event concluded with a sumptuous dinner and a beautiful musical performance by the Girls Band followed by upbeat music by Sahara UK.
FINCA OPENS NEW BRANCHES IN YAZMAN & KOT ADDU
FINCA microfinance bank limited, one of the fastest growing microfinance banks in the country launched its branch operations in two new cities in the country. The new branches in Yazman (Bahawalpur district), and Kot Addu (Muzaffargarh district), will improve access to financial solutions for micro entrepreneurs and unbanked communities in the area. The expansion comes as part of FINCA’s purpose to provide responsible and impactful financial services to enable micro, small entrepreneurs and low-income communities to invest in their futures. This addition brings the total number of branches in FINCA Pakistan’s network to 115, in over 104 cities, making progress on our mission to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. Must Read: DWP Group Recently Hosted A Golf Tournament At DHA Country And Golf Club-Karachi. Commenting on the occasion, Zar Wardak, VP & Regional Director Middle East and South Asia at FINCA Impact Finance & Chair of FINCA Pakistan’s Board of Directors said,“Pakistan has been one of our strongest markets and we’re always excited to increase our outreach in the country, to serve a greater number of communities. We at FINCA Impact Finance are fully committed to further strengthening the FINCA brand in Pakistan, and making it synonymous with an organization that earths unconventional yet highly impactful solutions to address the wide gap between the supply and demand of financial services in the country.” FINCA Pakistan’s COO, Shahid Hosain Kazi, remarked, “I am delighted that FINCA has reached 115 branches in Pakistan as it demonstrates our commitment to expand outreach in order to meet the needs of a wide consumer base that is still financially excluded. Through increased financial provision, more people will be able to borrow to scale up their small businesses, save for important household occasions, and conduct their everyday transactions with remarkable convenience.” The bank is also a strong proponent of technology driving nationwide financial inclusion through easy access to banking services such as FINCA’s digital mobile wallet “SimSim”. Through SimSim, any potential customer can open a wallet with FINCA microfinance bank in one minute and unlock a suite of transaction that he or she can do remotely from the comfort of their homes.
Loan Client of FINCA selected for the Bano-Qudsia Award for Creativity
Bushra Rasheed, owner of Qiynat Beauty Salon and a client of FINCA was selected for the ‘Bano-Qudsia Award for Creativity’ at the ‘Chiraghan-E-Nissa’ – Women Expo 2017. The Women Expo 2017 was organized to encourage female entrepreneurs in every walk of life. The event was organized by the Investment Climate Reform Unit (ICRU) in collaboration with the Punjab Board of Investment & Trade (PBIT). FINCA, one of the fastest growing microfinance banks in Pakistan is a supporter of women empowerment and has granted loans to numerous women who aim to establish their own businesses. FINCA Microfinance Bank Limited is part of the FINCA Impact Finance Network, a group of 21 microfinance and financial institutions that provides socially responsible financial services, and enables low-income entrepreneurs and small business owners to invest in the future. FINCA is one of the fastest growing microfinance networks in Pakistan, with 120 branches in more than 100 cities across Pakistan. It is the pioneer microfinance bank in Pakistan, and recently introduced the first complete digital mobile wallet – SimSim that can be opened and operated from one’s smartphone; anyone can open an account, sitting at home, in just one minute. SimSim empowers users by providing a payment solution which not only allows zero cost transactions, but also enables one to create one’s own payment ecosystem.