Wednesday, July 17, 2024
HomeBusinessNeem and JS bank collaborated to bring financial wellness to underbanked communities

Neem and JS bank collaborated to bring financial wellness to underbanked communities

Neem, an embedded financial platform, has partnered with JS Bank in a strategic partnership to bring financial well-being to underbanked communities in Pakistan by leveraging JS Bank’s Open Banking platform.

This partnership will help millions of underbanked Pakistani customers and micro-enterprises. Neem’s embedded finance community partners will now be able to integrate wallets and payment services into their platforms to bring personalized financial services to their end clients.

This strategic cooperation makes performance possible thanks to the use of JS Bank’s infrastructure and banking channels.

“We are very pleased to join forces with JS Bank to create a unique market offering that leverages the core strengths of both our organizations. This partnership will enable us to significantly reduce time to market for our financial products while providing underbanked customers with the trust and credibility of a Tier 1 bank,” said Nadeem Shaikh, Co-Founder of Neem.

This collaboration marks an important milestone for Pakistan’s wider fintech ecosystem as it represents a strategic collaboration between an established financial services powerhouse and a disruptive fintech player to bring meaningful financial products to underserved people and businesses.

It also advances many of the core objectives of the SBP such as financial inclusion for the masses, economic digitization, and closing the gender gap in access to banking.

Speaking on the occasion, Waqas Anis, Chief Digital Officer at JS Bank said, “We at JS are delighted to enable the creation of a truly collaborative digital ecosystem in Pakistan. This partnership will enable us to gain depth and reach the underserved segments of the economy while enabling Neema with banking lanes and support to realize innovative use cases. We are thrilled at the opportunity to be the pioneer bank in Pakistan offering a complete Banking as a Service (BaaS) suite.

What is Neem?

Neem is an embedded financial platform enabling financial well-being for underbanked communities. Neem seamlessly integrates financial products and services into communities across multiple industries, including agriculture, SMEs, e-commerce, fintech, logistics, healthcare, and more. Neem’s core business model includes banking as a service (BaaS) platform and a lending platform. Neem platforms are designed to scale quickly through trusted community partnerships and open API infrastructure. Neem was founded by serial fintech entrepreneurs, technologists, and operators together with a global diverse team. The company was founded in Pakistan and is building for emerging markets.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments