The strategic alliance between FINCA and AutoSoft for AutoMWALLET will offer benefits to the banked as well as to the unbanked communities. AutoMWALLET will help FINCA in expanding the bank’s network, by allowing access of financial services to people in rural as well as urban areas. It will also allow the bank to truly execute on The State Bank of Pakistan’s vision of financial inclusion.
AutoSoft has developed a solution which allows its customers to offer banking grade services to their clientele on the branchless banking platform in a cost-effective manner through the use of a range of comprehensive banking plug-ins. AutoMWALLET is backed by the SAP mobility platform, an, operator-grade Payment Processing and Service Delivery Platform. It offers support for mobile channels including SMS, USSD, mobile browser, mobile app, and works on any mobile device, on any network, with multi-lingual and multicurrency support. With the AutoMWALLET Ecosystem, the solution becomes powerful facilitating provision of micro-loans, saving deposits, remittances, and other banking services all while complying with The State Bank of Pakistan’s regulations.
Speaking at the signing ceremony Mr. Mudassar Aqil, CEO of FINCA Microfinance commented, “We evaluated different solutions and vendors and believe that AutoSoft and their AutoMWALLET solution are a good fit for our requirements. We need a flexible product and an agile team who can quickly respond to our needs allowing us to ramp up our growth to become a leading player in the branchless space. We are excited to jointly make this a successful case study.”
Mr. Javed Mushtaq, CEO of AutoSoft commented, “This is another step towards financial inclusion and we look forward to working as a unified team to meet the aggressive timelines required by the bank.”