In a strategic partnership, Neem, an embedded finance platform, is joining hands with JS Bank to bring financial wellness to underbanked communities in Pakistan by leveraging JS Bank’s Open Banking platform.
This partnership will benefit millions of underbanked consumers as well as MSMEs in Pakistan. Neem’s embedded finance community partners will now be able to embed payment services into their platforms and offer customized financial services for their end customers.
The feat is made possible by utilizing JS Bank’s infrastructure and banking rails which Neem would leverage through this strategic partnership.
“We are very pleased to have partnered with JS Bank in creating a unique offering to the marketplace that leverages the core strengths of both our organizations. This partnership will enable us to drastically reduce the time to market for our financial products while providing the underbanked customers with the trust and credibility of a Tier 1 Bank,” commented Nadeem Shaikh, Co-founder at Neem.
Speaking at the occasion, Waqas Anis, Chief Digital Officer at JS Bank said “We at JS are pleased to be an enabler towards creating a truly collaborative digital eco-system in Pakistan. This partnership will allow us to gain depth and reach the underserved segments of the economy while enabling Neem with the banking rails and support to execute innovative use cases. We are ecstatic about the opportunity to be the pioneer bank in Pakistan to offer full spectrum Banking as a Service (BaaS) suite.”
This partnership is an important milestone for the wider fintech ecosystem in Pakistan, as it manifests a strategic collaboration between an established financial services powerhouse and a disruptive fintech player, jointly for the vision of bringing meaningful financial products to underserved people and businesses.
It also furthers many of the SBP’s core goals such as financial inclusion for the masses, digitization of the economy, and reducing the gender gap in access to finance.
About Neem:
Neem is an embedded finance platform enabling financial wellness for underbanked communities. Neem is seamlessly embedding financial products and services into communities across diverse sectors, including agriculture, MSMEs, e-commerce, fintech, logistics, healthcare, and others.
Neem’s core business model comprises a Banking as a Service Platform (BaaS) and a Lending Platform. Neem’s platforms are designed to scale rapidly through trusted community partnerships and open API infrastructure.
Neem was founded by serial fintech entrepreneurs, technologists, and operators together with a global diverse team. Founded in Pakistan and building for emerging markets.
About JS Bank:
JS Bank is one of the fastest-growing Banks in Pakistan, with a both domestic and international presence. The Bank is a leader in the digital banking, SME & consumer loans space.
JS Bank has been recognized on multiple international and national forums, including the prestigious AsiaMoney, Asian Banking and Finance, DIGI, and Pakistan Banking Awards.
The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.
Image Credit: Neem
