wagely partners with MTB to provide digital financial services to workers
Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
wagely, a pioneering fintech company dedicated to enhancing financial well-being, has joined forces with Mutual Trust Bank PLC (MTB) to usher in a new era of cutting-edge financial services in Bangladesh.
This partnership aims to redefine the landscape of financial wellness and digital payments by leveraging the power of Open Banking API, catering to the diverse needs of salaried workers, according to a media release.
The collaboration between wagely and MTB is a significant milestone as it will connect the company’s HR data with MTB’s Open Banking platform seamlessly to serve almost 30 million underbanked and unbanked salaried workers with access to financial services.
The integration will allow workers to get access to a range of financial services, including on-demand salary, digital payments, credits, savings, and instant transfers using the Open Banking API, all from a single platform, the release says.
The Managing Director and CEO of MTB, Syed Mahbubur Rahman stated, "MTB firmly believes in providing the power of digital to the masses, not only to the specific group. In line with that belief, MTB has collaborated with wagely which will offer instant salary disbursements mainly to the RMG workers using MTB’s proprietary Open Banking API to different channels including Bank and MFS. This is MTB going one step ahead in democratising technologies which has been a core essence of MTB’s values”
“The collaborative efforts of wagely and MTB will not only give access to finances and literacy to a large segment of the workforce but will also be an integral part of the Smart Bangladesh Vision” stated Noor Elahi, Managing Director of Wagely Bangladesh. “We are very excited to partner with MTB, being a pioneer in digital and tech banking infrastructure”.
By combining Wagely's fintech experience in Southeast Asia and MTB's tech capability, the partnership aims to set new benchmarks in the digital financial landscape of Bangladesh, the release adds.