A Memorandum of Understanding (MoU) was signed by MateSol, a blockchain-based invoice verification platform with a global footprint, and Mobilink Microfinance Bank Ltd. (MMBL), Pakistan’s top microfinance institution, to provide better access to invoice financing for Micro, Small, and Medium-sized Enterprises (SMEs).
According to the cooperation agreement, MMBL will finance invoices using MateSol’s cutting-edge blockchain-based invoice management system, “InvoiceMate,” giving MSMEs quick, easy, secure, and transparent invoice financing options.
MateSol offers solutions for several industrial sectors, with a focus on Web 3.0 and Enterprise Blockchain. The flagship product of MateSol is InvoiceMate, the world’s first-ever blockchain-based invoicing management system.
Under the terms of the cooperation, MMBL’s MSME clients will benefit from improved operational effectiveness and less red tape, which will lead to a more streamlined and flexible financing procedure.
The Bank’s embrace of cutting-edge financing solutions, which will help MSMEs survive in a fast-changing business environment, reflects its dedication to innovation and customer-centricity.
Chief Operational Officer (COO) of MMBL Sardar Mohammad Abubakr spoke at the event and said, “Our collaboration with MateSol is set to revolutionize the financial landscape for MSMEs through digitized processes. We understand the challenges faced by these enterprises in obtaining financing, especially in today’s uncertain economic climate.”
“By leveraging our combined expertise, we aim to facilitate the growth and success of these businesses and ultimately contribute to the development of the wider economy through digital financial inclusion.”
Matesol CEO Muhammad Salman Anjum also expressed his thoughts saying, “We are excited to announce Pakistan’s first invoice financing marketplace to improve cash flows for MSMEs and drive financial inclusion.”
“Aided by blockchain and AI, we provide smart invoice financing that is quick, secure, and viable for customers and banks, and with our collaboration with MMBL, this will be taken a step ahead.”
As a pioneer in the field, MMBL is dedicated to closing the financial inclusion gap and giving companies of all sizes access to the funding they need to succeed. The bank’s specialized lending options are made to meet the changing banking requirements of each firm, enabling MSMEs to meet their financial goals and promote industry growth.
MMBL is still committed to working in tandem with like-minded groups to provide cutting-edge solutions that promote financial inclusion throughout the nation and assist the growth of MSMEs.