10 October 2024
Ericsson has completed a major tech stack upgrade for Pakistan’s Telenor Microfinance Bank (TMB), giving its mobile wallet easypaisa a cloud-native platform on which to scale up its services.
According to Ericsson, the upgraded mobile financial services platform is now built on an open architecture with a wide range of APIs and enhanced functionalities. This enables easypaisa to broaden its spectrum of digital financial services and offer faster, more secure, personalized, and user friendly financial services.
Mohammad Hasan Ayaz, CTO of TMB and easypaisa, said that the upgrade enables easypaisa to scale its operational services, introduce new revenue streams, and drive fintech innovations that support Pakistan’s growing digital economy
“With the introduction of cloud-native technologies through Ericsson’s Mobile Financial Services platform, easypaisa will be able to scale all lines of business in the coming years and play a pivotal role in shaping the future of Pakistan’s digital banking landscape, while staying true to our mission of financial inclusion for millions,” said Ayaz.
The platform upgrade aligns with TMB’s ongoing digital retail bank transformation, although this is still subject to approval from the State Bank of Pakistan.
