MCB Bank and Nokia sign Cooperation Agreement to extend Mobile Financial Services to millions of people

Banking and Finance

Karachi: MCB Bank Limited and Nokia Finland signed cooperation agreement for development and extension of financial services to millions of mobile phone users.

M U A Usmani, President MCB Bank said “MCB and Nokia have forged a complex cross industry partnership which will see both development and extension of next generation of low cost banking products and services targeted at millions of mobile phone users in Pakistan. This is first time that a leading financial institution has partnered with a global leader in handset manufacturing to offer innovative and transformative payment solutions and services.”

Teppo Paavola, GM Mobile Financial Services at Nokia said, “Being most trusted brand in Pakistan, Nokia is well positioned to connect both unbanked and banked world with its mobile devices and solutions. Nokia is committed to financial inclusion in emerging markets. Pakistan, in our view, has one of fastest evolving mobile money ecosystem in the world. MCB is most significant player in this ecosystem. With our experience, expertise, reliable and right banking partner like MCB, we are very confident Nokia will make life easier and better for millions in Pakistan with Nokia Money service. And this is what we do best – Connecting People to what matters to them.”

Ali Mubashir Kazmi SEVP & Group Head Consumer Banking at MCB Bank said “We are proud of fact that MCB was not only first bank in Pakistan to launch mobile financial service for its customers, but one that truly empowered them with financial mobility.”

MCB has proven track record of taking mobile financial services to market, has developed understanding of customer financial needs. Nokia will enable MCB-mobile money customers to not only have compelling user experiences on Nokia handsets right out of box through a preloaded money client, but also by making available downloadable Money clients for MCB branchless banking customers. Timelines for launch of Nokia Money with MCB will be announced later.

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