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 customised financial services for their end customers. The feat is made possible by utilising 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 organisations. 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, digitisation of the economy, and reducing the gender gap in access to finance.