Ericsson, in collaboration with Telenor Microfinance Bank (TMB), has successfully completed a major upgrade of the Ericsson Mobile Financial Services platform at TMB, bringing it to the latest cloud-native version. This state-of-the-art upgrade is designed to improve Easypaisa‘s digital financial services by enhancing speed, security, personalization, and user-friendliness, positioning it as a leader in digital banking and financial inclusion in Pakistan.
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Key Features of the Upgrade
The upgraded platform runs on an open architecture with a wide range of APIs and enhanced functionalities, allowing Easypaisa to:
- Scale its operational services.
- Introduce new revenue streams.
- Drive fintech innovations that support the country’s growing digital economy.
This upgrade aligns with Easypaisa’s ongoing Digital Retail Bank transformation, which is subject to State Bank of Pakistan (SBP) approval.
Driving Financial Inclusion and Empowerment
According to Mohammad Hasan Ayaz, CTO at Telenor Microfinance Bank, the upgrade represents a significant milestone in the bank’s technology stack, enabling Easypaisa to deliver secure, reliable financial services nationwide. “With the introduction of cloud-native technologies, Easypaisa will scale all lines of business and play a pivotal role in shaping the future of Pakistan’s digital banking landscape, while remaining committed to financial inclusion,” said Ayaz.
Ericsson’s Role in the Transformation
Michael Wallis-Brown, Head of Mobile Financial Services at Ericsson, highlighted the success of the deployment, emphasizing the shared vision of advancing financial inclusion and empowering individuals and businesses in Pakistan’s evolving fintech landscape. The cloud-native Mobile Financial Services platform will support Easypaisa in offering a seamless mobile financial experience, contributing to Pakistan’s digital economy growth.
A Strategic Partnership for Digital Banking
This significant upgrade strengthens the long-standing partnership between Ericsson and TMB, showcasing both companies’ commitment to delivering cutting-edge digital financial solutions and driving economic empowerment in Pakistan.
