Mobile financial service provider “upay,” a subsidiary of United Commercial Bank PLC, recently signed an agreement with Zaytoon Business Solutions, aiming to transform digital financial accessibility, particularly in underserved rural areas across the nation.
Md Abdullah Al Mamoon, a member of the Board of Directors of UCB Fintech Company Ltd-upay, and Akber Hossain, Managing Director of Zaytoon Business Solutions, signed the agreement in Dhaka, according to a press release.
Mamoon said, “This partnership with Zaytoon Business Solutions will empower millions with the convenience of secure and efficient digital financial services.”
Mohammad Mamdudur Rashid, Managing Director and CEO of United Commercial Bank, and Md Arfan Ali, Chairman of Zaytoon Business Solutions, attended the signing ceremony.
The collaboration will leverage Zaytoon’s extensive network of village digital booths (VDBs) as authorised upay digital agents.
These VDBs will facilitate a wide range of financial transactions and services, including mobile banking, bill payments, remittance services, and digital lending, bringing essential financial solutions to the doorsteps of rural communities.
The initiative will initially launch in Rajshahi, Chapai Nawabganj, Munshiganj, Sirajganj, and Chittagong, with a comprehensive nationwide expansion planned.
Among others, Md Khademul Islam, Head of Business at Zaytoon Business Solutions; Zeeshan Kingshuk Huq, Chief Communications Officer of the bank; Md Mahbub Sobhan, Chief Business Officer of upay; and Sajjad Alam, Head of Corporate Sales, were also present.
