Mastercard and Egabi Partner to Expand Access to Digital Lending Solutions Across Eastern Europe, Middle East, Africa
Mastercard and Egabi FSI, an IT banking solutions company, have joined forces to give more banks and non-traditional partners in Eastern Europe, the Middle East, and Africa access to new embedded finance and digital lending products.
With embedded finance, people can use financial services even when they are on platforms or tools that aren’t related to finance.
Mastercard will turn on Egabi’s digital-lending capabilities and assets so that banks and fintech companies can get a complete lending solution. This is made even better by the fact that issuers who want to get into digital lending can use Mastercard’s Digital First products.
Mastercard’s technology and Egabi’s digital lending platforms make it easier for companies to get into the digital lending space. This helps both consumers who want affordable payment plans from BNPL and small and medium-sized businesses (SMEs) who want microfinance solutions.
“Our collaboration with egabi is another great example of Mastercard’s role as a trusted technology partner that enables customers to tap into the potential of digital lending products and expand access to more markets. Through our multi-rail capabilities, we can solve pain points for multiple customer segments, and enable partners to quickly go to market with the ability to effectively scale,” said Gaurang Shah, Mastercard’s Executive Vice President, Product and Engineering, Eastern Europe, Middle East and Africa.
With Mastercard’s services, businesses can be ready for the market in just a few weeks. They can also take advantage of quick launch activations, engagement efforts, and flexibility as part of a less complicated subscription-based model that makes pricing more cost-effective.
“We are pleased to partner with Mastercard to digitize the lending space and introduce new innovative products that serve growing segments such as BNPL, microfinance and SME. The partnership with Mastercard reflects the trust of global financial institutions in egabi FSI as a fintech technology enabler and the quality of egabi’s products. We believe that this partnership will open doors for wider market coverage and together with Mastercard will be able to redefine the digital lending industry in the region,” said Ahmed Sameh, CEO of egabi FSI.