May 25, 2024

Mastercard partners with egabi FSI for digital lending solutions across EEMEA

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Gaurang Shah, Mastercard’s Executive Vice President, Product and Engineering, Eastern Europe, Middle East and Africa

Mastercard and IT banking solutions company, egabi FSI, have partnered to expand financial institutions’ and non-traditional partners’ access to new embedded finance and digital lending products across Eastern Europe, the Middle East, and Africa (EEMEA).

Embedded finance enables consumers access to financial services even if they are on non-financial platforms or tools.

Mastercard will activate egabi’s digital-lending capabilities and assets to provide an end-to-end lending proposition to financial institutions and fintech companies. This is further enhanced by offering Mastercard’s Digital First products to issuers willing to enter the digital lending space.

“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,” stated Gaurang Shah, Mastercard’s Executive Vice President, Product, and Engineering, Eastern Europe, Middle East, and Africa.

Ahmed Sameh, CEO of egabi FSI

“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,” stated Ahmed Sameh, CEO of egabi FSI.

Industry sources were quick to add that With Mastercard’s capabilities, organizations can obtain market readiness within weeks while benefiting from quick launch activations, engagement efforts, and flexibility as part of a less complex subscription-based approach that facilitates cost-efficient pricing. They also further added that Mastercard’s technology along with egabi’s digital lending platforms makes it easier for organizations to enter the digital lending space, serving both consumers looking for BNPL affordable payment plans and SMEs looking for microfinance solutions.

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