Sajida Foundation, Dana team up to develop collaborative credit scoring and extend digital lending to underserved

Sajida Foundation and Dana Fintech announced a partnership to offer digital lending and collaborative credit scoring to retail and small and medium-sized enterprises (SME) customers.

Sajida Foundation is one of the leading microfinance institutions of the county, and Dana Fintech is an embedded lending and credit scoring platform.

Sarder Akhter Hamed, Chief Operating Officer of Sajida Foundation and Gazi Yar Mohammed, Co-founder and CEO of Dana Fintech signed the Memorandum of Understanding (MOU) on behalf of their respective organisations. 

The high officials of both the organisations were also present in the ceremony.

The partnership is set to facilitate end to end digital lending services and credit scoring for micro and small enterprises, and retail and underserved customers.

Under this partnership, Sajida Foundation will extend digital lending facilities to underserved SMEs and individuals leveraging Dana's embedded lending technology covering digital underwriting, BNPL and earned wage engine. 

They will also finance Dana network partners like digital marketplaces and digital wallet users. 

Dana will also assist Sajida to develop collaborative digital equity for the members of Sajida Foundation.

Sajida has 314 branches and around 5,00,000 members across the country having Tk1,800 crore loan portfolio. 

Dana enables brands, digital wallet and marketplaces to embed lending services in their apps via APIs and SDK to serve customers. 

Dana is currently working with four lenders comprising banks and NBFI and eight digital platforms including ecommerce and digital wallets.