TAP and Dana sign deal to offer embedded financial services

Trust Axiata Pay (TAP), one of the emerging mobile financial service providers, and Dana Fintech, an embedded finance and credit scoring platform, have announced a partnership to offer loyalty programmes, BNPL and digital lending to underserved consumers and SMEs.

Under this partnership, both companies will also enable partner banks and MFIs to extend Salary Advance, SME digital lending, and buy now, pay later (BNPL) facility to TAP users by leveraging TAP's ecosystem and Dana's embedded lending technology, said a press release.

Dewan Nazmul Hasan, acting chief executive officer of TAP, and Gazi Yar Mohammed, co-founder and CEO of Dana Fintech, signed the agreement in the signing ceremony held at the head office of Trust Axiata Pay (TAP).

Dewan Nazmul Hasan said, the partnership will be a breakthrough in improving the credit worthiness of individuals and SMEs since the combination of Dana's embedded scoring and lending platform and TAP's high-productivity MFS infrastructure will enable partner lenders to extend digital lending to TAP users and agents.

Dana Co-Founder and CEO Gazi Yar Mohammed said, "By partnering with TAP, we are expanding our lending operating system to offer seamless financial wellness platform to TAP users and API driven business acquisition and lending platform to our partner banks and MFIs.

Co-founder and COO of Dana Fintech Zia Hassan Siddique and Shah Jalal Uddin, head of Sales and Distribution, Ashikur Rahman Habibe Rabbi, head of Corporate Affairs and Media Relations and K M Shahidul Islam were also present at the signing ceremony.