On June 9th, 2021, Teamup and Pakistan Fintech Network (PFN) signed a Memorandum of Understanding. Key personnel from both organisations were present during the ceremony. The MoU was signed by Nadeem Hussain, Chairman of PFN, and Zouhair Khaliq, co-founder of Teamup, to open doors for collaboration between the two parties. Both sides expect to benefit from each other’s network of key partners and subject matter experts in order to increase ecosystem innovation.
Both organisations want to use their institutional expertise in terms of technology, knowledge, networking, and management to help Pakistan’s innovation and entrepreneurship ecosystem grow.
Fintech is one of the world’s fastest growing industries. A new wave of Fintech is sweeping the globe, driven by technological advancements, a growing population of tech-savvy customers with an expanding thirst for digital financial services, and incumbents’ readiness to integrate technology and partner with upstart competitors. The Asia-Pacific region is the fastest-growing market for Fintech, and Pakistan, which has seen a rise in investment, is emerging as a key player in this sector.
Collaborations like these can help the sector grow faster by creating a welcoming atmosphere for newcomers and disruptors.
“The Pakistani Fintech Space is booming; there has been a spike in investments, which is pushing innovators to disrupt the space. Collaboration and synergies like these can help establish a climate favourable to the sector’s growth,” says Zouhair Khaliq, co-founder of Teamup.
Both organisations are eager to use their institutional knowledge to help the ecosystem expand by hosting collaborative events, seminars, and developing new projects.
“In Pakistan, fintech is exploding, particularly in the areas of payments, information, and innovation. It is a future full with possibilities, opportunities, and developments. Collaboration with major industry partners is the best way to ensure the long-term viability of Pakistan’s fintech ecosystem.” Chairman of Pakistan Fintech Network, Nadeem Hussain