Modefin signs deal with Meghna Bank for mobile financial solutions

By Leandra Monteiro

Modefin, a global FinTech solution provider, recently signed a tripartite agreement with Meghna Bank and Genex Infosys to supply and implement their Mobile Financial Services Solution. The agreement was signed at the bank’s headquarters in Dhaka, Bangladesh.

This tri-party partnership between Meghna Bank Limited, Genex Infosys Limited, and Modefin will enable the Bank to expand its client base, reach out to more unbanked people in rural areas, and make the banking services more digitalized and user-friendly.

The agreement was signed by Mr. Sohail R K Hussain, Managing Director of Meghna Bank, Mr. Amarnath Chowdary, Founder & Managing Director of ModeFin, and Mr. Prince Mojumder, Chief Executive Officer and Co-founder of Genex Infosys Limited.

Speaking about the partnership, Mr. Amarnath Chowdary, Founder & Managing Director of ModeFin, stated, “Bangladesh has immense potential to leverage the ModeFin solution to service the underserved and unserved. With this, the bank also will get an opportunity to focus on niche customer segments like Agri loans or microloans using the mobile phone. We look forward to working closely with our local partner Genex Infosys and Meghana Bank to make this project successful.”

Honorable Chairman of Meghna Bank, Mr. H.N. Ashequr Rahman, MP, Mr. Shyamol B. Das, DMD & CIO of Meghna Bank, Mr. Amit Darda, Co-founder & Director of Modefin, Mr. Abu Taiyab, Chief Operating Officer of Genex Infosys and other high officials from all three organizations were also present in the agreement signing ceremony.