Islamabad, Feb 19: Digitt+, a leading fintech company, has partnered with United Bank Limited (UBL) to enable digital disbursements exceeding Rs. 1 billion to Pakistan’s agricultural sector. This initiative leverages Digitt+’s Crop Procurement Receipt (CPR) financing solution, streamlining access to funds for farmers and significantly improving the efficiency of agricultural financing.
The partnership underscores a global shift in banking-fintech collaborations, combining the financial stability and extensive networks of traditional banks with the speed and innovation of fintechs. By integrating these strengths, critical challenges like financial inclusion and payment agility in underserved sectors are being addressed, leading to game-changing solutions for farmers across Pakistan.
Through this collaboration, Digitt+ will utilize its in-house technology to manage digital disbursements, providing farmers with a robust payment platform and an intuitive mobile application. This will ensure quick and secure fund transfers, reducing processing times compared to traditional banking methods. The initiative aims to empower farmers with timely access to financial resources, supporting the sector’s growth and long-term sustainability.
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UBL’s role in the partnership involves facilitating lending to the agricultural sector, strengthening Pakistan’s agricultural financing ecosystem. The disbursements, which began on December 31, 2024, initially focused on key agricultural hubs such as Dera Ismail Khan (DI Khan), Faisalabad, Ghotki, Rahim Yar Khan, and Muzaffargarh. By targeting these regions, the initiative ensures immediate financial support to farmers contributing to Pakistan’s vital agricultural output.
Ahmed Saleemi, CEO of Digitt+, emphasized the significance of the initiative, stating, “Our partnership with UBL is a major milestone in our mission to empower farmers through digital payments. By combining our technology with UBL’s banking expertise, we are ensuring over Rs. 1 billion reaches farmers efficiently, improving their financial accessibility.”
Abdul Aleem Qureshi, Group Executive – Branch Banking at UBL, added, “We are excited to collaborate with Digitt+ to modernize the agricultural financing ecosystem in Pakistan. This initiative will not only provide farmers with timely payments but also enhance productivity and growth in the sector.”
This collaboration represents a powerful fusion of fintech and banking, setting a new benchmark for digital payments in Pakistan’s agriculture sector. By bridging financial and technological innovation, the partnership is expected to drive financial inclusion, enhance productivity, and create lasting economic impact, benefiting farmers and the broader agricultural economy.
