Digitt+, a leading fintech company, has partnered with UBL, one of Pakistan’s largest banks, to enable seamless digital disbursements exceeding 1 billion rupees to the agricultural sector. This is facilitated through Digitt+’s innovative Crop Procurement Receipt (CPR) financing solution, empowering farmers with seamless access to funding. This collaboration marks a pivotal moment in improving initially the speed, efficiency, and accessibility of financial services for farmers across the country.
Bank-fintech partnerships, like the collaboration between UBL and Digitt+, are setting a new benchmark worldwide. By blending financial stability and extensive networks of traditional banks with the speed and innovation of fintechs, these alliances are tackling critical challenges like financial inclusion, and agility. They are delivering game-changing solutions, particularly in underserved sectors such as agriculture, driving meaningful progress and impact.
Through this partnership, Digitt+ will leverage its state-of-the-art, in-house technology to handle digital disbursements. By providing a robust payment platform and an intuitive mobile application, Digitt+ will ensure that farmers receive their payments quickly and securely, drastically reducing processing times compared to traditional methods. This initiative aims to provide farmers with timely access to essential funds, thereby supporting the agricultural sector’s growth and sustainability.
UBL will facilitate lending to the agriculture sector, ensuring financial backing for farmers and strengthening the country’s agricultural financing ecosystem. The disbursements started on 31st December 2024 and were focused on farmers in key agricultural hubs, including Dera Ismail Khan (DI Khan), Faisalabad, Ghotki, Rahim Yar Khan and Muzaffargarh. This targeted approach aims to provide immediate support to farmers in regions vital to Pakistan’s agricultural output.
Ahmed Saleemi, CEO of Digitt+, commented:
“Our partnership with UBL is a significant milestone in our mission to empower farmers through digital payments. With our technology and UBL’s banking expertise, we are ensuring that over 1 billion rupees will reach farmers in the quickest, most efficient way possible, improving their access to essential financial resources.”
Abdul Aleem Qureshi, GE- Branch Banking, UBL commented:
“We are excited to work with Digitt+ to bring the benefits of digital payments to the agriculture sector. This collaboration will not only provide farmers with timely access to their payments but also help modernize the agricultural financing ecosystem in Pakistan, boosting productivity and growth in the sector.”
This partnership represents a powerful collaboration between the fintech and banking sectors, combining technology and financial expertise to create a positive impact on Pakistan’s agricultural economy. Globally, such partnerships are increasingly recognized for their potential to deliver exceptional results, and this initiative is poised to set a new standard for digital payments, benefiting farmers and contributing to financial inclusion across the country.
