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29 May 2024

Business Insider Bangladesh

Asia’s leading tech company to partner with Nagad

BI Report || BusinessInsider

Published: 10:31, 26 March 2024  
Asia’s leading tech company to partner with Nagad

Photo: Courtesy

Southeast Asia’s first tech billionaire, Goh Peng Ooi, through his established Silverlake Group, is looking forward to partnering with Nagad, one of the country’s top mobile financial services.

Peng has expressed his keen interest after learning about Nagad and studying its related case studies, and this will mark Silverlake Group’s first partnership initiative in South Asia.

Recently, Tanvir A. Mishuk, founder and CEO of Nagad Ltd. met Goh Peng Ooi at his residence in Malaysia. Impressed by Nagad’s customer-friendly innovations, acquisition of over 9 crore customers within just five years, and its unique business model, Goh Peng promptly expressed his interest.

During this courtesy call, Mishuk also invited him to visit Nagad Ltd., reports a press release.

Founded in 1989, the Silverlake Group, a software organisation that delivers leading-edge tech and financial solutions, currently provides support to more than 400 banks operating in over a hundred countries.

Almost all banks in Singapore, including its two main banks, United Overseas Bank (UOB) and Overseas Chinese Banking Corporation (OCBC), are heavily dependent on Silverlake Group’s technology. The leading tech solution provider’s business collaborations extend across Europe, America, Australia, Africa, and Asia.

During the meeting with Mishuk, Peng said they had previously received multiple proposals from different companies based in various South Asian countries, including Bangladesh and India, but they did not find sufficient reasons to integrate with them into Silverlake. However, they perceive Nagad differently in the realm of financial entities.

According to the proposal, Silverlake Group will offer Nagad the opportunity to utilise its most advanced banking technologies. Nagad believes that this initiative would not only benefit Nagad but also bring significant changes to the entire banking sector in Bangladesh.

Talking about Goh Peng Ooi and Silverlake Group’s interest in partnering with Nagad, CEO of Nagad Ltd. Mishuk, said, “I think this is not only good news for Nagad, but also for the entire Bangladesh, as it creates the possibility of a drastic change in the country’s banking landscape. We believe it will eventually play a transformative role for millions of people in the country.”