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Southeast Asia’s first tech billionaire, Goh Peng Ooi, through his established Silverlake Group, looks to partner with Nagad, one of the country’s top mobile financial services. After learning about Nagad and studying its related case studies, he has expressed his keen interest – this will mark Silverlake Group’s first partnership initiative in South Asia.
Recently, Tanvir A. Mishuk, founder and CEO of Nagad Ltd., received a warm invitation from 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 Nagad Ltd.
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 Oversea-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 Tanvir A. Mishuk, Goh Peng Ooi said they had previously received multiple proposals from different companies based in various South Asian countries, including Bangladesh and India, but they hadn’t found sufficient reasons to integrate them into Silverlake. However, they perceive Nagad differently in the realm of financial entities.
Goh Peng Ooi, the founder and chairman of Silverlake Group, has revolutionised the use of information technology in banking.
According to the proposal, Silverlake Group will offer Nagad the opportunity to utilise its most advanced banking technologies. Nagad believes that this initiative will 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. Tanvir A. 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.”
Inaugurated by Prime Minister Sheikh Hasina in 2019 as a mobile financial service, Nagad is now preparing to emerge as the country’s first digital bank in the middle of this year. Nagad has already introduced some ground-breaking innovations, leading to a transformation in the country’s financial industry. Nagad also hopes to continue to better serve its customers through its digital bank.
Messenger/Disha
