Excelsior Correspondent
SRINAGAR, Oct 24: In line with its digital mission to offer convenient, affordable, and secure digital banking solutions to MSMEs, J&K Bank today announced its first fintech partnership with Marg ERP Ltd, which is known for its expertise in providing tailored and cost-effective software solutions to business enterprises.
The tie-up will benefit the common customers in MSME sector particularly pharmaceuticals, FMCG and retail by meeting their day-to-day business accounting needs and facilitating seamless banking and payment services.
MD & CEO Baldev Prakash today launched the collaborative product along with CMD Marg ERP Thakur Anup Singh and Bank’s Executive Director (ED) Sudhir Gupta here at the Bank’s corporate headquarters in presence of General Managers, DGMs and AGMs besides business leaders representing various MSMEs. The Bank’s Divisional Heads also joined the event through VC mode.
Commenting upon the importance of this partnership, Baldev Prakash said, “This tie-up with Marg ERP Ltd is essentially the first step in our digital market outreach towards businesses. It will address the growing demand for digital solutions, ensuring that customers have access to more convenient, efficient, and personalized banking experiences.”
While urging the operational heads to encourage its customers especially chemists to use Marg ERP for their accounting and inventory needs, MD & CEO said that the Bank will extend upto Rs 5 Lac as pre-approved loan to all such customers for renovation of their business establishments (shops/outlets)
CMD Marg ERP said that the businesses and Fintechs across the country really needed such a decisive and prudent institutional support from the banks. Highlighting the importance of tie-up he said, “This collaboration marks a significant step towards facilitating digital transformation for MSMEs, helping them to scale-up and streamline their processes with greater convenience.”
DGM (BPR) Mohammad Muzaffar Wani also spoke about the Bank’s Open Banking APIs and the opportunities in collaborative banking.
Earlier, the Bank’s Chief Digital Officer (CDO) Naveed Masood Zargar gave a detailed presentation about the product, its features, benefits and functioning.
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