Dhaka: Mutual Trust Bank Ltd (MTB) and CASHe Alliance Limited (CAL) signed a Memorandum of Understanding to launch a digital lending app for underserved millennials and genZ Bangladeshis.

The organisations inked an agreement through a ceremony held at MTB Centre, the bank’s Corporate Head Office in the capital.

Syed Mahbubur Rahman, Managing Director and CEO of MTB and Israr Khosru Chowdhury, Director of CASHe Alliance Limited signed the MoU on behalf of their respective organisations.

The digital lending app will accelerate financial inclusion in Bangladesh by offering affordable, hyper-personalised and instantaneous credit to middle-income customers on MTB’s app and powered by CAL’s proprietary alternative credit scoring technology.

The app will be launched in Q3 2022 with MTB’s payroll customers and will be expanded for external customers shortly after.