The second round of changes has been evident in the official logo of the mobile financial service Nagad for some time. There is no picture of Dak Harkara or runner inside the logo. Although there was no official announcement, the secret behind it was known today. It has officially been informed that, South East Asia’s first tech billionaire Goh Penong Wee wants to partner with Nagad, one of the best mobile financial services of Bangladesh through his established Silverlake Group. After learning about mobile financial services Nagad and reading related case studies, he expressed his interest. This will be Silverlake Group’s first partnership activity in South Asia.
It is reported that Goh Penong Wee recently invited the founder and CEO of Nagad, Tanveer A. Mishuk, for dinner at his home in Malaysia. He was immediately intrigued by Nagad ‘s customer-friendly innovation, over nine crore subscribers in just five years, and Nagad ‘s business model. Tanveer A Mishuk also welcomed him in Nagad at that time.
Founded in 1989, Silverlake Group’s technology is currently being operated by more than four hundred banks in more than a hundred countries around the world. Almost all banks, including Singapore’s two largest banks, United Overseas Bank (UOB) and Overseas-Chinese Banking Corporation (OCBC), are fully dependent on Silverlake Group’s technology. In addition to Europe, America, Australia, Africa and Asia, their business scope is wide.
In a meeting with Tanveer A Mishuk, Goh Penong Wee said that before Bangladesh and India, several proposals from other South Asian countries came to them, but Wee did not find enough reasons to include Silverlake there. However, Nagad seemed to them to be a different kind of institution.
Goh Penong Wee is the founder and chairman of Silverlake Group. He has changed the way information technology is used in banking through his brilliant inventions.
According to the proposal, Silverlake Group will allow Nagad to use its latest banking technologies. As a result, we Nagad believes that not only Nagad but the entire banking sector of Bangladesh will bring positive changes.
About Goh Penong Wee and Silverlake Group expressing interest in partnering with Nagad, Tanveer A Mishuk, chief executive officer of Nagad, said, “I think this is a good news not only for Nagad but also for the whole of Bangladesh. Because in the meantime, there is a possibility of radical change in the banking sector of Bangladesh. We believe this will ultimately have a positive impact on the billions of people in the country.”