Bank Alfalah, one of the largest private banks in Pakistan, and Adal Fintech, a Techlogix subsidiary focused on ‘Digital Financing,’ have collaborated to offer Digital Supply chain financing all over Pakistan. The scope of this alliance is to extend digital lending facility to the retailers in coordination with their suppliers. This solution enables the retailer to opt for financing facility on the real-time basis.
This digital access to finance Small and Medium Enterprises in the Retail space offers instant financing solution with the use of robust and sophisticated machine learning techniques and software solutions to make it accessible to even the most remote locations.
President & CEO – Atif Bajwa was pleased to put the cornerstone in the automation of Small and Medium scale financing in Pakistan and said, “This collaboration is indeed in line with the Bank’s vision to offer seamless banking services to its customers the digital way. It further demonstrates our continued commitment to collaborate with Fintechs and invest into innovative ventures in the digital sphere that are promising and also to provide ease of use for our customers”.
The CEO of Adal Fintech – Salman Akhtar stated, “We are delighted to offer a breakthrough innovation for Digital Lending in Pakistan, in partnership with Bank Alfalah. Our solution will offer real-time access to lending and will help in significantly expanding the access to credit for the SME sector in Pakistan. Our Digital Lending Platform has already enabled more than 10,000 loans over the past few months and we expect to scale this further in collaboration with our partner banks”.
Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

Dubai’s Crypto Market and the Challenges: The Cryptoverse Responds to Global Changes

Dubai’s crypto market has been significantly influenced by the evolving global regulatory…

LUMS Energy Institute hosts seminar on advancing Pakistan’s Energy Sector

Pakistan’s prestigious institution, LUMS, recently organized a seminar focused on addressing the…

Citizens Lodge Financial Fraud Cases Against AAA Associates

Two citizens file financial fraud cases against AAA Associates’ Managing Director, Lieutenant…

Telenor Microfinance Bank Future Uncertain After PTCL Telenor Merger

The recent merger of Telenor Pakistan with PTCL has sent shockwaves through…