ISLAMABAD, PAKISTAN: Bank Alfalah and Adal Fintech have collaborated to offer digital supply chain financing all over Pakistan, a news release noted.
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 (SMEs) 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”.
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”.