Bank Alfalah, one of Pakistan’s major private banks, has teamed up with Adal Fintech, a Techlogix subsidiary focusing on ‘Digital Financing,’ to provide Digital Supply Chain Financing across the country. The goal of this partnership is to provide digital loans to merchants in collaboration with their suppliers. This system allows the store to choose a financing option in real time.
With the use of strong and advanced machine learning techniques and software solutions, this digital access to finance Small and Medium Enterprises in the Retail field gives rapid funding solution to even the most remote regions.
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”.