ABL, Fauree Tech signs strategic partnership

KARACHI: Allied Bank Limited (ABL) has entered into a strategic partnership with Fauree Tech Pvt. Limited, a leading fintech company specializing in supply chain finance solutions, to expand its Digital Supply Chain Financing Products aimed at empowering small and medium-sized enterprises (SMEs) in Pakistan.

The partnership was formalized at Allied Bank’s Head Office in Lahore, with key executives from both organizations in attendance.This collaboration will provide Allied Bank’s corporate clients and SMEs with access to Fauree’s cutting-edge digital platform, offering fast, transparent, and efficient financing solutions. The platform will help businesses optimize their working capital, enhance cash flow, and streamline the entire financing process in an efficient and fully digital manner.

Mr. Mujahid Ali, Chief Technology and Digital Transformation at Allied Bank, expressed the significance of the partnership, stating, “This collaboration marks a major milestone in our efforts to drive digital innovation in Pakistan’s financing sector. We are excited to work with Fauree to provide businesses with an efficient financing solution that meets the evolving needs of SMEs in Pakistan’s dynamic market.”

Azhar Tasadduq, CEO of Fauree, emphasized the importance of supporting SMEs, saying, “Pakistan’s supply chains are largely driven by SMEs, and these businesses face significant challenges in accessing liquidity and financing. ”