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TEST – UAE’s Invest Bank Onboards Veefin Solutions to Digitize Their Supply Chain Finance Operations
Invest Bank, one of UAE’s leading financial institutions, has onboarded Veefin Solutions, a leading provider of digital supply chain finance technology and working capital solutions, to fully digitize its Supply Chain Finance (SCF) offerings. This collaboration will replace the bank’s existing manual processes with a state-of-the-art digital platform, enabling faster, more efficient, and seamless financing for businesses across the UAE.
Through this partnership, Invest Bank will leverage Veefin’s advanced SCF Loan Management System platform allowing them to streamline financing, eliminating time-consuming manual workflows and significantly improving operational efficiency.
By embracing full-scale digital transformation, Invest Bank aims to provide businesses with instant access to working capital, reduced paperwork & manual intervention, and improved turnaround times, strengthening its position as a leader in technology-driven banking.
Edris Al Rafi, Chief Executive Officer at Invest Bank said: “With our strategic partnership with Veefin, Invest Bank is poised to leverage Supply Chain System to redefine the landscape of open account finance. This system not only sets us apart in competitive markets but also amplifies our client service model and meets our stringent risk control objectives. It’s a transformative step enhancing our digital journey to enhance customer experiences and minimizing reliance on traditional branch networks.”
Gautam Udani, Co-Founder and COO at Veefin Solutions, said: “We are glad to support Invest Bank in its mission to digitize Supply Chain Finance. Our platform will help replace legacy manual systems with an intuitive, fully automated digital solution, ensuring faster approvals, better transparency, and a superior user experience for businesses seeking financing.”
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