RAKBANK and Faturalab Partner to Transform Supply Chain Finance

RAKBANK has entered into a strategic partnership with Faturalab, a provider of smart supply chain solutions, to enhance supply chain finance for businesses across the UAE. This marks Faturalab’s first collaboration outside of Türkiye, facilitated by RAKBANK, as it expands its presence within the GCC.

Vikas Suri, Managing Director – Wholesale Banking Group-Products at RAKBANK, highlighted the importance of digital transformation in wholesale banking, stating, “At RAKBANK, our commitment to digital transformation is central to how we serve our wholesale banking clients. By embracing innovative technology, we are redefining our business processes to deliver faster, more efficient financing solutions. Our partnership with Faturalab underscores our strategy to stay ahead of industry trends and meet the evolving needs of global commerce.”

Ehsaan Uddin Ahmed, Executive Vice President & Head of Transaction Banking at RAKBANK, emphasised the role of the collaboration in enhancing trade finance offerings. “Our trade finance offerings are focused on empowering corporates with greater clarity and control over their financial operations. This collaboration with Faturalab equips us with advanced tools that simplify supply chain processes and enhance operational transparency, ultimately facilitating smoother and more secure trade transactions.”

For Faturalab, the partnership represents an important step in expanding its reach within the GCC. “We are excited to join forces with RAKBANK—a forward-thinking institution that understands the power of digital innovation,” said Saruhan Dogan, co-founder and Board Member of Faturalab. “Our technology is designed to simplify the complexities of supply chain finance, enabling businesses to navigate global trade with enhanced efficiency and precision.”

Ahmet Bekce of Supply Chain Technologies Ltd. echoed this sentiment, stating, “We are delighted to be part of this visionary partnership to bring cutting-edge supply chain solutions to the region. By integrating our digital capabilities with RAKBANK’s top-class platform, this partnership will be setting a new standard for transparency and efficiency that will benefit businesses across the region.”

This partnership reflects the increasing role of digitalisation in supply chain finance and highlights the importance of technological collaboration in strengthening trade finance ecosystems in the UAE and beyond.