Rakbank has partnered with Turkish fintech platform Faturalab to improve transparency and efficiency across its supply chain finance offering in the UAE. 

Istanbul-headquartered Faturalab, founded in 2016 as an invoice finance platform, is a provider of digitalised supply chain finance products to several Turkish corporates. 

The partnership marks its “first strategic tie-up outside of Türkiye”, and will allow UAE-headquartered Rakbank to integrate Faturalab’s digital technology and analytics capabilities within its wholesale banking operations, the bank says. 

“By embracing innovative technology, we are redefining our business processes to deliver faster, more efficient financing solutions,” says Rakbank managing director Vikas Suri. 

Ehsaan Uddin Ahmed, executive vice-president and head of transaction banking, adds: “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.” 

Saruhan Dogan, Faturalab co-founder and board member, says the company’s technology “is designed to simplify the complexities of supply chain finance, enabling businesses to navigate global trade with enhanced efficiency and precision”.