Invest Bank partners with Veefin Solutions to drive digital transformation in supply chain finance

Invest Bank, a leading financial institution in the United Arab Emirates, has taken a significant step towards digital transformation by partnering with Veefin Solutions, a global provider of financial technology platforms. The collaboration is aimed at digitizing the bank’s supply chain finance operations, replacing its manual processes with a cutting-edge digital lending solution. By adopting Veefin’s advanced system, Invest Bank is enhancing its ability to provide seamless and efficient financing solutions to businesses across the UAE.

The strategic move comes at a time when digitalization is becoming a critical factor in banking competitiveness. Traditional financing models, which often involve extensive paperwork and prolonged approval processes, have become inefficient in today’s fast-paced economic landscape. With the integration of Veefin’s technology, Invest Bank aims to improve operational efficiency, accelerate loan processing, and offer businesses instant access to working capital.

What advantages does Veefin Solutions bring to Invest Bank’s supply chain finance?

Veefin Solutions, a specialist in financial technology platforms, provides an advanced digital lending solution tailored to streamline supply chain finance for banks and financial institutions. Through this partnership, Invest Bank will leverage Veefin’s supply chain finance system to automate financing workflows, eliminating manual interventions and significantly improving turnaround times.

By transitioning to a fully digitized model, Invest Bank will enable businesses to access financing faster while maintaining transparency and control. The new platform is designed to reduce reliance on physical paperwork, minimize human errors, and provide businesses with an intuitive interface for seamless transactions. Furthermore, automation will enhance risk management by enabling data-driven credit assessments, ensuring that financing decisions are based on real-time financial insights.

Edris Al Rafi, Chief Executive Officer of Invest Bank, stated that the integration of Veefin’s technology represents a transformative milestone for the bank. He emphasized that adopting an advanced supply chain finance system will not only improve efficiency but also enhance the bank’s competitiveness in the growing open account finance sector.

How does this partnership enhance digital lending for businesses in the UAE?

One of the key benefits of Invest Bank’s collaboration with Veefin Solutions is the ability to offer businesses an end-to-end digital lending solution. Traditionally, businesses in the UAE have faced challenges in obtaining quick access to supply chain finance, as conventional banking processes often involve lengthy paperwork and manual approval systems. By implementing Veefin’s technology, Invest Bank will be able to provide a financial technology platform that streamlines the entire lending cycle, from application to disbursement.

With this digital transformation, businesses will experience improved access to working capital, faster loan approvals, and enhanced cash flow management. The system’s automated underwriting and smart credit decisioning will help businesses of all sizes, including small and medium enterprises, to secure financing without unnecessary delays. Additionally, the intuitive platform will allow users to monitor their transactions in real time, ensuring complete transparency in their financial dealings.

According to Gautam Udani, Co-Founder and Chief Operating Officer at Veefin Solutions, the company’s mission is to replace outdated manual systems with fully automated financial technology platforms. He emphasized that this partnership will bring greater efficiency to supply chain finance, ensuring a superior user experience for businesses seeking financing solutions.

Why is Invest Bank prioritizing digital transformation in financial services?

Invest Bank’s decision to onboard Veefin Solutions aligns with the growing trend of digitalization in the banking sector. Over the past few years, financial institutions have increasingly embraced technology to improve their service offerings, enhance customer experiences, and maintain a competitive edge.

By integrating Veefin’s digital lending solution, Invest Bank is positioning itself as a leader in supply chain finance, ensuring that businesses have seamless access to capital without being burdened by cumbersome processes. The adoption of financial technology platforms is also expected to reduce operational costs while enhancing the bank’s ability to scale its services to meet the growing demand for fast and efficient financing.

What is the significance of Invest Bank’s strategic evolution?

Founded in 1975, Invest Bank PSC has established itself as a reputable financial institution within the UAE. With over four decades of expertise in the banking sector, the institution has continuously evolved to meet the changing needs of its clients. The bank has undergone significant transformations in recent years, with the Government of Sharjah becoming a strategic stakeholder in 2019. The government’s ownership, which currently stands at 70.11%, has reinforced the bank’s stability and growth trajectory.

By embracing digitalization through its partnership with Veefin Solutions, Invest Bank is demonstrating its commitment to innovation. The bank’s efforts to modernize supply chain finance align with global banking trends, where automation and digital transformation are key drivers of success. With this new initiative, Invest Bank is not only enhancing its financial services but also reinforcing its position as a technology-driven institution capable of meeting the evolving demands of businesses in the UAE.

What’s next for Invest Bank and Veefin Solutions?

As Invest Bank integrates Veefin’s financial technology platform, businesses across the UAE can expect significant improvements in their financing options. The move marks a critical step toward eliminating traditional barriers in supply chain finance, enabling companies to operate more efficiently and scale their operations with ease.

Veefin Solutions continues to expand its reach as a leading provider of digital lending solutions, offering end-to-end services in trade finance, cash management, debt securitization, and accounts receivable automation. With a presence in Mumbai, Ahmedabad, Dhaka, and Dubai, the company is rapidly growing its footprint in the global fintech landscape.

Invest Bank’s digital evolution represents a broader shift in the UAE’s banking sector, where financial institutions are prioritizing technology to drive growth. As the bank continues to enhance its offerings, its collaboration with Veefin Solutions will play a crucial role in shaping the future of supply chain finance and digital banking services in the region.