RAKBANK partners with Faturalab in the UAE, marking Faturalab’s first strategic expansion into the GCC
RAKBANK has announced a strategic partnership with Faturalab, a leading provider of smart supply chain solutions, to transform supply chain finance for businesses across the UAE. This is Faturalab’s first strategic tie-up outside of Türkiye, enabled by RAKBANK, marking a significant milestone in expanding its reach within the GCC. Faturalab is a technology partner to many Turkish conglomerates, with a solid track record of supporting financial institutions in supply chain finance for over four years.
The partnership was formalized at RAKBANK’s Corporate Office in Dubai, in the presence of Vikas Suri, Managing Director – Wholesale Banking Group-Products at RAKBANK, Ehsaan Uddin Ahmed, Executive Vice President & Head of Transaction Banking at RAKBANK, Saruhan Dogan , co-Founder and Board Member of Faturalab, and Ahmet Bekce, co-founder of Supply Chain Technologies Ltd. This collaboration leverages Faturalab’s state-of-the-art digital technology and analytics capabilities, reinforcing RAKBANK’s commitment to integrating innovative tech solutions within its wholesale banking operations.
RAKBANK Leadership Statements
Vikas Suri, Managing Director – Wholesale Banking Group-Products at RAKBANK, stated: “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 RAKBANK, added: “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.”
Faturalab Leadership Statements
Saruhan Dogan, co-Founder and Board Member of Faturalab, commented: “We are excited to join forces with RAKBANK—a forward-thinking institution that understands the power of digital innovation. 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., remarked: “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.”
