RAKBANK and Faturalab forge strategic partnership in the GCC to transform supply chain finance
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Rakbank Intellect Global Rakbank RAK Supply Chain Technologies Ltd. Faturalab Forge Strategic Partnership
Dubai, United Arab Emirates – 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."
About RAKBANK
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.
We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).
RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments.
With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000.
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