25-02-2025
United Arab Bank partners with Qualco to digitise supply chain finance operations
Qualco has announced a strategic partnership with United Arab Bank (UAB), one of the longstanding home-grown banks in the UAE. Together, they will deploy Qualco ProximaPlus, a cutting-edge platform to enhance the bank's receivables and supply chain finance (SCF) operations. This collaboration aims to streamline financial services and elevate customer experience.
With Qualco ProximaPlus, UAB can optimise its receivables and SCF offerings, boosting corporate clients' cash flow and liquidity management. The transition to a fully digital platform and automated processes will allow the bank to scale services effortlessly, meeting the evolving needs of its corporate clients.
Nael Mourad, head of Wholesale Banking, UAB, commented: "Our collaboration with Qualco will help us provide our customers with real-time information, ensuring seamless communication and offering flexible SCF solutions. This partnership will provide easier access to affordable capital, strengthen relationships between corporate buyers and suppliers, and enhance the resilience of supply chains across the UAE."
Niraj Kumar, head of Global Transaction Banking, UAB, also added: "At UAB, we understand that efficient cash flow management is critical to the success of corporates operating in the UAE market. Qualco's SCF platform addresses these needs by offering seamless financing solutions that improve customer experience and benefit all the parties involved. This aligns with our vision of continually enhancing the client experience through cutting-edge technology."
Ioannis Maniadakis, vice-president of New Ventures, Qualco, commented: 'The UAE region holds immense potential for innovation, and Qualco is proud to collaborate with leading banks in this dynamic market. Our partnership with UAB underscores our commitment to delivering impactful, scalable solutions that address regional needs while creating lasting value for our clients and their communities'
In his turn, George Koukis, International Business Development director, Qualco, stated: "We are excited to support UAB with our technology, enabling scalability and faster market entry for new SCF products while enhancing transparency through real-time customer communication. This partnership also highlights our focus on the GCC and Mena regions, where we invest to support growth and expand our presence."
