Allied Bank (ABL) and Haball have signed an agreement to digitalize supply chain payments in a ceremony held at Innovation Lab located at ABL Head Office in Lahore.
The agreement was signed by the Group Head of Digital Financial Services & Innovation at ABL, Mohsin Mithani, and Omer Bin Ahsan, CEO Haball.
This partnership between ABL and Haball simplifies the B2B payment process by allowing businesses of all sizes to make high-speed digital payments and participate in the digitalization of their supply chains.
Distributors and retailers who are a part of the supply chain can place orders and make digital real-time payments on the Haball platform by debiting their accounts being maintained at ABL. Allied Bank’s business customers will benefit from the removal of delays in payments, reconciliations, and invoices, thanks to this digitalization, which will ultimately lead to effective working capital management.
Speaking at the occasion, Chief Digital Banking Group Allied Bank, Sohail Aziz, said, “Allied Bank has always been at the forefront of innovation and is determined to collaborate and partner with emerging FinTechs to provide value-added services to our customers. Through this arrangement with Haball, we are entering into a new era where FinTechs can leverage ABL’s Digital infrastructure which enables them to provide exceptional transactional experience to our mutual customers.”
Speaking at the occasion, CEO Haball, Omer Bin Ahsan, said, “This is another significant step in the establishment of a robust B2B ecosystem in Pakistan. Allied Bank’s inclusion would surely assist businesses in facilitating context-driven payments given that a number of well-known blue-chip market participants are already connected to our platform and their supply chain participant’s bank with ABL. This will help ABL in offering digital services via Haball and attract them towards ABL as a payments bank.”
Allied Bank is one of the largest banks in Pakistan with an extensive customer base of over 5 million+, an outreach of 1,425 branches and 1,570 ATMs, and operating in corporate, commercial, retail, and consumer banking services. The bank is persistently investing in technological solutions for providing digital financial services to all customer segments.
Haball, a B2B fintech company, provides companies and their stakeholders with a platform that enables the real-time digitization of electronic billing and debt collection processes.
