LAHORE: Allied Bank (ABL) and Haball have signed an agreement to digitalise supply chain payments in a ceremony held at Innovation Lab located at ABL Head Office in Lahore. The agreement was signed by Mohsin Mithani Group Head Digital Financial Services & Innovation at ABL 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 digitalisation 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 account being maintained at ABL.

Allied Bank’s business customers will benefit from the removal of delays in payments, reconciliations, and invoices and thanks to this digitalization, which will ultimately lead to effective working capital management.

Speaking on the occasion, Sohail Aziz, Chief Digital Banking Group, Allied Bank, said, “Allied Bank has always been on 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 enable them to provide exceptional transactional experience to our mutual customers”

Omer Bin Ahsan, CEO Haball 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.”

Copyright Business Recorder, 2022