Veefin Solutions rises after bagging digital transformation contract from UAE's Invest Bank

Veefin Solutions added 1.32% to Rs 371 after the company announced the signing of an agreement with UAE-based Invest Bank for digitizing the latter's Supply Chain Finance (SCF) offerings.

Founded in 1975, Invest Bank PSC is a prominent public shareholding company based in Sharjah, UAE. With over four decades of substantial presence, the bank has cemented its reputation as a trusted provider within the UAEs competitive banking sector, dedicated to delivering top-tier financial services.

According to the agreement, Invest Bank will leverage Veefins advanced SCF Loan Management System platform allowing them to streamline financing, eliminating time-consuming manual workflows and significantly improving operational efficiency.

With this full-scale digital transformation, Invest Bank aims to provide businesses with instant access to working capital, reduced paperwork& manual intervention, and improved turnaround times.

Gautam Udani, co-founder and COO at Veefin Solutions, said: "We are glad to support Invest Bank in its mission to digitize Supply Chain Finance.

Our platform will help replace legacy manual systems with an intuitive, fully automated digital solution, ensuring faster approvals, better transparency, and a superior user experience for businesses seeking financing.

Veefin Group addresses every aspect of optimising working capital, by offering solutions across end-to end digital supply chain finance, digital identity verification and automated financial statement analysis, debt securitization, cash management, trade finance, automated accounts receivable (AR) & accounts payable (AP) and software consulting and services by deploying innovative, agile & scalable technology.

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