Allied Bank has taken another major step in its digital banking journey by partnering with Karandaaz Pakistan and Techlogix Mobility to foster financial inclusion and provide digital credit access to underserved market segments. This collaboration aims to support SMEs and small merchants through data-driven digital lending solutions, in line with ABL’s vision to promote accessible, tech-enabled financial services.
The agreement was signed at ABL’s Innovation Lab, Head Office, Lahore, by:
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Mr. Sohail Aziz, Chief – Digital Banking, ABL
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Mr. Waqas ul Hasan, CEO, Karandaaz
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Mr. Salman Akhtar, Co-CEO, Techlogix Mobility
Driving Financial Inclusion Through Innovation
“We are proud to be part of the Karandaaz Innovation Challenge Fund and are geared up to play our part in the financial inclusion of the SME sector. With this agreement, we have entered a new era of digital lending, where merchants can receive instant financing for their orders—digitally through our myABL mobile app using data analytics.”
— Mr. Sohail Aziz, Chief Digital Banking, Allied Bank
Empowering Pakistan’s Underserved SMEs
“Karandaaz is optimistic that this partnership with ABL and Techlogix Mobility will result in an innovative lending model that addresses the capital needs of the underserved SME sector. Efficient capital allocation will generate jobs and contribute to Pakistan’s economic growth.”
— Mr. Waqas ul Hasan, CEO, Karandaaz Pakistan
Tech-Powered Lending for Merchants
“In Pakistan, fewer than 5% of SMEs receive formal financing. To address this, we have developed a unique data-driven solution to help ABL extend credit to merchants and small distributors. We are excited about this collaboration and grateful to Karandaaz for supporting SME growth.”
— Mr. Salman Akhtar, Co-CEO, Techlogix Mobility
About Allied Bank
Allied Bank is one of the largest banks in Pakistan, with a network of 1,400+ branches, 1,590+ ATMs, and a customer base of over 4 million. ABL offers a wide range of corporate, retail, and consumer banking services, and remains committed to advancing digital financial solutions for all customer segments.
Visit: www.abl.com
About Karandaaz Pakistan
Karandaaz is a not-for-profit organization, incorporated under Section 42 in 2014. As the implementation partner of the UK Foreign, Commonwealth & Development Office’s (FCDO) Enterprise and Asset Growth Programme, Karandaaz promotes access to finance for micro, small, and medium-sized enterprises (MSMEs) and supports financial inclusion through technology-driven solutions.
Visit: www.karandaaz.com.pk
About Techlogix Mobility
Techlogix Mobility, a subsidiary of Techlogix, is a technology company specializing in sales distribution automation and digital lending. It provides innovative tools and platforms to enhance financial accessibility and efficiency within Pakistan’s SME ecosystem.
Visit: www.techlogix.com