First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has become the first bank in the Middle East to join Komgo, a fintech offering digital network, trade and working capital workflow solutions for corporate and financial institutions.
Through the Komgo Network, FAB’s key clients can initiate trade finance transactions across various international locations as well as obtain competitive pricing.
FAB is also a lead participant in the development of Komgo’s Market solution for FIs, which will further enhance FAB’s trade secondary risk distribution capabilities.
Anirudha Panse, MD & Head of GTB Trade Finance Product Innovation at FAB, said: “At FAB our approach to digital technology is all about combining multiple solutions, embracing emerging technology, adopting evolving business models, and innovating in what we do. Our partnership with Komgo will have an immediate benefit for our clients. By working together with Komgo, FAB is strengthening its offerings for our investment and corporate banking clients.”
Souleïma Baddi, CEO of Komgo added: “We’re very proud to work with forward-thinking financial institutions like FAB. Thanks to their support we are building a common digital framework for trade finance operations, which will modernize the entire industry and ensure the ongoing availability of liquidity which underpins all global trade.”
With this partnership, FAB delivers on its commitment to building relevant and scalable fintech partnerships that better serve customers.
