KARACHI: With the aim to digitize the loan application process for small and medium-sized enterprises (SMEs) in Pakistan, JS Bank has joined forces with Adal Fintech to introduce a digital lending solution to provide credit facilities to SMEs and offer a seamless process for loan applications.

The collaboration aims to create a platform that addresses the challenges faced by SMEs when obtaining loans. The Digital Lending Solution will integrate with JS Bank’s mobile application and core banking solution to automate the complete lending lifecycle from origination to liquidation.

Basir Shamsie, President and CEO, JS Bank, commented on the initiative; “This collaboration is a step in the direction towards our vision to leveraging modern technology into the daily banking operations. With this initiative, we hope to revolutionize credit access to SMEs in the country and create a product that’s efficient and scalable.”

The platform will have features such as loan product definition and configuration, integration with external systems such as Nadra, ECIB, and an embedded rules engine for defining and maintaining credit parameters on a per-product basis.

JS Bank and Adal Fintech aim to develop a highly scalable and high-quality lending process and solution for SMEs. With this partnership, they hope to significantly expand the pool of lending prospects and reach out to currently unbanked SMEs.