Karnataka Bank has partnered with CredAble to launch its first fully digital Supply Chain Finance (SCF) platform, strengthening its digital transformation strategy and expanding technology-driven working capital financing for MSMEs.
With a legacy of more than 100 years, over 14 million customers, and a network of more than 950 branches, Karnataka Bank plans to use the platform to improve credit access for corporate anchors and their dealer and supplier networks. The bank also aims to double its supply chain finance portfolio during the current financial year through this partnership.
The digital platform will support the entire supply chain finance process, including programme setup, participant onboarding, transaction processing, monitoring, and reporting. It also offers workflow-based approvals, digital documentation, real-time transaction visibility, portfolio monitoring, audit trails, and management information system (MIS) reporting.
According to the companies, the platform is expected to reduce turnaround time by 40%, enable 3 times faster supplier onboarding, minimise manual intervention, and support same-day transaction processing.
“At Karnataka Bank, our focus is on delivering innovative, technology-led banking solutions that create lasting value for our customers. By combining our trusted banking expertise with CredAble’s advanced technology platform, we aim to provide seamless and efficient access to working capital for corporates, MSMEs, dealers and suppliers across the value chain. This collaboration reinforces our commitment to strengthening the MSME ecosystem, enhancing customer experience and building a future-ready banking franchise,” said Raghavendra Srinivas Bhat, MD & CEO, Karnataka Bank.
“Digital supply chain finance is becoming an important growth lever for banks as they look to serve corporates and their MSME ecosystems with greater speed, visibility and scale. Our partnership with Karnataka Bank is focused on enabling a more seamless working capital financing experience across the value chain and supporting the Bank’s ambition to scale its SCF business through a digital, controlled and data-led operating model,” said Ashutosh Taparia, CEO – Fintech Business, CredAble.
The partnership comes as India’s MSME sector continues to strengthen its role in global supply chains, with digital supply chain finance playing an increasingly important role in improving liquidity, accelerating credit delivery, and supporting business growth.
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