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Credit Agricole CIB has launched a new accounts receivable and supply chain finance platform in Asia Pacific.
the bank is new Optimize accounts receivable and supply chain finance The platform is powered by Demica‘s white-label, cloud-based platform helps financial institutions and businesses provide working capital solutions, the companies said in a press release on Tuesday (February 27).
“We are excited about this new partnership with Demika.” Laurent PlettierreCrédit Agricole CIB’s Asia-Pacific International Trade Bank Head said in a statement. “This is consistent with our strategy to leverage the fintech ecosystem to develop our value proposition and continue to support our clients in unlocking working capital tied to supply chains across the region. It helps.”
The new service will enable Crédit Agricole CIB customers in Asia Pacific to access bulk invoice financing in a variety of currencies using a digital platform, according to the release.
Demica’s platform provides banks with a wide range of supply chain finance products and can customize solutions to meet customer needs, the release said.
According to the release, the direct interface between Demica’s platform and Crédit Agricole CIB’s back-office systems was implemented within a year. These include interest and foreign exchange rates, payment interfaces, and funding reports.
“We now look forward to expanding our partnership to other products and regions.” Maurice BenistiDemika’s Chief Commercial Officer said in a release.
Another development in this area is the FinTech platform Salz The acquisition was announced on February 20th. contour network From a consortium of global banks, we aim to accelerate digitalization in trade and trade. supply chain finance.
The acquisition combines Xalts’ expertise in digital financial applications with Contour’s established network connecting banks and businesses around the world.
In October, supply chain fintech companies Twinco Capital Secured an additional EUR 50 million (approximately $53 million) with the banking sector BBVA Spark Supporting access for small and medium-sized businesses (SMBs) in emerging countries trade finance.
Twinco works with large companies, primarily in the retail and apparel sectors, and provides financing to suppliers around the world.
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