Priya Patel
TLDR:
- Crédit Agricole CIB launched a new receivables and supply chain finance platform in the Asia-Pacific region.
- The platform is powered by Demica’s white-label, cloud-based platform to offer working capital solutions.
Crédit Agricole CIB has partnered with Demica to launch a new receivables and supply chain finance platform in the Asia-Pacific region. The Optim Receivables and Supply Chain Finance platform allows clients to access financing of invoices in various currencies and large volumes. The direct interfaces between Demica’s platform and Crédit Agricole CIB’s back-office systems were implemented in less than a year. This partnership aligns with Crédit Agricole CIB’s strategy to leverage the FinTech ecosystem and offer value-added services to clients in unlocking working capital in their supply chain across the region.
In a similar move, FinTech platform Xalts recently acquired the Contour Network from global banks to enhance digitization in trade and supply chain finance. This reflects a growing trend in the industry as more financial institutions and corporations embrace digital solutions to streamline financing processes. Additionally, supply chain FinTech company Twinco Capital secured a significant facility to assist small to medium-sized businesses in accessing trade finance in emerging markets.
Overall, the collaboration between Crédit Agricole CIB and Demica represents a significant advancement in the supply chain finance space, offering innovative solutions to meet the evolving needs of businesses in the region and beyond.
