Infor Partners DBS Bank For Digital Trade Financingby Fintech News Singapore July 23, 2020
Infor, a cloud software company, is partnering with DBS Bank to integrate digital trade financing capabilities into the its global network of more than 68,000 businesses.
Their first joint program recently went live with one of the world’s largest global apparel companies, providing faster and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem, which comprises mostly Small-to-Medium-sized Enterprises (SMEs).
Gary Schneider, Vice President of Sales for Infor Financial Supply Chain Management said,
“DBS’ pursuit of digital innovation and delivering greater value to supply chains, combined with our cloud-based platform and local support team around the globe, makes for a powerful partnership at a time when liquidity is a top priority for everyone.”
“We continue to accelerate the deployment of our market-leading supply chain financing and digital capabilities to ensure steady financing to SME suppliers during these times of stress. Our collaboration with Infor enables greater transparency into complex supply chains and provides insights into the transaction patterns between an anchor and its ecosystem of suppliers,”
said Sriram Muthukrishnan, Group Head of Trade Product Management, DBS Bank.
Their next joint program for pre-shipment finance will utilise supply chain data as the primary conduit to assess risk and credit worthiness, as opposed to traditional models that result in the majority of suppliers being under-funded or facing challenges to access necessary capital.
This upcoming collaboration is expected to launch in late 2020.