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StanChart Taps Demica for Digital Supplier Finance Portal

StanChart Taps Demica for Digital Supplier Finance Portal

(12 October 2021 – Singapore) Standard Chartered is partnering with Demica, a fintech specialising in working capital solutions, to enable easier enrolment of suppliers on the bank’s supplier finance programmes through an online portal.

The new portal will change how suppliers enrol in supply chain finance programmes by using a digital front-end while providing the bank’s enrolment team with intuitive dashboards for monitoring and sending updates to anchor companies.

The online onboarding will be delivered via Demica’s cloud-hosted working capital platform.

“We’ve seen a double-digit percentage increase in demand for our supplier finance programmes and the new portal will not only speed up the enrolment process for suppliers, but also allow us to serve more companies as they engage in digital-first trade within and beyond borders,” said Standard Chartered Transaction Banking Global Head of Open Account – Trade Product Management Michael Sugirin.

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