(5 August 2024 – United Kingdom) British headquartered fintech Finastra has joined online working capital finance platform provider CredAble to expand banks’ ability to offer supply chain finance.
The tie-up enables Finastra’s corporate clients to submit invoices through a CredAble interface within the platform, allowing for real-time risk and limit management, transaction financing and settlement and counterparty onboarding.
The invoices will then be analysed and processed through Finastra’s Trade Innovation software, which calculates fees, interest and executes limit checks. Finastra’s bank partners will be able to provide supply chain finance based on the invoices.
“In today’s tough economic climate, it is more important than ever that corporates optimise their working capital and maintain real-time liquidity for long-term growth” said CredAble Global Head of Product & Retail Business Lending, MD ASEAN & ME, Satyam Agrawal.
“To facilitate truly innovative, relevant and open trade finance services, our partner ecosystem plays an important role. The partnership ensures institutions can continue to innovate at speed, decrease time to value and utilise data for decision making across the whole of their working capital and supply chain finance portfolio, ultimately supporting increased growth for both their business and that of their customers” stated Finastra Head of Product Management for Trade and Supply Chain Finance, Anastasia McAlpine.