ANZ and Taulia Partner on Working Capital
(31 May 2023 – Australia) US fintech, Taulia, and Melbourne-headquartered ANZ Bank, have announced a strategic partnership aimed at delivering improved working capital solutions to support the resilience and sustainability of global supply chains.
The partners are working to deliver improved working capital and supply chain finance solutions to clients by the end of 2023.
The pair have signed an agreement to provide ANZ clients with supply chain finance and dynamic discounting capabilities, to equip them with the flexibility necessary to adapt to the current macro environment.
The partners plan to roll out expanded working capital capabilities via Taulia’s Cloud Platform, before the end of the year.
“We believe technological advancements, especially in the treasury space, could help make a difference in how businesses and supply chains operate and may help mitigate some of the macro uncertainty for global businesses on near real-time basis,” Alan Huse, head of Product Management for Transaction Banking at ANZ, told CorporateTreasurer.
Steve Scott, head of Asia Pacific at Taulia, said that access to liquidity becomes more challenging for businesses operating in a high interest rate environment. “For smaller businesses, this means that essential activities become harder, including procurement of raw materials.”
Huse shared that the bank recently conducted a Request for Proposal (RFP) to explore how best to enhance the platform experience offered to its customers.
“As part of a recent review of the bank’s trade business, the ANZ team identified an opportunity to invest in our complete supply chain offering.”
“Taulia was chosen for a range of reasons, including its user interface and platform flexibility,” he said, adding that the organisations are aligned on a cultural level and share similar strategic objectives.
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