StanChart seeks supply chain finesse with Linklogis
Standard Chartered has signed a memorandum of understanding (MoU) with Linklogis seeking to enhance its supply chain financing proposition and client relationships in China.
Simon Cooper, CEO of corporate, commercial and institutional banking, Standard Chartered; and Charles Song, chairman and CEO of Linklogi.
The bank seeks to use Linklogis’ capabilities around digital blockchain applied on supply chain financing to support its global banking and commercial banking clients in China.
This aims to provide large buyers with more transparency on the supply chain, and offers small and medium-sized suppliers cheaper access to credit.
Charles Song, chairman and CEO of Linklogis, says: “With the collaboration … we strive to build a revolutionary and innovative technological application that will solve the fundamental funding problems faced by SMEs.”
Both parties will also explore other areas for cooperation, such as improving the bank’s client onboarding turnaround time through the digitisation of manual processes and enhancing its risk management approach with Linklogis’ data and analytics capabilities.
Linklogis focuses on business-to-business focused independent supply chain platform in China. It aims to accelerate and develop new growth engines, including cross-border solutions for businesses importing into, and exporting out of, China.
