Crédit Agricole CIB taps Demica to launch new receivables and supply chain platform for APAC
Crédit Agricole Corporate and Investment Bank (CIB) has partnered with UK-based fintech Demica to launch a new receivables and supply chain finance (RSF) platform to appease “the increasing demand for supply chain finance” in APAC.
Crédit Agricole CIB launches RSF platform for APAC
Crédit Agricole CIB has tapped Demica to utilise its white-labelled supply chain finance offering, which the duo say was implemented in “less than a year”.
The platform’s receivables and payables financing solutions are powered through connectivity with the bank’s back office systems, with its payments interface supporting features including interest and foreign exchange (FX) rates and funding reports, among others.
The bank says its new Optim RSF platform will enable its clients in the region to “optimise working capital requirements” by affording them access to invoice financing for both large volume and multi-currency transactions.
The partnership has connected the bank’s clients in APAC to “supply chain finance services with security and simplicity”, according to Matthieu Lerebours, global head of products and structuring, RSF at Crédit Agricole CIB.
Lerebours adds the offering will enable clients to meet their working capital needs and access payables and receivables financing solutions “within the same platform”, adding that the integration benefits from “straight-through processing to facilitate large volumes”.
