The United States Bank And LiquidX Have Made Supply-Chain Financing Easier And Faster

The United States Bank And LiquidX Have Made Supply-Chain Financing Easier And Faster
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The U.S. Bank said today that it has partnered with trade finance fintech LiquidX to streamline and automate supply-chain operations among suppliers and buyers.

This partnership, which comes when the global supply chain is under unprecedented strain, will combine the bank’s solid balance sheet with LiquidX’s streamlined platform technology to assist companies in managing supply-chain finance friction and cash-flow concerns. Sellers and customers will be able to link their utilities instantly to U.S. Bank and transact using LiquidX’s user-friendly application. Providers will be paid almost instantly, and purchasers will have longer payment terms, thanks to U.S. Bank financing solutions given through this collaboration.

“With several supply-chain problems for firms, we would like to make the financing procedure seamless,” said Dan Son, U.S. Bank’s worldwide trade and supply-chain financing head. “This new partnership will result in a single, user-friendly platform that links providers, buyers, and our bank throughout the supply-chain ecosystem. We can unleash vital operating capital for our clients since we are one of the most reputable banks in the United States, with some of the best debt ratings.”

Also Read: India Reports Record Sale Of Wheat, 1.4 Mln Tonnes, In April Amid Ukraine Crisis 

U.S. Bank and LiquidX have teamed up to improve current supply finance solutions for U.S. Bank customers. The Receivables Acquire Module allows merchants to transform credit sales into instant cash flows, reducing days of sales outstanding while increasing payment terms to purchasers. The Certified Payables Financing Module allows customers to pay suppliers sooner, decreases payment processing expenses, and provides suppliers with more consistent cash flow.

“We’re excited to partner with U.S. Bank, one of the nation’s top and most creative institutions, to bring much-needed liquidity to today’s supply chains,” said Jim Toffey, CEO of LiquidX. “We’re happy that our flexible and scalable technology will make transactions for U.S. Bank and its corporate customers easier, faster, and less expensive.”

Innovative supply-chain financing technologies, according to Son, enable the potential to increase vendor and client contacts, cut costs, and diversify forms of working-capital funding as supply-chain selections become more strategic for firms. Furthermore, supply-chain financing solutions can help companies advance other essential goals, such as ecological, social, and governance (ESG) efforts, by offering financial incentives and increased access to working cash for a large number of suppliers.

Also Read: Lower Petroleum Month On Month Sales In India In April 

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