CredAble, a working capital technology platform, announced a collaboration with Finastra, a global provider of financial software applications and markets, to enhance the capabilities of Finastra Trade Innovation. CredAble’s feature-rich platform has now been incorporated into the solution, giving new and existing customers a full supply chain finance offering. As a result, banks can raise revenue growth, speed up business expansion, and improve customer satisfaction by providing corporates with a broader choice of financial services through a single platform.
“In today’s tough economic climate, it is more important than ever that corporates optimize their working capital and maintain real-time liquidity for long-term growth,” said Satyam Agrawal, Global Head of Product & MD ASEAN & ME at CredAble. “By combining our AI-powered supply chain finance platform with Finastra’s leading trade finance solution and global reach, we are delivering a holistic, front-to-back trade and supply chain finance offering to more banks worldwide. This enables them to broaden and enhance their operations to facilitate business growth, while ensuring the services they offer continue to meet the demands of corporates today.”
Trade Innovation is a trade services platform that employs straight-through processing, digitalisation, and data analytics to enable intelligent trade for growth while also evolving to meet compliance, customer, and competitive expectations. CredAble is a working capital platform that enables banks to offer comprehensive supply chain finance solutions, service a wide range of large and small and medium-sized (SME) firms, and generate attractive revenue opportunities. The collaboration brings together best-in-class features to create an upgraded, end-to-end service for trade and supply chain financing.
Also read: CredAble Unveils Revolving Short-Term Loans Within MSME Lending Vertical
“To facilitate truly innovative, relevant and open trade finance services, our partner ecosystem plays an important role,” said Anastasia McAlpine, Head of Product for Trade and Supply Chain Finance at Finastra. “By augmenting the functionality of Trade Innovation with CredAble’s feature-rich supply chain finance offering, we are giving our current and future customers access to a wider array of services that allow them to meet the growing needs of their customers. The partnership ensures institutions can continue to innovate at speed, decrease time to value and utilize 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. It’s another example of how Finastra is harnessing the power of open finance and APIs to build powerful ecosystems that deliver additional value”
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