FinTech CredAble has joined hands with HSBC India to enhance liquidity within corporate supply chains.
The partnership will help catering to the supply chain finance offerings in maintaining sync with the growing requirements of Corporate India and also solve liquidity concerns of SME/MSME sector in India, especially during the COVID-19 pandemic, when enterprises are under great pressure.
As a part of the alliance, the strong capital base of HSBC India and technology prowess of CredAble will penetrate deep and fast into Supply Chain Finance Programs to enable liquidity to vendor ecosystems and credit to small businesses in India.
Nirav Choksi, Co-founder & CEO, CredAble, said, “We are proud and honored to have been selected to collaborate with HSBC India in a journey to create a unique solution to solve the working capital gap in India. HSBC India has been a front runner in Supply Chain Finance innovation as an industry leader and CredAble has been at the forefront structuring innovative and technology led solutions for Supply Chain and working capital financings.”
While explaining how thisunique collaboration is pivoting to address bank-agnostic platform, Choksi added, “This collaboration is a leading industry movement where the bank is undertaking platform risk by working closely with us, in spite of having own proprietary platform, thereby keeping customer at the heart of the solution enabling stability of a large MNC bank and nimbleness of a leading Fintech player”