Deutsche Bank launches online trade financing
Deutsche Bank launched SupplierFinance, a db financial supply chain
solution, which is a fully automated online trade payable financing
solution that combines superior trade and cash management capabilities
in Sri Lanka.
As part of Deutsche Bank's suite of Global Transaction Banking
solutions, SupplierFinance is the first joint electronic solution
offered by its cash management and trade finance businesses.
The service allows clients to better manage electronic payments to
suppliers through eBills, the Bank's innovative and secure business to
business (B2B) electronic platform.
With SupplierFinance, corporates in Sri Lanka can offer their
suppliers access to financing at attractive rates. The service enables
corporates in Sri Lanka to implement payment terms that match their
underlying cash flows, which allows for more efficient management of
their working capital requirements.
As all payments through SupplierFinance are transmitted
electronically, it also provides suppliers with online access to
discount receivables.
Ultimately, this enables suppliers with the capability to actively
manage their cash flows and monitor their receivables.
Deutsche Bank's Trade Finance and Cash Management Corporates Head
Thushy David said: "Deutsche Bank's SupplierFinance is an innovative
solution that significantly enhances corporates' financial supply chain
efficiency and ability to provide local suppliers with access to
financing at attractive rates.
The launch of SupplierFinance in Sri Lanka is testimony to the Bank's
ability to leverage on its global suite of products and services to
strengthen its local capabilities and enable the success of our
clients."
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