BMO and Demica form strategic alliance
Demica, a provider of working capital solutions, has announced its strategic alliance with Bank of Montreal (BMO) to provide supply chain finance solutions for its clients. Demica will license its technology platform on a white label basis, providing a range of support services including buyer integration and supplier onboarding to BMO.
Demica says it currently has over US$15bn of assets under administration with its global corporate and financial institution clients. The company says that this particular supply chain finance alliance is unique in that BMO is the first North American bank to enter into a white label solution with Demica. Through a SaaS deployment in the Microsoft Azure environment, the vendor is able to deliver platform solutions and the product support required to take BMO’s corporate customers live in a fully white-labelled environment.