Finverity partners with Ebury in supply chain payments market
The provision of trade finance technology solutions is heating up. UK-based cross-border finance platform Finverity has teamed up with Ebury to provide supply chain finance solutions in the emerging markets. This week, Barclaycard also launched its solution, Barclaycard Payment Intelligence (BPI), which is a data analytics platform related to supply chains. As the liquidity problem has risen amid the Covid-19 pandemic, the supply chain finance market is gaining attraction.
Both Finverity and Ebury have integrated their respective platforms via application programming interfaces (API). Last year, in August, Standard Chartered partnered with SAP Ariba to make the bank’s financial supply chain solutions accessible to businesses in the Asia Pacific region through Ariba Network.
Finverity says this linkup would help businesses in emerging markets who are looking to access supply chain finance deals while Ebury would help to reduce the risk of exposure related to currencies.
According to the press release, this will make it easier for buyers in EM markets to launch their own supply chain programme without having any worry about their working capital or payment infrastructure. This will also help suppliers to sell their outstanding invoices with early access to payments.
Ebury payments is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. Earlier this year, Santander bought a 50.1% share in Ebury.