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Crédit Agricole CIB partners with Demica

Thursday 29 February 2024 10:00 CET | News

Crédit Agricole CIB has launched the new Optim Receivables and Supply Chain Finance (RSF) platform, white-labelled by Demica, a supply chain finance fintech. 

As per the official announcement, this launch is a major milestone towards the bank’s ambition to better deliver client needs through digitalisation. The Optim RSF Platform serves as a means to improve automation and minimise operational risks.  

With this partnership, clients will be able to optimise working capital requirements through the inclusive digital platform and meet their extensive global receivables and supply chain finance needs utilising the platform’s capacity to access financing of invoices in various currencies and in a large volume.

Crédit Agricole CIB has launched the new Optim Receivables and Supply Chain Finance (RSF) platform, white-labelled by Demica, a supply chain finance fintech.

Demica's platform offers a full range of supply chain finance products to banks, who can white label the solution and tailor it to their customer needs. Demica has been in a long-standing partnership with Crédit Agricole CIB and is gearing up for the bank's customers in the Asia-Pacific region to now have access to Receivables and Payables financing solutions all in one environment. 

The press release further states that, implemented in less than a year, the teams have developed direct interfaces between Crédit Agricole CIB’s back office systems and the Demica Platform, including interest and FX rates, bespoke payment interface combined with tailored funding reports. 

About Demica 

Demica is a fintech powering the trade finance programmes of the world’s largest trade banks and corporations. Demica’s proposition is an intuitive, cloud-based platform that enables financial institutions and corporates to automate and scale their working capital solutions. Trusted by global organisations, Demica has USD 28 billion of Assets under Administration, across the full spectrum of working capital products. Funded by a diverse range of banks and institutional investors, these programmes enable companies to strengthen their supply chains and redeploy capital to drive growth. 

About Crédit Agricole CIB 

Crédit Agricole Corporate and Investment Bank is the corporate and investment bank of the Crédit Agricole Group. It helps clients, comprising large corporates and financial institutions, to finance their projects and develop their growth. The Bank provides them with a broad range of products and services in the businesses of capital markets, investment banking, structured financing, commercial banking and international trade. 

Source: Link


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Keywords: supply chain finance, fintech, partnership, product launch, banking
Categories: Banking & Fintech
Companies: Demica
Countries: Asia
This article is part of category

Banking & Fintech

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Demica

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