Unilever chooses HSBC for SCF digitalisation

Wednesday 5 May 2021 14:28 CET | News

HSBC and Unilever Bangladesh have conducted their first transaction using an electronic supply chain finance platform of the lender.  

The automated solution offers working capital to Unilever Bangladesh and its supplier network, enabling end-to-end invoice digitalisation from approval to crediting accounts, as the press release says.

The proposition is said to be small-to-medium-enterprise (SME) friendly as suppliers do not need to set up a credit limit, or need to change their current banking providers. It is also stated to provide ‘a single point of truth’ when managing data and supports all parties to save time, reduce manual errors, and provide quick and timely updates when conducting business.

HSBC says it processes over USD 1 million worth of trade turnover every minute, delivered through technology and platforms necessary to help manage risks, process transactions, and fund activities, making it easier for businesses to connect to new markets and trade partners around the world.

More: Link

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Keywords: partnership, supply chain finance, e-invoicing, SMEs, banks
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech