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JPMorgan and OmniLatam partner for lending solutions in LATAM

Friday 3 June 2022 15:41 CET | News

US-based investment bank and financial services holding JPMorgan Chase has announced a new partnership with fintech OmniLatam to extend credit lines to mid-sized and small suppliers of big corporations in Latin America.

OmniLatam currently operates in Colombia and Chile and has recently opened its first office in Brazil, providing receivable-backed credit and working capital lines to suppliers who work with JPMorgan’s clients in the region.

The benefit for suppliers will include lower costs to discount their receivables when interest rates are increasing, while corporations can ensure financial stability for their suppliers by minimising the pressure for raising prices. 

The bank expects to retain 100% of the credit extended through the partnership, while its current supply chain finance assets should double in the first two years of the partnership. At the same time, OmniLatam plans to offer additional capital products related to accounts receivable and payable and is also exploring the opportunity to launch new products in partnership with JPMorgan.

 


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Keywords: partnership, merchants, accounts payable, accounts receivable, supply chain finance, supplier onboarding
Categories: Banking & Fintech
Companies: JPMorgan Chase, OmniLatam
Countries: Latin America
This article is part of category

Banking & Fintech

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JPMorgan Chase

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OmniLatam

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