Infor and DBS Bank Partner to Integrate Digital Trade Financing into Global Supply Chains
Infor is partnering with DBS Bank, Southeast Asia’s largest bank, to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses. Per the press release, the two companies’ first joint program recently went live with one of the world’s largest global apparel companies, providing faster and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem, which comprises mostly small-to-medium-sized enterprises (SMEs). Gary Schneider, VP of sales for Infor Financial Supply Chain Management, comments, “This is an important relationship for Infor, where a common vision of data-driven financing bonds us and presses us forward. DBS is a digital bank focused on supplier funding and liquidity. Its pursuit of digital innovation and delivering greater value to supply chains, combined with our cloud-based platform and local support team around the globe, makes for a powerful partnership at a time when liquidity is a top priority for everyone.” The two companies’ next joint program for pre-shipment finance, expected to launch in late 2020, will utilize supply chain data as the primary conduit to assess risk and credit worthiness, as opposed to traditional models that result in the majority of suppliers being underfunded or facing challenges to access necessary capital.
