|[March 01, 2013]
Expanding Supply Chain Finance: Connecting Banks to Opportunities in Asia
MINNEAPOLIS --(Business Wire)--
Banks spend US$630 million globally on supply chain finance (SCF)
systems according to a December 2012 study by Aite Group. In Asia, banks
have a tremendous opportunity to expand their relationships with
corporate and government customers by offering SCF solutions,
particularly for complex spend categories like transportation. SCF
providers, such as Syncada from Visa, offer a global perspective and
substantial expertise in this field.
Technology solutions enable banks to provide corporate customers with
increased accuracy, visibility, and collaboration to the payment
process. Through automation, errors can be reduced, saving customers
both time and money. Delivered as software-as-a-service (SaaS (News - Alert)), Syncada
connects banks, buyers, and suppliers around the world, increasing
productivity through collaboration. With flexible business intelligence
tools, customers can monitor processes for compliance to business
directives, create reports, and analyze results.
"Banks in Asiaare seeking ways to expand relationships with their
customers, and SCF is a rapidly growing opportunity," shares Cedric Bru,
Global Head of Sales, Marketing, and Business Development at Syncada.
"By navigating the inherent complexities of global trade, Syncada
enables banks to offer a proven solution based on industry best
practices to their customers."
To learn more about how Syncada helps banks succeed in SCF, join us at
BAFT-IFSA on March 7 in Hong Kong, or visit http://www.syncada.com/forbanks.aspx.
Syncada from Visa provides a business-to-business network for financial
institutions to enable clients to increase control over their financial
supply chains, regardless of language or currency. Financial
institutions use Syncada to deliver standardized invoice processing and
payment with integrated financing to their corporate and government
clients. Syncada processes invoices for hundreds of buyers and makes
payments to tens of thousands of suppliers in 47 countries. In 2012,
Syncada processed more than US$21 billion in payments and millions of
invoices and trade documents. Visit www.syncada.com
for more information.
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