Search
DBS Bank, Infor Nexus launch pre-shipment financing solution
August 21, 2023
DBS Bank in collaboration with supply chain platform Infor Nexus on Friday announced the launch of a pre-shipment financing solution for SMEs part of the Infor Nexus supply chain ecosystem. The solution leverages historical data from the Infor Nexus platform to provide data-based lending for SME suppliers to meet their working capital requirements.
“While post-shipment financing solutions already exist in the market, pre-shipment financing is a game changer as it allows suppliers to use their enhanced cashflows to fulfil orders before goods are delivered to buyers,” a company statement said.
DBS Bank and Infor Nexus together so far offered early payments to the suppliers on a post-shipment basis. The bank will use alternative supply chain data, such as historical and real-time milestone information on the physical movement of goods from the Infor Nexus platform.
Divyesh Dalal, MD and Head, Global Transaction Services, DBS Bank India said, “The innovative e2e working capital finance offering will not only address the manufacturer’s cashflow needs to produce goods (per PO) but also enable them to collect export proceeds in a timely and cost-effective manner through a trusted partner – Infor Nexus. The availability of Purchase Order finance fulfils a long unmet need of the SME/MSME manufacturer.”
The trade financing solution is extended to SMEs primarily in the apparel, footwear and textile industries, which are major growth sectors for the economy. As part of the Infor Nexus ecosystem, DBS Bank will underwrite the trade financing facility applications of prospective SME suppliers.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/