Demica has been highly commended in the SCF innovation category for its FCIreverse solution developed in collaboration with FCI that supports the more seamless on-boarding of suppliers in more than 90 countries.
FCI is global organisation for receivables financing and factoring companies. It wanted to offer members the ability to do cross-border supplier on-boarding, and selected Demica as its partner to develop such a solution.
FCIreverse aims to overcome the challenges associated with supplier onboarding across global supply chains. Banks which offer SCF often struggle to onboard their clients’ suppliers in overseas markets due to language issues, legal requirements and KYC.
FCIreverse offers a way of tackling these issues through allowing FCI members in different markets to undertake supplier onboarding for other members.
