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Bank of America has seen the adoption and use of its CashPro App for corporate payment approvals accelerate significantly over the last couple of years. Corporate payment approvals completed via the CashPro App surpassed a record US$500bn as of the middle of this year – up nearly 40 per cent compared to the middle of last year – and are on pace to reach a trillion dollars by the end of 2024.
26/07/2024
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With the evolution of technology, the landscape of receivables financing has undergone significant transformation, emphasising the pivotal role of automation in streamlining processes and boosting productivity.
26/07/2024
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Here is the next in my series on how AI and Gen AI are being utilised in the work force today. Number 7 case of the ten is Strategic Planning and in this short article I will look at the most common case uses of discipline.These are the top ten case uses of AI and Gen AI that I uncovered in my recent research in the Project Management discipline. The next case use I will discuss will be number 7 case, Strategic Planning.
26/07/2024
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Time Finance is announcing the launch of a new 12-month Fast Track Graduate Recruitment Programme, which will commence from mid August.
26/07/2024
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Exciting rebrand announcement: trfnews becomes BCR News on July 30thBCR is excited to announce that on July 30th, trfnews is rebranding to BCR News.The new website will feature an upgraded interface with improved visibility and navigation. For over 20 years, BCR has been recognised by international factoring and receivables finance professionals for its relevance, integrity, and accuracy.
26/07/2024
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Aura, a fintech company specialised in invoice finance solutions for SME cash flow, has signed a Memorandum of Understanding (MOU) with Reem Finance, a leading UAE-based financial institution, in order to expand Aura's SME financing platform within the UAE market.
25/07/2024
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Specialist asset-based lender Ultimate Finance reports it has secured £370m in wholesale funding for the next three years, a combination of new and extended facilities. The news follows the recent announcement of its highest ever six-month period for new business origination and unwavering commitment to supporting UK SMEs with access to much needed cashflow and investment capital.
25/07/2024
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Trade credit insurer Atradius comments ahead of next week’s interest rates announcement with many anticipating that the Bank of England’s rate setters could finally vote to make a cut and give businesses and consumers some relief.James Burgess (pictured), head of commercial and insolvency expert at Atradius UK, says:
25/07/2024
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The Liberis Group, one of the leading global embedded receivables finance platforms, announced their launch into the German market through Liberis Debt Fund GmbH & Co. KG represented by Liberis Debt Fund Management GmbH with Nexi, the leading PayTech company in the European market. Nexi Financing, powered by Liberis, will provide 120,000 merchants with the flexible funding options they need to maintain and grow their businesses.
25/07/2024
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nFusion Capital Finance, LLC, a leading commercial finance company to entrepreneurs, today announced that it has closed and funded a line of credit agented by Synovus Bank, through its Specialty Finance Division, for US$75m. This new facility will allow nFusion Capital to continue its exponential growth.TAB Bank and Zions Bank, nFusion’s previous senior lenders, joined Synovus as co-lenders in the new credit facility. In 2023, nFusion announced that it had doubled the size of its line of credit with TAB and Zions but quickly outgrew the facility.
24/07/2024
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SME working capital provider TRIVER and procurement platform Elcom have announced a new service, enabling small businesses supplying the public sector to be paid instantly, whenever they wish. The launch precedes the implementation of the Procurement Act this October, which aims to help SMEs secure a greater share of approximately £300bn of public sector expenditure per year. The move to help SMEs get paid faster is intended to unleash their potential to tender for more public sector contracts.
24/07/2024
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European investor Pollen Street Capital invests €35m in alternative lender Finbee Verslui. This investment will enable more than 1,500 businesses to be financed faster and on more favorable terms than before.Lending faster and on better terms
24/07/2024
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Trinseo PLC (Trinseo), a specialty material solutions provider, recently announced that a special purpose finance entity, Styron Receivables Funding Designated Activity Company, has entered into a US$150m non-recourse financing facility with credit funds and accounts managed by KKR, a leading global investment firm. The facility, which is collateralised by trade receivables originated by Trinseo and its subsidiaries, replaces a prior financing facility of the same size that matures in November 2025.
24/07/2024
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U.S. Bank has introduced a comprehensive accounts receivable (AR) platform to help suppliers accelerate cash flow, cut costs through automation and deliver better payment experiences. Created in partnership with Billtrust, U.S. Bank Advanced Receivables brings together the bank’s leading payment and risk management capabilities with Billtrust’s top AR technology to improve the intricate business-to-business (B2B) receivables process.
24/07/2024
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Tradewind Finance, an international trade finance firm specialising in cash flow solutions that enable business growth and seamless cross-border trade, is expanding its footprint in Mexico with two new hires. The company’s growing team in the region comes at a time when Mexico has become a major trading partner for countries including the United States, making trade finance an attractive tool for facilitating export and import transactions.
24/07/2024
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