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Aldermore has appointed Nicola Bonini as Business Development Manager for Invoice Finance and Nick Holmes as complex and asset based lending (ABL) Product Manager within its Business Finance division. Their appointments will help strengthen Aldermore’s ABL team, helping more businesses unlock finance and accelerate their growth.
18/04/2024
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Indian non-banking financial company (NBFC) Vivriti Capital, a specialist financier, has provided INR 400m (US$4.8m) receivables finance solution to Source.One, a polymer procurement tech company.
18/04/2024
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Marking a significant milestone, TuranBank OJSC, Azerbaijan has entered into a pivotal agreement with the Asian Development Bank (ADB) to finance international trade operations.Within the framework of the new agreement, ADB approved a trade financing guarantee limit by including TuranBank OJSC in the "Trade and Supply Chain Financing Programme" (TSCFP). This agreement will allow the country to expand import-export operations and support customers' trade operations.
18/04/2024
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Enrique Rico is the new Global Head of Trade and Working Capital Solutions of Santander. The new appointment follows the last month’s promotion of Mencía Bobo. Rico will report directly to Mencía Bobo.
18/04/2024
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TradeSun and Wells Fargo have entered into an agreement that will enable Wells Fargo to leverage the industry leading trade finance and compliance digitisation solution from TradeSun, using Artificial Intelligence (AI) and other advanced technologies to streamline the complex and manual processes employed globally within the banking industry.“We are designing and delivering innovative products to serve our clients in a more streamlined way across all channels”
17/04/2024
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Time Finance is announcing Jason Poxon as Business Development Manager in its invoice finance team. Jason joins with 10 years of experience in the financial services industry having held a position with Bibby Financial Services as a Business Development Executive, and prior to that, with Lloyds Banking Group as Client Liaison Executive. His new role with Time Finance will see him responsible for building new business relationships with intermediaries and SMEs alike across the East Midlands region.
17/04/2024
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Finastra today announced that it has integrated AI-powered ESG (environmental, social and governance) scoring capabilities into its working capital solution, Trade Innovation. The integration, with CoriolisESG by TradeSun, enables users to book and manage trade and supply chain finance with the added benefit of automated insights into ESG scoring. This results in greater understanding of the sustainability of trade and helps organisations to better monitor and manage their impact.
17/04/2024
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Surecomp® has announced a strategic partnership with Cleareye.ai Inc., a leading provider of digital trade finance solutions providing automation of trade compliance and operations.Both firms are acutely aware of the challenges faced by their customers engaged in complex and time-consuming cross border trade. This is confounded by increasingly complex regulatory requirements such as the monitoring of trade-based money laundering (TBML) putting a strain on operational capacity and rising costs.
17/04/2024
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The Economic Secretary to the Treasury, Bim Afolami MP, has announced a new industry-led taskforce, to be chaired by the Centre for Finance, Innovation and Technology (CFIT), that will endeavour to unlock the full potential of Open Finance.
16/04/2024
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First National Bank (FNB) has introduced a system-based tool to help SMEs to easily access credit without the hassle of financial statement and documentations.
16/04/2024
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Africa is at the forefront of digital transformation, and the region's banking industry is a hotspot for innovative solutions to existing problems. Veefin, a global leader in Digital Lending & Supply Chain Finance, has partnered with Computech Limited, a major systems integrator in East Africa, to provide digital lending and supply chain financing solutions for financial institutions in the country.
16/04/2024
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Lloyds Bank has completed its first transaction using an electronic Bill of Lading (eBL) on the WaveBL trade documentation platform, in a cross-border deal that featured entirely digital exchanges of documentation.
16/04/2024
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Citigroup appoints Shane Azzara as the successor to Shapleigh Smith as head of asset-based and transitional finance. Smith is set to retire in May, as reported by Bloomberg. Azzara, who has been with Citi for almost three decades and was promoted to managing director in 2017, has played a key role in guiding the ABTF team's restructuring and bankruptcy financing initiatives, as noted in an internal memo seen by Bloomberg.
16/04/2024
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Barclays spearheads Series B funding for Funding Xchange (FXE), a leading provider of white-label software designed for SME lenders.
16/04/2024
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Australian lender Bizcap is set to launch in the UK, aiming to empower small businesses by swiftly providing them with the necessary funds. Unlike traditional lenders, Bizcap's lending decisions are not solely based on conventional benchmarks like credit scores and existing debt.
16/04/2024
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