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SRL Business Credit has hired Jan Ibey (pictured) as Senior Vice President of ABL Business Lending. In her new role, she will oversee business development by delivering working capital solutions to local companies.
28/07/2023
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Adani New Industries Ltd has raised US$394m (INR 3,231 crore) working capital from Barclays and Deutsche Bank for its integrated solar module manufacturing facility.
28/07/2023
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Triumph, a member of the Triumph Financial, Inc. portfolio of brands and a leading provider of working capital financing solutions to the transportation industry, announced today the appointment of Jason Heilig to the position of chief technology officer (CTO) of its factoring division. He will continue to report to Tim Valdez, president of Triumph’s factoring division.
27/07/2023
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In order to support business development in the Republic of Moldova, maib, a digital local bank, has announced the launch of a new product – domestic factoring - allowing companies to optimise their cash flow and improve liquidity.
27/07/2023
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JLM Global Foods, a Darlington-based food company, has ensured a financial package of £4.37m from Leumi ABL, consisting of invoice finance, plant and machinery finance, inventory finance and a term loan. The Leumi ABL facility comes after the directors of the company injected £1m to support the development of the business.
27/07/2023
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Commerzbank is the first German bank to have completed a blockchain-based Letter of Credit (LC) transaction for its client, Ascentex Exim LLP, a Singapore-based textile trader, on Contour, a digital trade finance platform. The LC was issued for a shipment of rubber threads from Thailand to Krungthai Bank. Contour’s decentralised platform resulted in significant time and cost savings within this process.
26/07/2023
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Uzbekistan has approximately US$1.93bn potential for factoring, according to a release from Trend News Agency.
26/07/2023
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IFC has just announced a new partnership with the Baobab Group, which will further support the provision of financial services to unserved and underserved entrepreneurs, especially micro and small enterprises and women-owned businesses in Burkina Faso, Côte d'Ivoire, Democratic Republic of the Congo, Madagascar, Mali, and Senegal.
26/07/2023
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Sydney-based fintech Lumi has secured AU $15 million in capital funding with Harel Insurance and Finance Group (Harel) signing on as the fintech’s newest investor.
25/07/2023
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At the end of last week, the UK approved the Electronic Trade Documents Act (ETDA), an important step forward in digitalisation of trade processes and facilitation of efficiency and transparency in trade operations. The impact of this law on the future of trade and receivables finance in the UK is underlined below, in comments by industry specialists:
25/07/2023
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Surecomp® today announced a strategic partnership with ICE Digital Trade, formerly known as essDOCS, to drive expanded digital trade finance capabilities for corporates, banks and other financial institutions.
25/07/2023
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Business fraud is globally on the rise. In the UK this has prompted the insurer Allianz Trade to launch a standalone business fraud insurance product. The company says that fraud and cybercrime cost the UK GBP 2.5bn in 2021, with nearly 63,000 reports of fraud by UK businesses.
25/07/2023
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Chaser, a leading provider of intelligent accounts receivables software, has launched a late payment predictor. By leveraging machine learning, the groundbreaking addition to the Chaser application anticipates the likelihood of late payment, empowering users to make smart, proactive decisions about credit control to ensure timely payments and protect their cash flow.
24/07/2023
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Research from Bibby Financial Services (BFS) finds that women SME owners are more likely than men to suffer cashflow challenges, undermining their growth and ambitions.
24/07/2023
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Today, Mastercard announces the launch of Mastercard Receivables Manager, a new, automated solution that streamlines the way businesses accept and process virtual card payments. The innovation complements Mastercard’s virtual card platform as the company provides choice in payments to players across the ecosystem and accelerates the digitisation of B2B transactions across buyers and suppliers
24/07/2023
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