Source: Gresham Computing
Gresham Computing, the real-time financial solutions specialist, today announced a landmark deal with Credit-IQ Limited, Europe's leading provider of accounting data extraction technology to meet the dynamic growth in demand for supply chain financing.
The result, Clareti Payables Financing, is an out of the box complete solution to electronic factoring, receivables purchasing and inventory financing. It enables a bank to access the granular information necessary to deliver electronic trade finance solutions. With better access to corporate data, it enables better credit decisions, faster.
At its heart, the solution dynamically extracts core accounting information from buyers and suppliers using Credit-IQ's OSMO technology and populates Gresham's advanced Clareti Payables Financing solution.
Andrew Walton-Green, CEO of Gresham Computing plc, explained: "The electronic supply chain finance market is in its infancy but will become mainstream virtually overnight due to huge demand from companies of all credit ratings. Our technology, when linked to banks with a expertise in trade finance, provides an unparalleled and rapidly deployable payments platform and information service to deliver trade finance solutions."
Credit-IQ's CEO, Oliver Chadwick, said of the new partnership: "Clareti Payables Financing and Credit-IQ provide the back bone much in the same way that Apple's mini Mac technology is 'BYODKM' (Bring Your Own Display, Keyboard and Mouse). With this approach, it's 'BYOM' (Bring Your Own Money) - and we'll supply the rest.
While global supply chain financing can be complex due to the legal and regulatory issues, in many areas the roads are well worn. The ability to quickly enter this market with tried and tested technology enables a bank to respond to the rapidly changing trade finance markets. Project initiation is measured in weeks, not months."