Emirates NBD launches digital supply chain financing platform

Publish October 7, 2020
banking

smartSCF platform caters to the growing need for digitisation of supply chain management and financing.

Emirates NBD has launched a digital supply chain financing platform for its corporate and institutional clientele. The bank's smartSCF platform will offer businesses in the UAE a set of integrated, automated tools designed to enhance and simplify their supply chain collaborations while optimising working capital and reducing transaction costs. The platform enables clients to benefit from improved cash flow efficiencies while their suppliers benefit from early payment of their invoices, without the need for collateral and at competitive rates.

The smartSCF platform has been designed to help increase operational efficiencies for both corporate clients and their suppliers. Suppliers can seamlessly self-on-board via the digital supplier on-boarding toolkit, the first of its kind in the region. Furthermore, smartSCF has enhanced data analytics tools such as interactive dashboards and customised reports which helps clients gain visibility on the program from supplier on boarding to payment and reconciliation as well as their cashflows.

Emirates NBD's smartSCF platform caters to the growing need for digitisation of supply chain management and financing, which has emerged as one of the key priorities for corporate clients across industries.

Ahmed Al Qassim, senior executive vice-president and group head, corporate & institutional banking at Emirates NBD said: 'As the country's preferred corporate bank, we have gained in reputation as trusted providers of smart, innovative solutions that enhance the ease of doing business and support the UAE's drive towards digitisation in all aspects of business. Our digital supply chain finance platform delivers on our commitment of enabling opportunities for corporate clients while optimising their working capital. We are pleased to offer businesses in the UAE a seamless, secure platform that offers them complete transaction visibility and payment flexibility, while enhancing their suppliers' liquidity.'

zawya

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