MINNEAPOLIS--(BUSINESS WIRE)--Banks spend US$630 million globally on supply chain finance (SCF) systems according to a December 2012 study by Aite Group. In Asia, banks have a tremendous opportunity to expand their relationships with corporate and government customers by offering SCF solutions, particularly for complex spend categories like transportation. SCF providers, such as Syncada from Visa, offer a global perspective and substantial expertise in this field.
Technology solutions enable banks to provide corporate customers with increased accuracy, visibility, and collaboration to the payment process. Through automation, errors can be reduced, saving customers both time and money. Delivered as software-as-a-service (SaaS), Syncada connects banks, buyers, and suppliers around the world, increasing productivity through collaboration. With flexible business intelligence tools, customers can monitor processes for compliance to business directives, create reports, and analyze results.
“Banks in Asia are seeking ways to expand relationships with their customers, and SCF is a rapidly growing opportunity,” shares Cedric Bru, Global Head of Sales, Marketing, and Business Development at Syncada. “By navigating the inherent complexities of global trade, Syncada enables banks to offer a proven solution based on industry best practices to their customers.”
To learn more about how Syncada helps banks succeed in SCF, join us at BAFT-IFSA on March 7 in Hong Kong, or visit http://www.syncada.com/forbanks.aspx.
About Syncada
Syncada from Visa provides a business-to-business network for financial institutions to enable clients to increase control over their financial supply chains, regardless of language or currency. Financial institutions use Syncada to deliver standardized invoice processing and payment with integrated financing to their corporate and government clients. Syncada processes invoices for hundreds of buyers and makes payments to tens of thousands of suppliers in 47 countries. In 2012, Syncada processed more than US$21 billion in payments and millions of invoices and trade documents. Visit www.syncada.com for more information.