Connect with us

NEWS

Tungsten Network to collaborate with BNP Paribas in offering e-invoicing linked Receivables & Supply Chain financing solutions to large corporates

Tungsten Network will collaborate with BNP Paribas to offer e-invoicing linked Receivables Purchase and e-invoicing linked Supply Chain Finance (e-SCF) to large corporates in the USA and Canada.

Through this collaboration, BNP Paribas and Tungsten Network will have the opportunity to use their combined strengths to originate and leverage innovation in the FinTech space. This means that large corporates will now be able to receive an alternative working capital solution through the same technology provider they use for e-invoicing and accounts receivable activities.

Prabhat Vira, President, Tungsten Network Finance, said: “This is a breakthrough for the industry. By linking e-invoicing with supply chain and receivables purchase, we are in a position to offer a one-stop solution that brings together process efficiency and working capital optimization.

“We are excited to be working with BNP Paribas, a hugely successful, global Trade Finance bank and are pleased to say that we already have e-invoicing linked Receivables Purchase transactions under execution.”

Rolando Perez-Elorza, Head of Global Trade Solutions, Americas, BNP Paribas states: “We appreciate the value of collaborating with technology procure-to-pay providers like Tungsten Network to collectively build solutions that are meaningful for clients and leverage the capabilities and expertise of all parties.”

Prabhat Vira continues: “We are pleased to be at the vanguard of what looks like a broader industry trend that is bringing fintechs and banks together to drive innovation and offer value-added alternatives to customers. This collaboration supports Tungsten Network’s strategy of offering greater value to all customers transacting on the network.”

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Recent Posts