NEWS
Tungsten Network to collaborate with BNP Paribas in offering e-invoicing linked Receivables & Supply Chain financing solutions to large corporates
Published On :
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.”
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
-
-
Uncategorized3 days ago
Swedish government commission recommends easing mortgage repayment rules
-
-
-
NEWS3 days ago
Ryanair H1 profit falls 18% on lower fares, but price weakness moderating
-
-
-
NEWS3 days ago
German companies’ hiring plans drop to four-year low, Ifo finds
-
-
-
BUSINESS3 days ago
Burberry shares jump on Moncler bid report
-