US Bank has teamed up with trade-finance fintech LiquidX to help speed up and simplify supply-chain transactions between suppliers and buyers.
The partners say that by combining US Bank's balance sheet with LiquidX’s platform technology they can help address supply-chain-finance friction and cash-flow challenges facing many companies.
Suppliers and buyers will be able to connect their supply-chain systems directly to US Bank and transact through LiquidX’s platform. US Bank financing delivered through the collaboration will enable suppliers to be paid nearly immediately and buyers to receive extended payment terms, claim the firms.
“With so many supply-chain challenges for businesses, we want to help make the financing process as smooth as possible,” says Dan Son, US Bank. “This new collaboration will deliver a single intuitive interface that seamlessly connects suppliers, buyers and our bank in the supply-chain ecosystem."