Standard Chartered, which provides working capital finance solutions, and Taulia have signed a memorandum of understanding (MoU) to work together on a number of working capital finance solutions, with an initial focus on supply chain finance and dynamic discounting.
As a result of the agreement, both parties will be able to offer solutions for supply chain finance and dynamic discounting. This will be made possible by Taulia’s industry-leading front-end platform and deeply integrated technology. The collaboration will help clients make their supply chains more stable and long-lasting by making it easier and cheaper for their suppliers to get access to working capital. This will be done by using Standard Chartered’s strengths, such as its global presence, especially in emerging markets, its expertise in trade finance, and its close relationships with clients.
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In addition, as part of the alliance, Standard Chartered and Taulia will collaborate to broaden the availability of their working capital finance solutions to new and existing client networks. This will be very helpful for multinational companies that need help and direction on both a global and a regional scale. This will be strengthened even more by SAP’s recent purchase of Taulia, opening up more opportunities across SAP’s growing ecosystem to give buyers and sellers a different experience.
What are they saying?
Commenting on the partnership, Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team, said, “We are proud to announce the signing of the MoU with Standard Chartered, and this marks another milestone in Taulia’s journey to grow our bank network and work closely with our partners to deliver working capital solutions for all of our clients.” The MoU was signed by Taulia and Standard Chartered so that the two companies could work together in a way that was good for both of them. We think all CFOs should focus on their cash strategy to ensure growth in these uncertain times. Our partnership with Standard Chartered will make sure that cash is available when and where it’s needed, especially in emerging markets.
Kai Fehr, Global Head of Trade & Working Capital at Standard Chartered, said, “Making sure our clients are managing their working capital well is one of our top priorities to make sure their businesses grow in a sustainable way.” “This is especially important given the complexity and challenges that today’s supply chains face,” Fehr added. “We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs and extend the bank’s leading sustainable trade expertise into their business network.”
We look forward to collaborating with Taulia in this endeavour. Taulia’s reach is also similar to that of the bank, which gives us more chances to help Western companies with the flow of their supply chains into Asia, Africa, and the Middle East.
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About Taulia and Standard Chartered
Taulia is a fintech company that offers dynamic discounting and supply chain financing. Taulia has multiple locations across the United States and the United Kingdom, Germany, Bulgaria, China, Singapore, and Australia, in addition to its headquarters in San Francisco.
Standard Chartered Plc provides its customers with personal, business, and treasury services for institutions and businesses. Despite being headquartered in the United Kingdom, it does not engage in retail banking there; instead, roughly 90% of its profits come from markets in Asia, Africa, and the Middle East.