GT Nexus, the world’s largest cloud-based supply chain finance provider, has teamed up with Sampath Bank, Sri Lanka’s third largest, to help local suppliers embrace the digital era and to become more competitive in their dealings with global clients.
The partnership will provide cloud-based technology “To equip Sri Lankan exporters with a constant stream of real-time trade information across multiple supply chain functions,” said Shashi Kandambi Jassim, Sampath Bank’s senior deputy general manager for corporate banking.
The partnership may enable exporters to get access to capital as early as the issuance of a purchase order.
GT Nexus president Kurt Cavano said: “The combination of network connectivity, cloud technology and multi-party visibility enables a transformation in the way supplier funding is delivered. Suppliers can access funding when they need it. This is essential to ensuring the health and strength of today’s complex global supply chains.”