Supply chain management platform GT Nexus has entered into a partnership with HSBC to provide supply chain finance programmes for the bank’s US clients.
Earlier this year, HSBC signed a similar deal with Tradeshift. Vinay Mendonca, HSB’s global head of product and propositions, global trade and receivables finance, told GTR that “in essence” the GT Nexus and Tradeshift platforms are “fairly similar in terms of what they look to achieve for their clients”, although there are some differences in functionality and the sectors and client profiles they target.
“Large clients may work with a couple of different providers in this space, like Tradeshift or GT Nexus. It is a client decision which platform they use. We want to make sure that we, through strategic partnerships, are there to support them and their suppliers as they get onto these platforms,” Mendonca said.