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.