Supply chain trade finance
PrimaDollar’s supply chain trade finance platform has been selected by Raiffeisen Bank International as one of two finalists in its global fintech competition. The competition attracted entrants from more than 20 countries – and leads to a partnership program with the bank for the winning products and teams.
See more about our platform: supply chain trade finance.
Raiffeisen Bank International
Raiffeisen Bank is one of the leading bank groups operating across Austria, Central and Eastern Europe and into the CIS. It has 47,000 employees and over 16 million customers.
The fintech competition: Elevator Lab
The bank set up the Elevator Lab as a way to introduce innovative new products and relationships to the bank.
The three month competition focusses on:
- market potential and scalability of a solution across the CEE region
- current fit of the solution to the bank and to clients
- path to profit for the bank (ie: the use case)
Why has PrimaDollar been selected?
Our supply chain trade finance platform has impressed the judging panel and the team of mentors, especially since the platform can be implemented without a major IT project – and can generate a high return on regulatory capital for the bank immediately from the start.
Large corporates are very interested in rolling supply chain finance out to their exporting suppliers.
Here are some key facts from a PwC survey of corporate treasurers and CFOs:
- Only 15% of suppliers are currently eligible for supply chain finance programs
- 84% of CFOs said they wanted to expand their supply chain finance program
- 72% of supply chain finance programs served less than 100 suppliers
Our platform delivers:
- All the benefits of supply chain finance
- to the excluded suppliers on terms that they need
- with all the reach and scope of existing trade finance products
This is the biggest innovation in supply chain finance since the technology was first invented over 20 years ago.
Where does this all lead?
The Elevator Lab process has been excellent – bringing together subject matter experts from across the bank to challenge our platform and its suitability for clients and the bank. This includes a full spectrum of individuals from working capital solutions, trade finance, technology, and senior positions in the bank. We have participated in an in-depth review of all the major discussion points – and we have built relationships that can now drive profitable new business going forward both for us and for the bank.
With this kind of process, there are only winners.
How can I find out more?
With a global network and global coverage, talk to us.