Both Redington and NBF implemented FinverityOS, a single, unified system that lets banks digitally manage all open account trade finance & SCF products, and corporates easily monitor any programmes they’re participating in. 

The system lets NBF customise funding parameters, workflow processes, and the level of checks and balances within the programme. Unlike traditional platforms, the bank can go deeper in the supply chain, providing financing for different tiers of distributor.

By automating complex, manual processes, NBF and Redington reduce errors, streamline the sharing/processing of trade documents, and the overall transaction timeline. Real-time visibility also gives both sides the confidence all is running smoothly – and total transparency when it isn’t. 

Since implementing the programme, NBF has transformed its working relationship with Redington, from ad-hoc transactions with capped revenue potential to a trusted partnership at the core of a growing distributor programme.

The programme also scored NBF Best Innovation in Trade Finance at the MEA Finance Banking Technology Awards 2023.

For Redington, this embedded financing means channel partners can profit from extended payment terms to comfortably turn stock into cash. This unlocks additional working capital to purchase even more stock from Redington and meet that growing demand for technology in the region.