Only a third of banks have a supply chain finance (SCF) platform. But what does having one mean for your clients and your capabilities?

Key takeaways:

• Customer-facing portals can increase utilisation & revenue

• Automation can streamline processes & reduce errors

• Tailored products can land you more & more profitable clients

More client satisfaction + less frustration 

Does it take your corporate client more than two minutes to submit an invoice and make a funding request? It shouldn’t, and many clients are growing increasingly frustrated at just how painful this process can be. 

As for processing, if it takes over an hour or requires three or more people, you’re losing ground to competitors.

The most frustrating thing about this (for us) is that solutions to both problems are readily available. 

Digital customer-facing portals let your client upload invoices and supporting documentation for funding in seconds – our own banking clients have already increased utilisation and revenue from existing clients as a result. 

Our platform also calculates the relevant fees, charges and dates, and sends the financing request for internal approval. Automatically. 

More accounts + more revenue 

Struggling to win that key account? It’s likely due to one or more of the following factors:

• Too many counterparties with different tenors and currencies you can’t support

• You’re not including enough of their counterparties

• Your offering isn’t differentiated enough

• Your cost of funding isn’t competitive

A strong platform can’t always help you with the cost of funding, but it can with everything else!

Using our “create your own product” feature, you can set up granular limits, pricing and tenors for each counterparty. Every invoice uploaded is then processed automatically, taking into account differences in tenor, currency and pricing.

Instead of standardised products, designed for everyone and no one, you can create truly tailored solutions for key accounts in minutes

You could, for example, offer early payments against invoices to suppliers, while also giving the buyers an extension. The cost can then be automatically split between the two parties, any way you want, in just a few clicks. 

A truly tailored offering is likely to land you that key account. The one that makes up 80% of your yearly target.

But after you land it, you’ll want to scale the facility to its full potential: multiple countries, multiple counterparties, maybe even sister companies. With Finverity, all you have to do is hit the duplicate button.

Is FinverityOS the right platform for you?

Take a closer look at FinverityOS here or book a demo to find out more.