The financial services giant, Standard Chartered, has signed a MOU with Linklogis, a Chinese supplier of supply chain finance services.
In accordance with the agreement, Standard Chartered will use Linklogis supply chain financing platform to expand financing proposals and deepen customer relationships in China.
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Standard Chartered said it is committed to providing a great deal to its customers around the world and commercial banks in China. Using Linklogis platform, it will provide large buyers with greater transparency in all supplier chains, and small and medium-sized suppliers with cheaper and privileged access to credit.
"Today, through collaboration and partnership with Standard Chartered Bank, a leading financial institution, we are striving to create a revolutionary and innovative technology application that solves the fundamental financing problems that many faces", said Charles Song, chairman and chief executive officer of Linklogis.
Other areas of cooperation
According to the official report, the companies also plan to explore other areas of cooperation, such as improving the processing time of the bank's client part by digitizing manual processes and expanding its approach to risk management with the help of Linklogis data and analytical capabilities.
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Simon Cooper, general manager of corporate, commercial and institutional banking operations at Standard Chartered, said: "As a leading international bank with more than 160 years of continuous operations in China, we have every opportunity to play the role of a reliable banking partner, connecting our customers on a multilateral basis and giving them faster and more convenient access to financial solutions (...) We are pleased to work with Linklogis and explore the potential for co-creating innovative customer offerings for further expansion in China."
Editor: Yuliya Soroka