Fintech platform seamlessly connects buyers and suppliers to the bank for working capital optimization
New York, NY (May 18, 2022) – Bank of China London Branch, a UK leader in international trade financing for over 90 years, has entered an alliance with fintech technology solutions provider LiquidX for accounts receivable and supply chain finance. LiquidX is providing Bank of China London Branch with a state-of-the-art customized trade finance platform with integrated back-office program administration and built-in distribution capabilities. The partnership enables Bank of China London Branch to provide innovative working capital programs to clients looking to optimize working capital and strengthen supplier relationships.
“Today’s supply chains are under growing pressure and companies are eager for digital solutions that maximize working capital,” said Xun Liu, Head of Transaction Banking Department at Bank of China London Branch. “By choosing the LiquidX solution, which enables a seamless connection between buyers, suppliers, and the bank, we are continuing our long tradition of delivering next-generation services that provide measurable benefits to our clients.”
“We are honored to work with Bank of China London Branch to streamline and expand their AR discounting and supply chain financing programs,” said Jim Toffey, CEO of LiquidX. “As we continue to grow and expand globally, it is exciting to see our solutions being used by China’s most globalized bank and a leader in global trade finance.”
LiquidX fintech solutions, led by its pioneering InBlock technology platform, digitize and automate trade assets across their entire life cycle. LiquidX provides banks and corporates with the flexibility to transact across multiple financial structures directly or within a multi-bank network, all on a single platform that is fully integrated with insurance, risk management, and internal finance systems.
About Bank of China Limited, London Branch
Established in 1929, Bank of China Limited, London Branch was the first overseas Chinese financial institution to open in a global financial center. Over the past 93 years, Bank of China has expanded steadily in the UK and has become the bank of choice for both Chinese ‘going-out’ customers and local UK customers seeking to establish relationships with China, with branches in the City of London, London Chinatown, Manchester, Birmingham, and Glasgow across the UK. It is taking a leading role amongst UK based Chinese financial institutions and is developing itself into one of the mainstream foreign banks in the European market.
LiquidX is a leading global technology company that enables finance professionals to transact faster, smarter, and more cost-effectively by digitizing and automating their trade finance and working capital management. Headquartered in New York with offices in Boston, London, and Singapore, LiquidX delivers the industry-leading ecosystem for working capital assets to its diverse network of global participants including corporations, banks, institutional investors, and insurance providers. LiquidX’s InBlock technology platform incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and forecasting for financial professionals. To learn more about our next generation solutions please visit liquidx.com.