Bank of China Limited, London Branch Teams with LiquidX for Digital Trade Finance

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.

About LiquidX
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.

 

U.S. Bank, LiquidX collaborate to simplify, accelerate supply-chain financing

Integrated solution will unlock valuable working capital while helping to speed transactions and reduce borrowing costs

MINNEAPOLIS (May 10, 2022) – U.S. Bank announced today that it has entered into a collaboration agreement with trade-finance fintech LiquidX to help expedite and simplify supply-chain transactions between suppliers and buyers.

This collaboration – which comes at a time of unparalleled stress in the global supply chain – will pair the bank’s strong balance sheet with LiquidX’s streamlined platform technology to help address supply-chain- finance friction and cash-flow challenges facing many companies. Suppliers and buyers will be able to connect their supply-chain systems directly to U.S. Bank and transact through LiquidX’s easy-to-use platform. U.S. Bank financing solutions delivered through this collaboration will enable suppliers to be paid nearly immediately and buyers to receive extended payment terms.

“With so many supply-chain challenges for businesses, we want to help make the financing process as smooth as possible,” said Dan Son, who oversees global trade and supply-chain finance at U.S. Bank. “This new collaboration will deliver a single intuitive interface that seamlessly connects suppliers, buyers and our bank in the supply-chain ecosystem. As one of the most trusted banks in the U.S., with some of the highest debt ratings, we can unlock valuable working capital for our clients.”

The collaboration between U.S. Bank and LiquidX enhances existing supply-chain finance solutions currently available to U.S. Bank clients. The Receivables Purchase Program allows sellers to convert credit sales to immediate cash flows and reduce days sales outstanding while extending payment terms for buyers. The Approved Payables Financing Program helps buyers pay suppliers early, reduces payment-processing costs, and gives suppliers faster and more predictable access to cash.

“We are thrilled to enter this collaboration with U.S. Bank, one of the country’s largest and most innovative banks, to deliver much-needed liquidity to today’s supply chains,” said Jim Toffey, CEO of LiquidX. “We are proud that our scalable and flexible technology will make it easier, faster, and cheaper for U.S. Bank and its corporate clients to transact.”

As supply-chain decisions become strategically critical for businesses, Son said, innovative supply-chain- finance solutions provide opportunities to strengthen vendor and client relationships, reduce costs, and diversify sources of working-capital funding. In addition, supply-chain finance solutions can advance other important company priorities, such as Environmental, Social and Governance (ESG) initiatives by providing financial incentives and greater access to working capital for diverse suppliers.

About U.S. Bank
U.S. Bancorp, with approximately 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.