Singapore – Standard Chartered today announced the signing of a memorandum of understanding (MOU) with Linklogis to explore opportunities to enhance its supply chain financing proposition and deepen client relationships in China. The strategic partnership reflects both parties’ ongoing commitment to the sustainable growth of China’s economy and support for its financial reform and innovation.
The Bank will leverage Linklogis’ strengths as a digital blockchain-enabled supply chain financing platform to deliver a distinct offering for its global banking and commercial banking clients in China. This provides large buyers with superior transparency on their entire chain of suppliers, and offers small and medium-sized suppliers cheaper and privileged access to credit. Both parties will also explore other areas for cooperation, such as improving the Bank’s client onboarding turnaround time through the digitisation of manual processes and enhancing its risk management approach with Linklogis’ data and analytics capabilities.
Since its inception in 2016, Linklogis has grown exponentially and is now one of China’s largest business-to-business focused independent supply chain platform. Supported by the Bank’s vast network and footprint, Linklogis aims to accelerate and develop new growth engines, including cross-border solutions for businesses importing into, and exporting out of, China.
Simon Cooper, CEO of Corporate, Commercial and Institutional Banking at Standard Chartered said: “As a leading international bank with more than 160 years of ongoing operations in China, we are well-positioned to play the role of a trusted banking partner by connecting our clients multilaterally and providing them with faster and more convenient access to financing solutions. We are delighted to partner with Linklogis and explore potential opportunities for the co-creation of innovative client offerings to further grow our presence in China.”
Charles Song, Chairman & CEO of Linklogis said: “It has always been our mission as a fintech company to create the most professional and best in class supply chain financing platform with the most advanced technology to enhance the financing solutions for our clients. Today, with the collaboration and partnership with leading financial institution Standard Chartered Bank, we strive to build a revolutionary and innovative technological application that will solve the fundamental funding problems faced by SMEs.”
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