U.S. Bank is to work with SCF platform provider LiquidX to offer supplier finance to the bank's corporate clients.
The collaboration will see suppliers and buyers able to connect their supply-chain systems directly to U.S. Bank and transact through LiquidX’s platform. Suppliers can then be paid nearly immediately and buyers may 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, head of global banking division 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.'