HPD LendScape, a leading international secured lending platform vendor, announced it has partnered with Emirates Development Bank (EDB) to launch UAE’s National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic.
SCF solutions enable suppliers to gain quicker access to money they are owed, while buyers get more time to pay off their balances and the new platform will offer a simple, fast and transparent way for bank lenders to onboard both buyers and suppliers. The initial phase of the project offering a payables finance solution has now gone live. The next phase is set to provide a comprehensive suite of buyer and supplier centric SFC variations, including Islamic Finance products.
Bringing together buyers, suppliers and banks onto one platform, the National Supply Chain Finance solution helps simplify and automate operations, mitigate risk more effectively and make SME finance easily accessible – much needed in the UAE today.