Bank of Montreal selects Demica for Supply chain finance solutions

Maurice Benisty, Chief Commercial Officer of Demica

London based fintech firm Demica, provider of working capital solutions to financial institutions has recently announced its strategic alliance with Bank of Montreal (BMO) to provide Supply Chain Finance solutions for Bank of Montreal’s clients. Demica will be licensing technology platform which can be white labelled as per the company’s credit criteria and will be providing a range of support services including buyer integration and supplier onboarding to BMO.

Maurice Benisty, Chief Commercial Officer of Demica, said; “The alliance with BMO is an important step for Demica, as we grow our business in North America. We have established dedicated local resource to serve BMO and are very focused on delivery for them and their customers.”

Demica currently has over $15bn of Assets under Administration with its global corporate and financial institution clients. This Supply Chain Finance alliance is unique as Bank of Montreal (BMO) is the first North American bank to enter a white label solution provider’s clientele. Through a “SaaS” deployment in the Microsoft Azure environment, Demica will be able to deliver platform solutions which will support BMO’s corporate customers live in a fully white labelled environment.

Demica is a Fintech providing working capital solutions to large corporates and banks with a broad range of receivables, inventory and payables finance products. Demica has been growing steadily at 40% per year, Demica’s platform manages working capital programmes for over 400 corporates with total funded programmes of over $15bn.

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