Simon Cooper, CEO of Corporate, Commercial and Institutional Banking at Standard Chartered

Standard Chartered has announced the signing of a Memorandum of Understanding (MoU) with Linklogis, a China-based supply chain financing service provider. The agreement was done in order to explore opportunities to enhance Linklogis’ supply chain financing proposition and deepen client relationships in China.

The MoU allows the bank to leverage Linklogis’ strengths as a digital blockchain-enabled supply chain financing platform to deliver a distinct offering for its global banking and Chinese commercial banking clients. This step is bound to profit both parties, i.e. the large buyers with superior transparency on their supplier chain and the smaller/mid-sized banks with better and cheaper access to credit.

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.”

Recently, the bank was reportedly expanding its digital banking markets in the African regions of Tanzania, Ghana, Uganda and Kenya.

Established in 2016 in China, Linklogis business-to-business focused independent supply chain platform. Supported by the Standard Chartered’s 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.

by Megha Bhattacharya
Market Analyst at IBS Intelligence