back Back

Endorse introduces digital supply chain finance platform developed by Prime FinTech

By Pavithra R

July 06, 2021

  • Africa
  • Endorse
Share

Endorse introduces digital supply chain finance platform developed by Prime FinTech
Mervat Erian, Chief Executive Officer at Endorse

Endorse, a non-banking financing services company, has announced the launch of the first-of-its-kind Supply Chain Finance digital platform which digitizes factoring operations in a way that saves time and follow up, available to institutions who conduct factoring activities.

The launch is a new step for Endorse to establish its presence in the fintech field using the digital platform developed by Prime FinTech to manage Supply Chain Finance operations as part of its factoring proposition to the Egyptian business sector. According to the announcement, the move makes the firm the first to launch this digital service which is intended to be in line with the country’s direction of higher reliance on technology and reducing cash transactions; replacing them with e-payment.

Mervat Erian, Chief Executive Officer at Endorse explained that factoring services are considered among the most useful financing options for the business sector, since it offers companies and institutions the ability to sell their bill receivables to a “factor”, in this case, Endorse, at a discount. Endorse then becomes responsible for fulfilling the payment collection directly with buyers.

Supply Chain Finance solutions, introduced by Endorse and developed by Prime FinTech, offer several features including a digital end-to-end invoice management system that connects supplier/buyer/factoring company. This facilitates the entire invoicing process digitally, saving time and effort. The solution also maintains a strong supplier-buyer relationship through its faster payment process. From the buyer’s perspective, supply chain finance offsets pressure on cash flow, and enables increasing purchase volumes without being tied up financially.

“It is among our main priorities to introduce digital financing solutions to the business sector and we look forward to introducing more such solutions that will reduce burdens and unlock growth potential,” said Erian.

Previous Article

July 06, 2021

Barclays UK bans transactions to crypto platform Binance due to FCA rules

Read More
Next Article

July 06, 2021

Amazon Pay ICICI Bank credit card on-boards over two million customers

Read More










IBSi Daily News Analysis

December 06, 2022

Africa

Why SMBs can’t switch payment providers despite desire  

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ontop selects ThetaRay’s SONAR AML solution to detect financial crime threats

Read More

Today

Wizz Air forms payments partnership with Worldline

Read More

Today

Ajman Bank announces strategic partnership with KMMRCE Pay

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022