Finverity and Tesselate Group partner to digitise working capital financing
By Gloria Methri
Finverity, the trade and supply chain finance digital ecosystem, has announced a strategic partnership with Tesselate Group, a provider of adaptable and scalable business systems.
The collaboration enables more banks and NBFIs to fully digitalise their operation using Finverity’s technology, FinverityOS while managing all working capital and supply chain finance products on a single operating system.
Tesselate’s breadth of banking relationships and interoperability combines with Finverity’s technology to create a solution that can be seamlessly integrated.
Digitalising trade and SCF operations promotes innovation and allows banks and NBFIs to increase revenue streams from new and existing clients and streamline operational processes. The partnership comes at an opportune moment for supply chain finance and banks, as demand for this technology has never been higher.
By combining Finverity’s technology and expertise in working capital and supply chain finance products with Tesselate Group’s adaptable business systems, and interoperability layer Hive.t, new systems can be deployed in as little as 30 days. Better equipping banks and NBFIs with a robust and adaptable system in this way enables them to navigate the triple threat of rising interest rates, inflation, and geopolitical uncertainty.
“We are excited to collaborate with Finverity to provide businesses with a transformative solution for working capital management,” said Said Guida, Managing Partner at Tesselate Group. “This collaboration not only enhances operational efficiency but also empowers businesses to diversify their product offerings and drive revenue growth.”
“Speed to market and time of implementation have become key decision-making factors for Banks when choosing a technology partner. Our solution in collaboration with Tesselate allows Banks and NBFIs to access fully integrated, world-class SCF solutions in record time. We are incredibly excited for what’s ahead!” said Alex Fenechiu, COO and co-founder, Finverity.
IBSi Daily News Analysis
February 26, 2024
Digital Supply Chain Finance
UAE banking pulse: robust growth and profitability signal positive outlookRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage