RMB partners Finverity to digitise trade finance across Africa

By Milan Rojan

RMB has partnered with UK-based Finverity to digitise and expand its open account trade finance and working capital finance offering across Africa through a cloud-based platform.

Viacheslav Oganezov, CEO of Finverity, said: “RMB represents Finverity’s largest implementation in Africa to date and an important milestone for our business on the continent… This partnership will enable RMB to offer truly flexible, seamless and scalable working capital solutions to customers, big and small, across its entire African footprint.”

Under the agreement, Finverity’s white-labelled platform has been deployed across RMB’s African footprint, enabling corporate clients to access a range of working capital finance products through a single digital platform.

The platform has supported reverse factoring, receivables finance, distributor finance and purchase order finance. RMB said the investment has responded to growing demand for structured working capital solutions delivered through a seamless digital experience as businesses across Africa navigate longer payment cycles, supply chain complexity and liquidity pressures.

Louis du Plessis, TTS Trade and Working Capital Head at RMB, said: “We want to give clients a simpler and more efficient digital system for working capital finance. Clients will be able to access the platform from across RMB’s African footprint and benefit from a digital experience that is faster, more secure and gives them better visibility of their transactional data.”

The partnership has formed part of RMB’s broader trade technology roadmap. The bank has implemented Surecomp’s platform for traditional trade finance, while Finverity will support its open account and working capital finance business. The platforms are expected to be integrated over time to provide an end-to-end trade and working capital proposition.