SAN FRANCISCO - Tuesday, 05. December 2023
(BUSINESS WIRE)--Taulia, a leading provider of working capital management solutions, today announced it has added the Bank of China London Branch, and BNP Paribas to its global multi-funder network.
The addition of the two major global banks is the most recent in an already large and growing network of funders available to Taulia’s global customers, enabling businesses to access an increasingly broad and diverse funding pool, with greater choice, liquidity, and availability of capital.
Multifunder models within supply chain finance programs are designed to provide resilience through diversification and a wider pool of funding for different currencies, geographies, client sizes, and credit profiles. Combined with the right technology, it also enables businesses to hedge against liquidity risk, particularly during periods of economic uncertainty.
Cedric Bru, CEO, Taulia, comments: “Adding Bank of China and BNP Paribas to the Taulia multi-funder network is an enormous achievement, and we are delighted to work with them. These agreements mark a significant step in fulfilling Taulia’s mission to enable businesses to unlock the liquidity trapped in supply chains, help them grow and navigate ever-changing market conditions.”
Xun Liu, Head of Transaction Banking Department, Bank of China Limited, London Branch comments: “This partnership is an important and forward-moving step to enhance Supply Chain Finance solutions in Bank of China London Branch. By teaming up with Taulia, we are positioning ourselves as leaders in offering modern and efficient solutions that will facilitate corporates and growth in trade. Taulia's expertise in technology and supply chain financing arrangements combined with the bank's extensive resources and practices will undoubtedly help companies manage their cash flow more effectively.”
Bruno Lechevalier, Head of EMEA Working Capital, BNP Paribas, comments: “Through its fully integrated solution with SAP, Taulia brings a strong added value to corporates supporting them to optimize their working capital and securitizing their supply chain network. In the frame of serving our common clients in the best way, we are delighted to announce that we are now part of Taulia’s Funder network offering various working capital solutions.”
About Taulia
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. Taulia's platform and network of more than 3 million businesses enables customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. For more information, please visit www.taulia.com.
About Bank of China Limited London Branch
Established in 1929, Bank of China Limited London Branch is the first ever overseas Chinese financial institution in global financial centers. Its history in the UK perfectly illustrates the international journey of China’s modern financial services industry.
Over the past 94 years, Bank of China London Branch has expanded steadily in the UK and has become the first choice for both Chinese ‘going-out’ customers and local UK customers seeking to establish relationships with China, with branches in the City of London, London Chinatown, Manchester, Birmingham, and Glasgow across the UK. It is taking a leading role amongst UK based Chinese financial institutions and is developing itself into one of the mainstream foreign banks in the European market. Bank of China London Branch will continue to act as an active and influential member in the local community, as well as a golden bridge of the China-UK relations.
Bank of China is a leader in trade finance business globally. Our capability is due to the bank’s large asset size, wide global network, very strong Asia coverage, decent risk appetite, very strong balance sheet, product expert capabilities, wide range of customer base, very competitive pricing, fast processing turn-around time and a diverse trade product offering.
As China’s most globalized bank, Bank of China has a well-established global service network with institutions set up across 62 countries and regions. It has established an integrated service-platform with a comprehensive range of financial services. It provides financial support for approximately a quarter of international trade enterprises in China.
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231205451172/en/
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