UniCredit select US FinTech Taulia to boost working capital solutions

Source: IBS Intelligence 2020-06-17

Pan-European commercial bank, UniCredit announced a partnership with San-Francisco-based FinTech Taulia in a bid to develop and enhance its working capital solutions. The partnership is expected to boost UniCredit’s existing supply chain finance platform and allow for simplified integration into corporates’ enterprise resource planning (ERP) systems.

Luca Corsini, UniCredit’s Co-Head of Global Transaction Banking

Luca Corsini, UniCredit’s Co-Head of Global Transaction Banking, said, “We are delighted to be partnering with Taulia, with this initiative coming at a timely juncture. Supply chain resilience and working capital optimisation have become increasingly critical topics for many corporates in recent months, with more and more treasurers looking to execute their processes remotely. As ever, we remain fully committed to developing innovative and efficient solutions for our clients.”

According to UniCredit, its clients will be enabled to alternate between bank-funded (supply chain finance) and self-funded (dynamic discounting) early payment programmes. Taulia’s platform will allow corporates to build supply chains through the provision of working capital stability and supplier transparency. The partnership aims to assist businesses in improving their capital allocation and efficiency across supply chains while managing balance sheets and day-to-day liquidity.

“We are eager to work with UniCredit to extend Taulia’s offering across Europe to help clients digitise and free up working capital. We believe our partnership will make an immediate difference to corporates’ ability to manage liquidity in uncertain times,” added Michael Rieskamp, Managing Director EMEA, Taulia.

FinTech Taulia provides digital supply chain solutions for buyers and suppliers, including supply chain finance, cash forecasting, electronic invoicing, and dynamic discounting.

Recently, London-based digital banking technology provider, Meniga entered into a partnership with banking and financial services company, UniCredit with an intent to launch an enhanced version of Smart Banking app in the Czech Republic.

UniCredit

Taulia

UniCredit select US FinTech Taulia to boost working capital solutions

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