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Receivables finance has been identified as a tool to help SMEs to gain access to working capital finance and a growing business area for financial institutions. However, according to a study undertaken by McKinsey, receivables finance is still often manual and fragmented. In another study by the ICC global trade finance survey, 60% of banks do not have receivables finance or SCF platform. Lack of an e-platform has been identified as a key challenge in this business.
Investment cost in software and hardware as well as in manpower have deterred banks or non-deposit-taking players from developing internal e-platforms. Fortunately, with the advent of technology, this need not be the case. Through this webinar, you will be able to find out how you can leapfrog into the new technology and leverage the state-of-the-art digital platform without incurring major initial capital outlays by using cloud solutions, usage-based services, etc.
