Digital trade finance solutions provider Surecomp announced yesterday it would partner with Finverity, a London-based supply chain finance technology firm, to provide banks and financial institutions with fully integrated, end-to-end trade and supply chain finance processing.
The partnership combines Finverity’s FinverityOS™ system, which provides customisable supply chain finance products to local and regional banks, with Surecomp’s existing trade finance solutions.
Through the partnership, banks that are currently using Surecomp solutions such as DOKA-NG™ or RIVO™ will be able to launch, manage, and scale working capital finance programs through a single interface integrated with their existing documentary trade finance business.
“Trade finance instruments are being […] less and less demanded for because they’re complex and the digital transformation isn’t moving fast enough for corporates. So there is a constant and growing demand for open account finances,” Enno-Burghard Weitzel, Surecomp’s Chief Solution Officer, told Trade Finance Global (TFG).
Open accounts finance provides real-time liquidity for firms and is easier for banks to offer, especially amid the current shortage of documentary finance experts. By diversifying their portfolios, banks can offer clients a range of working capital solutions all in one place – which is made much easier by Surecomp and Finverity’s new partnership.
“Together with Surecomp, we can support a broader ecosystem of buyers and suppliers, enabling greater financial stability and supply chain resilience,” said Alex Fenechiu, Co-founder & CRO of Finverity. Amid the current geopolitical and policy uncertainty, firms of all sizes are looking to maintain resilience by increasing liquidity.
However, rising costs due to tariffs may be putting a strain on working capital, with a recent EY survey finding 42% of CEOs are absorbing additional costs by reducing internal expenses and scaling back on investment.
In these conditions, open accounts solutions, which offer flexible liquidity management and longer payment terms, can be a crucial way for firms to keep their heads above water. In response to this demand, banks are integrating trade and supply chain finance solutions into their broader ecosystem, supported by technology providers like Surecomp and Finverity.
Surecomp and Finverity’s collaboration will also leverage AI to help customers understand the documents they are looking at and their key features.
“We have a range of AI agents that are designed to increase the user experience: it starts with helping the user to understand the nature of an instrument, all the way to creating a default template for such an instrument,” said Weitzel.
“We are heading towards a tectonic shift in the industry where there will be a fundamental, stronger demand for open account transactions as compared to documentary trade finance transactions,” he continued. By providing both documentary and open accounts finance in one streamlined ecosystem, the new partnership is likely to anticipate a broader trend of finance solutions providers collaborating with banks to simplify customer experience and expand access to finance.
