The bank has invested £3m in TradeLedger
- Barclays has also committed to implement its working capital platform under a three-year technology deal
- The platform will be used to provide end-to-end credit management automation for Barclays Corporate clients
- Trade Ledger’s platform will automatically generate a survey and risk report which is then sent to underwriters rapidly
What does this mean?
James Binns, global head of trade and working capital at Barclays, says: “Businesses need access to reliable, flexible finance now more than ever. Investing in and implementing the Trade Ledger Platform will allow us to make lending decisions faster and more efficiently, using real-time data drawn from a rich variety of sources, and powerful workflows. This drives faster time-to-money, reducing the cost of funding in supply chains, which has huge benefits for our corporate banking clients and the communities they support.”