Barclays Partners with Trade Ledger to Revolutionize Working Capital Finance for Corporate Clients

Barclays Partners with Trade Ledger to Revolutionize Working Capital Finance for Corporate Clients

(IN BRIEF) Barclays has announced its investment in Trade Ledger’s working capital orchestration platform, aiming to enhance its working capital finance solutions for corporate clients globally. The partnership will bring industry-leading credit management automation and end-to-end solutions to Barclays Corporate clients, providing convenient and quick access to working capital. By leveraging API-driven SaaS technology, the platform will streamline client onboarding and loan management processes, eliminating manual tasks and enabling real-time data integration. This collaboration marks a significant step towards innovation in the working capital finance industry, empowering businesses to unlock cash flow and drive growth.

(PRESS RELEASE) LONDON, 26-May-2023 — /EuropaWire/ — Barclays (LON: BARC), a British multinational universal bank, is proud to announce its strategic investment in Trade Ledger’s cutting-edge working capital orchestration platform, aimed at revolutionizing its working capital finance solutions for corporate clients in the UK and worldwide.

Recognizing the importance of working capital finance solutions such as Invoice Discounting, Asset Based Lending, and Selected Debtor Finance for businesses and lenders alike, Barclays has taken a proactive step towards transforming this sector. Traditionally, the working capital finance industry has experienced limited innovation over the past few decades, resulting in restricted access to much-needed financing during periods of growth and economic downturns.

By leveraging the advanced capabilities of the Trade Ledger platform, Barclays aims to empower its clients with streamlined access to working capital, facilitating improved cash flow management. Through the implementation of API-driven SaaS technology, Barclays will deliver a client-centric onboarding and loan management experience, eliminating cumbersome manual processes and providing real-time data integration, including direct access to a client’s accounting platform.

The collaboration between Barclays and Trade Ledger is poised to redefine the landscape of working capital finance by harnessing the power of automation and data-driven insights. Clients can expect enhanced efficiency, transparency, and convenience throughout their credit management journey, unlocking valuable opportunities for growth and expansion.

Barclays and Trade Ledger will work closely to integrate the platform seamlessly into Barclays’ existing infrastructure, ensuring a smooth transition for clients and maximizing the platform’s impact. This collaborative effort signifies a significant milestone for both organizations and marks a new era in working capital finance.

James Binns, Global Head of Trade and Working Capital at Barclays, said: “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.”

Martin McCann, CEO and co-founder of Trade Ledger, said: “Our common mission to create a world where every business gets the capital it needs to thrive, is key to our strong working partnership with Barclays. We are delighted that Barclays Bank has chosen Trade Ledger to support its offering to business borrowers, and that it has the confidence in our business vision to make this investment. Our history with Barclays goes back to 2018 when we won the Barclays Open Innovation Challenge and, from then on, we have worked with the bank’s leadership team to identify areas of the bank where our technology could be applied to deliver transformational value to the bank’s lending processes.”

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SOURCE: Barclays


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