Financial Supply Chain Management is about providing a set of solutions for providing financing to all business entities involved in production of goods and/or products from raw materials stage to end customers. It is seen as a service requirement for corporate due to pressure on cost and working capital efficiency. Pre-Shipment Finance
Pre-Shipment finance or Purchase Order Financing in FinnAxia helps bank to process credit request against POs that have been raised by bank customers by pre-defined Anchor customers. Such dedicated lines are created by bank for use by suppliers of corporates to ensure availability of required credit for fulfillment of orders. The bank defines the tenor of such loans, interest rates to be applied and other associated conditions like maximum permissible finance percentage availability or recourse.
The system enables bank to disburse credit in small packets for specific purpose from a pre-approved credit line. The recovery/normal repayment of the loans processed by the system is linked to events, like:
FinnAxia enables post-Shipment finance in the form of Supplier Finance which includes Invoice Discounting/Factoring. FinnAxia helps bank to process credit request against Invoices through invoice discounting or to purchase receivables of customer against invoices through factoring. Such dedicated lines are created by bank for use by Suppliers to ensure availability of required credit for financing credit period required by credit worthy customers. The bank defines the tenor of such loans, interest rates to be applied and other associated conditions like maximum permissible finance percentage availability or recourse.
FinnAxia enables post-Shipment finance in the form of Buyer Finance which includes Reverse Factoring and Invoice Financing. FinnAxia helps bank to process credit request after invoice due date through invoice financing. FinnAxia also enables early payment of invoices to Supplier through Reverse factoring on Anchor’s approved credit lines.
FinnAxia Global Liquidity Management helps banks enable complete visibility into cash positions for their corporate customers. This results in better utilization of available funds and reduced interest costs through short-term bank borrowings. Liquidity Management helps the bank setup and manage complex cash concentration and pooling structures for automated fund transfer and consolidation within the group.
FinnAxia Mobile Transaction Banking (mTB) is an offering for Additive (existing bank customers) and Transformational (new bank customers) transaction banking services. This banking software offers a wide range of mobile banking services with out of the box features across Payments, Receivables, Liquidity Management and Account services encompassing multi entity, multi-currency transactional banking solution.
FinnAxia Business Internet Banking is a delivery channel for bank’s customers, offering convenience to bank anytime and anywhere. It allows banks to provide easy access to information from multiple back-end systems as relevant data into a single customer view.