FAB partners with LiquidX Trade Finance Platform
NEW YORK, 25 July 2022 : LiquidX, a global leader in working capital, trade finance and insurance technology, today announced it has partnered with First Abu Dhabi Bank (FAB) to further expand its global funder network.
LiquidX provides a blockchain-based, multi-bank platform that delivers supply chain financing solutions to corporates in the US, Europe, and Asia. By collaborating with FAB, the largest bank in the United Arab Emirates and one of the world’s largest and safest financial institutions, LiquidX will significantly broaden its connectivity into the Middle East and North Africa markets, while also extending across FAB’s international network. FAB will leverage the company’s state-of-the-art trade and working capital technology platform to accelerate and streamline its Global Transaction Banking capabilities across receivables finance and payables finance, expediting the bank’s supply chain financing rollout across international locations.
Sanjay Sethi, Head of Global Transaction Banking at FAB, said: “As part of our strategy to support trade and investment flows in the MENA region and globally, FAB is sourcing and applying the best in fintech innovation to enhance our trade finance capabilities, as well as identifying opportunities to better serve our corporate and multinational clients. By partnering with LiquidX, we will be able to mobilise comprehensive working capital solutions to clients faster and more efficiently, particularly in unlocking financing solutions to clients in the United States and Europe.”
“We welcome First Abu Dhabi Bank to LiquidX,” said Jim Toffey, CEO of LiquidX. “We are very pleased that our next-generation technology is enabling FAB’s global locations to improve and expand their trade finance capabilities, either as lead investor or distribution partner.”
LiquidX’s best-in-class portfolio of technology solutions enable its clients to overcome the barriers imposed by manual processes and outdated legacy technologies. The company provides integrated or stand-alone tools for digitizing, automating, and optimizing working capital and trade finance management, with seamless integration of trade credit insurance protection. More than 60 banks, asset managers, and other financial institutions actively manage their funding using LiquidX’s robust trade finance technology.