PR86034

LONDON, Oct. 13, 2020 /PRNewswire=KYODO JBN/--

HPD LendScape, a leading international secured lending platform vendor, today

announces it has partnered with Emirates Development Bank (EDB) to launch UAE's

National Supply Chain Finance (SCF) platform, giving UAE businesses improved

access to working capital, particularly as they cope with the added pressures

of the COVID-19 pandemic.

SCF solutions enable suppliers to gain quicker access to money they are owed,

while buyers get more time to pay off their balances and the new platform will

offer a simple, fast and transparent way for bank lenders to onboard both

buyers and suppliers. The initial phase of the project offering a payables

finance solution has now gone live. The next phase is set to provide a

comprehensive suite of buyer and supplier centric SFC variations, including

Islamic Finance products.

Bringing together buyers, suppliers and banks onto one platform, the National

Supply Chain Finance solution helps simplify and automate operations, mitigate

risk more effectively and make SME finance easily accessible - much needed in

the UAE today.

Claudia Perri, Regional Commercial Director Southern EMEA for HPD LendScape,

commented: "We are delighted to announce this new partnership with Emirates

Development Bank and launch the National Supply Chain Finance platform. Through

this platform, UAE banks and other lenders have the opportunity to help

businesses optimise supply chains, improve working capital and streamline their

operations - never more critical than during the pandemic."

Faisal Aqil Al Bastaki, Chief Executive Officer of EDB, said: "With SME's

facing an unprecedented challenge, accessing efficient finance is vital. In our

role as the UAE's development bank, EDB is filling the gap and has launched a

first class National Supply Chain Finance Platform, powered by one of the best

names in the business, HPD LendScape. Such a sophisticated and digitally

enhanced SCF platform is a crucial resource to any well-functioning economy;

lenders and buyers should take advantage of it to ensure that SMEs continue to

play their part in the UAE's economic growth, long after Covid-19 has passed."

Kevin Day, CEO of HPD LendScape, said: "We're thrilled to work together with

EDB on this landmark partnership. Going live in record time and fully

implemented remotely, the project demonstrates the value of a truly

collaborative approach, with ourselves, EDB and the IFC all working

successfully together to ensure project success."

Source: HPD LendScape