Standard Chartered and Taulia sign MoU to advance working capital management solutions
Taulia, a leading provider of working capital solutions, and Standard Chartered have signed a memorandum of understanding (MoU) to collaborate across a range of working capital finance solutions, with an initial focus on the provision of supply chain finance and dynamic discounting, This marks the first MoU that Taulia has signed with a banking institution, following SAP’s acquisition of Taulia.
As part of the agreement, both parties will look to offer supply chain finance and dynamic discounting solutions, enabled by Taulia’s market leading front-end platform and deeply integrated technology.
Combined with the strength of Standard Chartered’s global presence especially in the emerging markets, trade finance expertise and deep client relationships, the collaboration will help clients enhance the resilience and sustainability of their supply chains, by enabling their suppliers to gain access to working capital more efficiently and cost effectively.
Through the collaboration, Standard Chartered and Taulia will join forces to extend the reach of their working capital finance solutions across both existing and new client networks, especially multinational companies that require the expertise and support at a global and local level.
This will be further strengthened through Taulia’s recent acquisition by SAP, which will unlock further opportunities across SAP’s growing ecosystem to deliver a differentiated experience for buyers and suppliers.
“We are proud to announce the signing of the MoU with Standard Chartered and this marks another milestone in Taulia’s journey to grow our bank network and work closely with our partners to deliver working capital solutions for all of our clients,” said Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team.
He added: “We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets.”
“Ensuring our clients are managing their working capital efficiently is a key priority in ensuring that their businesses grow sustainably, especially with the complexities and challenges in today’s supply chains, We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extending the Bank’s leading sustainable trade expertise into their business network”. Said Kai Fehr, Global Head of Trade & Working Capital, Standard Chartered.
Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East.”
