HSBC digitises supply chain finance for Unilever 
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THURSDAY, JUNE 30, 2022
HSBC digitises supply chain finance for Unilever 

Banking

TBS Report
02 May, 2021, 05:05 pm
Last modified: 02 May, 2021, 10:19 pm

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HSBC digitises supply chain finance for Unilever 

HSBC's supply chain finance platform provides working capital finance at competitive prices to Unilever Bangladesh and its network of suppliers

TBS Report
02 May, 2021, 05:05 pm
Last modified: 02 May, 2021, 10:19 pm
HSBC digitises supply chain finance for Unilever 

The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh and Unilever Bangladesh Limited recently conducted their first transaction using HSBC Supply Chain Finance (HSCF). 

The digital solution provides working capital finance at competitive prices to Unilever Bangladesh and its network of suppliers, read a press release on Sunday.

HSCF is an electronic platform which benefits both the bank's customers and their trade partners through automation and enhanced usability. The solution digitises the end-to-end process of financing the invoices raised by Unilever Bangladesh's suppliers. No manual intervention is required from approval of the invoices to crediting the proceeds to the suppliers' accounts.

The proposition is small and medium enterprises (SMEs) friendly as suppliers do not need to set up a credit limit, or need to change their current banking providers. It also provides 'a single source of truth' when managing data and supports all parties to save time, reduce manual errors and provide quick and timely updates when conducting business.  
 
Commenting on the solution, Md Mahbub ur Rahman, CEO of HSBC Bangladesh said, "We see digitising Unilever Bangladesh's supply chain finance as an enormous opportunity to make doing business easier not only for our customers, but their suppliers too. The ability to offer competitive working capital finance across an entire supply chain means we can deliver a better experience and add value, especially to SMEs who can realise greater potential from the speed and simplicity of our digital services."

Kedar Lele, chairman and managing director, Unilever Bangladesh, said, "We are happy to partner with HSBC who has brought such innovative solutions which will yield robust and cost-effective financial services. Most importantly, it will allow our small and medium suppliers access to finance at highly competitive rates and help them grow."

Economy

HSBC Bangladesh / Unilever Bangladesh Limited

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