Mizuho Bank has signed a new strategic supply chain finance alliance with PrimeRevenue.
“We are extremely excited to have this new strategic partnership,” says Junichiro Yoshiyama, senior vice-president, head of trade finance division No.1 at Mizuho Bank. “Supply chain finance represents one of our key pillars in our trade finance product suite. We believe that this agreement represents a new era in financing of existing and new clients.”
The Japanese bank’s clients will now be able to access the OpenSCi solution to generate improved working capital and cash flow metrics.
Supply chain finance has experienced growth rates about 20% over the past few years and opportunities in Asia moving forwards is a key target for PrimeRevenue.
Highlighting this focus, PJ Bain, CEO of PrimeRevenue, says: “In Asia, where leading financial institutions such as Mizuho provide corporations with short-term financing to pay suppliers, the market is expected to expand even more rapidly in the coming years.”