Crédit Agricole CIB has partnered with Demica to launch a digital receivables and supply chain finance platform for Asia Pacific markets, following rising client need for working capital solutions. 

The platform, called Optim RSF, enables clients to finance large volumes of invoices across various currencies. It was developed by Demica as a white-labelled product and marks the latest milestone in a long-term collaboration with Crédit Agricole. 

Its launch comes in response to “increasing demand for supply chain finance in the Asia Pacific region”, the two companies say in a joint announcement. 

A UN study last year found that Asia is second only to Africa in terms of supply chain finance growth, and boasts a far larger volume of existing programmes. An industry survey produced by Demica the same year said growth in the region “shows little sign of slowing down”. 

Optim RSF uses direct interfaces that connect Crédit Agricole’s back office systems with Demica’s supply chain finance platform. The link-up was implemented in under a year, the companies say.  

The platform aims to improve automation and minimise operational risks, providing users with information on interest and foreign exchange rates as well as a bespoke payment interface and funding reports. 

“We already on-boarded a large corporate as the first client and are hopeful that the new offering will gain ground across the region,” says Laurent Proutière, Crédit Agricole’s head of international trade and transaction banking for Asia Pacific. 

Optim RSF’s development “is consistent with our strategy to leverage the fintech ecosystem to develop our value proposition and will be instrumental to continue supporting our clients unlocking working capital tied up in their supply chain across the region”, Proutière adds. 

Maurice Benisty, chief commercial officer at Demica, adds that the duo “are now looking forward to expanding the partnership into other products and regions”. 

The launch “builds on our long and highly valued relationship with Crédit Agricole CIB which is founded on a mutual commitment to meeting the evolving needs of businesses engaged in cross-border trade,” Benisty says.