South African lender Nedbank has teamed up with trade finance software provider China Systems to streamline its supply chain finance (SCF) offering in Africa, in a first for the continent.

Nedbank will use China Systems’ Eximbills Microservices, a cloud-based back office processing system for trade finance lenders, to improve automation of its SCF-related processes.

China Systems says the solution will improve efficiency, improve integration of systems and enhance security around SCF transactions, driving “significant value for businesses engaged in domestic and international trade”. 

Its use will also make it easier for Nedbank to adapt to changing client needs and connect to API-based financial systems, the company says. The deployment adds to Nedbank’s existing use of the system for trade finance processes.

Graham Clarke, regional managing director of China Systems Middle East, says it is the first time the company’s microservices solution has been deployed for supply chain finance in an African market.

Niron Rampersad, divisional executive of trade finance at Nedbank, adds: “Our trade finance business has taken significant strides in automation of our trade and supply chain finance products, which enable us to reduce manual processes, errors and increase efficiency thereby reducing our cost and improving turnaround times.

“By partnering with a technology partner like China Systems, this has provided us with advanced capabilities of Eximbills Microservices which helps us improve our client experience and better serve our clients.”