Revamping Banking: Finverity and Tesselate’s New Strategic Partnership
In an era marked by unprecedented demand for digital solutions in the financial sector, Finverity, the trade and supply chain finance digital ecosystem, has joined forces with Tesselate Group, a prominent provider of adaptable and scalable business systems, to catalyse a groundbreaking transformation in the world of working capital financing.
The Power of FinverityOS
Finverity’s flagship technology, FinverityOS, lies at the heart of this transformative collaboration. It is the cornerstone for banks and Non-Banking Financial Institutions (NBFIs) looking to embark on a digitalisation journey. By consolidating all working capital and supply chain finance products into a single operating system, FinverityOS offers a seamless and holistic solution to streamline operations.
Interoperability Amplified
The integration of Tesselate Group’s interoperability layer, Hive.t, magnifies the power of this partnership, enabling the swift deployment of new systems in as little as 30 days.
Seizing the Opportunity
The timing of this collaboration could not be more suitable. In recent years, global supply chain finance volumes have surged, growing by an impressive 21% year-on-year. Simultaneously, the trade finance gap, representing the disparity between financing requests and approvals, has expanded by 50% in just two years, reaching a staggering $2.5 trillion.
Breaking Free from Legacy Systems
Despite this burgeoning demand for supply chain finance, many banks remain ensnared by archaic, manual, and paper-based systems that have seen little evolution since the 1980s. The Finverity–Tesselate Group alliance is poised to disrupt this status quo.
A Gateway to Stability
This partnership can potentially redefine the competitive landscape of the financial sector. As banks and NBFIs embrace this transformative solution, they are poised to unlock new revenue streams, foster innovation, and provide enhanced services to existing and prospective clients.
Partnering for the Future
Furthermore, this partnership aligns with Finverity’s mission, established in London in 2017 to bridge the global trade finance gap. The Finverity digital ecosystem comprises two core offerings: FinverityOS, an end-to-end operating system designed to transform trade and supply chain finance operations digitally, and Finverity Capital, tailored trade and SCF solutions that empower ambitious corporates to access working capital seamlessly and enable funding partners to deploy capital into quality trade assets securely and at scale.
A Transformative Turning Point
This strategic collaboration marks a turning point in the evolution of working capital financing, setting the stage for a more efficient, innovative, and digitally empowered future. As the world of finance continues its relentless march towards digitalisation, Finverity and Tesselate Group have positioned themselves at the forefront, ready to lead the way into a new era of banking excellence.
Conclusion
In conclusion, the partnership between Finverity and Tesselate Group represents a watershed moment in the financial sector, promising to revolutionise working capital financing and supply chain finance. With their combined expertise and cutting-edge technology, they are poised to empower banks and NBFIs, drive revenue growth, and pave the way for a brighter, more digitally advanced future in banking.
