Mastercard builds multi-stakeholder alliance with Asian bank

That would create a new digital pathway to credit for wholesalers for better cash flow management

Mastercard

Mastercard builds multi-stakeholder alliance with Asian bank. Source: shutterstock.com

Mastercard and its partners N-Frnds, SGeBIZ, and Finastra have formed an alliance with the support of the Asian Development Bank.

They aim to create technology solutions to drive digital efficiency in the retail supply chain across Asia and increase wholesalers’ access to credit.

Mastercard is reported to use supply chain data from N-Frnds, SGeBIZ’s digital procure-2-pay platform to partner with Finastra and its Trade Bank customers.

Their collaboration is expected to increase the digital data available to assess creditworthiness and create new models to evaluate it.

One of the most fundamental problems for SMEs and micro-businesses across Asia is access to finance. Without credit, financially excluded businesses become caught in cycles that restrict their capacity to grow and leave them underprepared for the effects of market disruption. Technology is the enabler to tackle financial inclusion challenges. As part of this collaboration, we are able to drive change to bring positive outcomes, through digital transformation and innovative new lending pathways
Simon Paris, CEO, Finastra

The alliance will use N-Frnds’ mobile solution which optimizes logistics and operations. It connects Fast Moving Consumer Goods companies with wholesalers for placing orders, coordinating deliveries, and monitoring inventory levels. That would help to better communicate upcoming promotional efforts between suppliers and wholesalers.

We’ve reported that Mastercard has announced a virtual testing environment for central banks to evaluate CBDC use cases.

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