US Bank, a key processor of transportation payables and a major lender to supply chain activities, is collaborating with LiquidX to further digitize its supply chain finance.
Some of those LiquidX supply chain clients were previously served by the US Bank as part of the two firms’ existing partnerships.
Customers may now have quicker access to US Bank’s product offerings.
US Bank said: “Suppliers and buyers will be able to connect their supply-chain systems directly to U.S. Bank and transact through LiquidX’s easy-to-use platform. US Bank financing solutions delivered through this collaboration will enable suppliers to be paid nearly immediately and buyers to receive extended payment terms.”
On its website, LiquidX highlights that it provides receivables, inventory, and supply chain finance in addition to software.
LiquidX provides a “white-label solution,” in which its supply chain finance solutions work in tandem with a company’s existing financing activities.
Despite the fact that US Bank is a large financial processor for the freight sector, it does not engage in factoring.
And the section of US Bank’s operations that will be collaborating with LiquidX is not the part of the firm that enables buyers and sellers with quick freight payments.