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E-invoicing, SCF & E-procurement

Bank of Montreal picks Demica for supply chain finance offer

Tuesday 16 July 2019 | 12:14 PM CET

Bank of Montreal has licenced UK-based working capital solution provider Demica’s supply chain finance technology platform under a ‘white label’ agreement.

The deal includes a range of support services including buyer integration and supplier onboarding. Demica representatives have described the agreement with BMO as, an important step for Demica, as the company grows its business in North America. Demica has established dedicated local resource to serve BMO and are very focused on delivery for them and their customers.

BMO had previously worked with PrimeRevenue as a partner in a deal announced in 2006. Demica provides working capital solutions to major corporations and financial institutions. We are currently facilitating the financing of over USD 90 billion of receivables and payables per year from 135 countries around the world. The company offers trade receivables securitisation, supply chain finance and invoice discounting, and has recently extended their existing technology and service capabilities to include the ability to underwrite or arrange funding for clients’ programs where required.

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