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E-invoicing, SCF & E-procurement

Traxpay and Nord/LB to enter partnership for SCF services

Wednesday 11 January 2017 | 01:30 PM CET

Traxpay and NORD/LB, a Germany-based bank, and its subsidiary NORD/LB Luxembourg have announced a planned cooperation to support the bank’s digitalization strategy.

With Traxpay’s Financing Platform NORD/LB will be able to streamline Supply Chain Financing (SCF) services through a direct plug-in to customers’ ERP systems.

Traxpay’s technology will help by supporting corporate customers to optimize processes, and increase efficiencies in their supply chains by making use of the data and intelligence they already have within their systems. More than that, digitalization will allow for reduced administrative complexity and spending, faster response times, and a high level of flexibility in transacting with trade partners, claims the company.

Traxpay’s Financing Platform provides banks, corporations, and B2B networks with a solution for digitizing supply chain financing transactions. Trading partners can connect their ERP systems easily not only to one another but also to banks backend systems, automating communications between all parties.

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