LiquidX announced today that Truist Financial Corporation (NYSE:TFC) is leveraging LiquidX as its turn-key automation solution for white-label technology and distribution capabilities. As one of the top ten largest banks in the U.S., Truist can provide trade finance programs to existing and new customers on LiquidX’s state-of-the-art trade and working capital platform.
In this new partnership, LiquidX will provide Truist with an easy-to-use, robust platform for funding all working capital needs, including automating distribution tracking and reporting to an extensive network of participants. Two programs have already been put in place:
- A $1.5B AR program facility for a major insurance company: LiquidX’s invoice digitization service enabled the program to launch quickly with minimal IT resources required of the corporate. Truist leverages LiquidX’s distribution module to automate the selldown to a number of investors via a flexible array of reporting options.
- A $500mm AR program facility for a technology company: LiquidX’s invoice digitization service enabled a smooth transition from the corporate’s previous platform, without any modification to the invoice file. Truist leverages LiquidX’s distribution module to automate the selldown to a global pool of investors.
An efficient and comprehensive software platform, LiquidX provides a linear ecosystem that enables financial institutions to structure AR/AP programs for their corporate customers in either a white label or co branded environment. LiquidX eliminates the barriers to entry for launching a full-service trade finance business through a turn-key solution that automates front, middle, and back-office processes to maximize efficiency, liquidity and forecasting.
“We’re thrilled to welcome Truist to the LiquidX platform,” said Art Certosimo, CEO of LiquidX. “Considering the strain on today’s supply chains, we are proud to deliver a best-in-class technology solution that will enable Truist to improve and expand its trade finance capabilities. Our comprehensive single interface will allow Truist to deliver quick and efficient working capital liquidity to its clients.”
A leading global technology company, LiquidX enables trade finance professionals to transact more efficiently by digitizing their trade finance and working capital management. We deliver an industry-leading ecosystem for working capital optimization to our diverse network of global participants, including corporations, banks, institutional investors and insurance providers.
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