Skonto an jedem Tag möglich zu günstigen Konditionen. 1%0,5%1,5%2% 14 Tage60 Tage

Data is the New Oil in B2B Banking

The following excerpts are from “Data is the New Oil in B2B Banking,” authored by Traxpay’s Founder/CEO Markus Rupprecht (including editorial comments) for a recent report published by theInternationalen Handelskammer (ICC) published report under the title „Rethinking Trade & Finance: An ICC Private Sector Perspective“.

“FinTech has often been portrayed as a disintermediation for banks. 18 years ago PayPal, at the time a new market entrant, began its quest to shake up the financial services industry and ultimately captured a very big piece of the B2C payment pie. It has been enormously successful, and other B2C payment providers have since joined the movement to challenge banks in this space. While banks continue to dominate in other B2C segments such as real estate financing, retirement planning, and consumer investment strategies, they must now turn their focus to threats looming in the market for B2B transactions — a global market that has been estimated to be worth more than USD 300 trillion annually.”

“The banks that find the right partner will have the opportunity to tap into the largest oil wells of the 21st century.”

“There is an ever-increasing demand for integrated and innovative financial products in the B2B market. Enterprises are seeking convenience and flexibility, automated transaction processing, and optimized working capital. They need streamlined processes to succeed in the age of international commerce which has become infinitely more complex, competitive, and costly.”

“One of the most important problems is still reconciliation in Accounts Payable and Accounts Receivable. As long as invoicing cannot be allocated with a fully-automated process, it is very difficult to refinance it on a flexible, ad hoc basis. It’s generally accepted that the average invoice in B2B is worth EUR 10,000. A 60-day maturity at 3% would yield EUR 50 of interest. Since most reconciliation studies are based on higher yields, refinancing on a one-off basis makes little sense.”

Any questions?

Portrait Sibel Kücükcolak | Traxpay
  • Sibel Kücükcolak
  • Sales Executive
  • +49 69 597 721 535
    • * required
    • This field is for validation purposes and should be left unchanged.

Read also

Connecting the Dots: Supply Chain Finance’s Impact on Value Chain Dynamics

How can businesses reshape value chains to serve the greater good, adapt to regulatory mandates, and address sustainability concerns in our ever-changing world?

Upcycled Financing – revitalised financing instruments for simultaneous optimisation of EBITA and working capital

Upcycling, i.e., the digital use and extension of the centuries-old payment and financing instrument, the bill of exchange, creates the opportunity for an upgrade of existing supply chain finance solutions.

Secure liquidity digitally

The coronavirus pandemic has driven digitalisation. This also applies to global trade. Negociable instruments are thus brought back to life.