Connect with us


HPD Lendscape partners with Emirates Development Bank to launch new national supply chain finance platform

HPD Lendscape partners with Emirates Development Bank to launch new national supply chain finance platform 1

Platform will provide much needed access to finance for UAE businesses

Digitalisation of financial services has become a core focus of UAE government

Initial phase offering payables finance solution now live, next phase to include a comprehensive suite of financing products

12 October 2020 – HPD LendScape, a leading international secured lending platform vendor, today announces it has partnered with Emirates Development Bank (EDB) to launch UAE’s National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic. 

SCF solutions enable suppliers to gain quicker access to money they are owed, while buyers get more time to pay off their balances and the new platform will offer a simple, fast and transparent way for bank lenders to onboard both buyers and suppliers. The initial phase of the project offering a payables finance solution has now gone live. The next phase is set to providcomprehensive suite of buyer and supplier centric SFC variations, including Islamic Finance products.

Going live in a record time frame of 4 months, fully implemented remotely and hosted locally by EDB, the National Supply Chain Finance platform has extensive configurability to adapt to different regulatory environments and local market requirements, giving onboarded banks the ability to launch their own payables products variations and manage their custom buyer programmes. HPD will also help EDB set up a new Centre of Excellence that will provide expert support to local funders

Bringing together buyers, suppliers and banks onto one platform, the National Supply Chain Finance solution helps simplify and automate operationsmitigate risk more effectively and make SME finance easily accessible – much needed in the UAE todayThrough a modern online portal accessible from any device, suppliers can interact with both buyers and funders in real timecan request finance with a click and all counterparties enjoy personalised screens and increased visibility of accounts receivables in the supply chain. New onboarding capabilities enable a fast, paperless and efficient KYC process including approval hierarchies and anti-money laundering checks, with bespoke workflows tailored to each buyer programme and to each group of suppliers or to even individual suppliersmuch of which lenders historically completed via lengthy and slower manual processes. 

SMEs in the UAE are finding accessing funds and maximising liquidity, particularly in the current environment to be a challenge, prompting national measures aimed at supporting them. The project is supported by the UAE Government and was developed through the close collaboration between HPD LendScapeEmirates Development Bankand the International Finance Corporation (IFC), a member of the World Bank Group. HPD LendScape is offering a complete solution to EDB, providing ongoing expert advisory support as a close partner to the bank as well as implementing the digital platform. 

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now