Demica is pleased to announce that last week during FC1 51st Annual Meeting in Ho Chi Minh City, 4 FCI members signed up to FCIreverse, the supply chain finance platform for FCI members, by way of a memorandum of understanding (MOU), more member firms are expected to sign up in the next months. This follows the Mandate Agreement signed a year ago between FCI and Demica to use a customised Demica platform as the engine of FCIreverse.
FCI Reverse powered by Demica, automates domestic and international SCF programmes and accommodates the onboarding of suppliers in over 90 countries around the world through FCI member firms. Its innovative “four corner model” enables financial institutions to overcome the challenges associated with supplier onboarding across global supply chains.
The innovative model supports multinational supply chain finance programmes by including financial institutions in both the buyer’s and suppliers’ markets. These collaborate to facilitate supplier onboarding and share revenues in line with an agreed structure.
Demica Director, Avarina Miller, said: “We were delighted to have the opportunity during the conference to discuss with so many members the value of FCIreverse to them, their clients and prospects. Many members are building business plans and pursuing programme opportunities. FCI reverse is a market ready, plug and play solution enabling FCI members to provide a fully automated SCF product in their local markets and internationally. In its four corner model it is a transformative development for the supply chain finance market, enabling FCI members to provide finance aligned with physical supply chains no matter how widespread, through the combination of the FCI’s unique interfactor legal framework and Demica’s award winning SCF technology. ”
To learn more about FCIreverse visit www.demica.com/fci-reverse