MYbank upgrades supply chain finance

On September 1, MYbank released its supply chain finance development status for the first time. It shows that the epidemic is significantly accelerating the speed at which the consumer goods industry embraces the Internet.

On September 1, MYbank released its supply chain finance development status for the first time.

It shows that the epidemic is significantly accelerating the speed at which the consumer goods industry embraces the Internet.

More than 100 consumer product brands have accessed contactless loans, and through this method they provide financial support to small and micro enterprises upstream and downstream.

At the same time, MYbank also announced the “Digital Supply Chain Finance Upgrade Plan”: it is being fully integrated with Dingding.

In the next five years, it is expected to cooperate with 10,000 brands to serve 10 million small and micro operators through supply chain finance.

This also means that supply chain finance, a financial tool that could only be used by big brands and distributors, will enter the inclusive stage in China.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/09/02/mybank-upgrades-supply-chain-finance/.

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