Sampath Bank partners GT Nexus to deliver cutting-edge trade financing

Sampath Bank Plc Managing Director Nanda Fernando with GT Nexus President Kurt Cavano exchanging the agreement

A pioneer in introducing revolutionary financial solutions to the Sri Lankan market, Sampath Bank Plc is once again set to transform the local banking industry through its partnership with global giant GT Nexus. 

This will usher Lankan manufacturers into the cloud-based era and streamline their export operations by facilitating access to capital in the supply chain as early as the purchase order.

GT Nexus is the world’s largest cloud-based business network and execution platform for global trade and supply chain management, managing over $ 500 billion in goods on its platform. Through this partnership, Sampath Bank will open up a world of new opportunities for local exporters, by giving them access to over 25,000 clients already onboard with GT Nexus and by allowing them to harness the ready visibility and automation provided by the cloud-based platform.

Commenting on this partnership, Sampath Bank Plc Senior Deputy General Manager - Corporate Banking, Shashi Kandambi Jassim said: “GT Nexus enables us to plug into the global supply chains of the world’s biggest companies and remove risk and friction. Capital is the lifeblood of global commerce. When it dries up, trade comes to a halt. We’re able to leverage a cloud-based environment to deliver access to capital earlier in the transaction and at essential steps in the lifecycle.”

No newcomer to introducing transforming solutions to the local financial industry, Sampath Bank is one of Sri Lanka’s leading financial service providers, counting commercial banking, leasing, online banking, trade financing and more among its financial offerings. The bank has set itself apart thanks to its technological innovations and continues to forge ahead with its futuristic vision.

This partnership with GT Nexus is a testament to Sampath Bank’s drive towards innovation and will bring together buyers, sellers, financiers and all other stakeholders together on one platform. Further, it will equip Sri Lankan exporters with a constant stream of real-time trade information across multiple supply chain functions, allowing them to operate seamlessly with global partners from the point of order through to the final payment.

GT Nexus President Kurt Cavano said: “Traditional supply chain finance provides limited value and flexibility. The combination of network connectivity, cloud technology and multi-party visibility enables a transformation in the way supplier funding is delivered. Suppliers can access funding when they need it. This is essential to ensuring the health and strength of today’s complex global supply chains.”

GT Nexus, an Infor company, operates the world’s largest cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including the adidas Group, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Nestlé, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate against a core, real-time and always on set of information across multiple supply chain functions, allowing them to optimise the flow of goods, funds and trade information from the point of order through to final payment. For more information visit www.gtnexus.com.