In Asia, where leading financial institutions such as Mizuho provide corporations with short-term financing to pay suppliers, the market is expected to expand even more rapidly in the coming years ~ PJ Bain, CEO
Atlanta, GA (PRWEB) October 07, 2014
In a continued effort to provide supply chain finance solutions to major corporations and their suppliers to generate improved working capital and cash flow metrics, Mizuho Financial Group (Mizuho), one of the ten largest global financial institutions in the world, has partnered with PrimeRevenue, Inc. to provide such key solutions in the market.
The announcement represents yet another milestone for PrimeRevenue whose goal is to provide its rapidly expanding customer base with access to market-leading supply chain finance tools and services that offer the industry's highest levels of success rate.
By using PrimeRevenue’s award winning financial supply chain solution, OpenSCi, key clients of Mizuho will enjoy unprecedented ease of accessing working capital, usability and service excellence on a global basis. In addition to the benefits for corporations, supply chain finance solutions provide the option to their suppliers to get paid early in order to gain immediate access to liquidity.
“Supply chain finance has continued to exhibit strong growth in the past few years with annual growth rates above 20 percent,” said PJ Bain, CEO of PrimeRevenue, Inc. “In Asia, where leading financial institutions such as Mizuho provide corporations with short-term financing to pay suppliers, the market is expected to expand even more rapidly in the coming years,” explains Bain.
"As a leading financial institution, we are extremely excited to have this new strategic partnership with the leading platform and servicer provider in supply chain finance, PrimeRevenue,” commented Junichiro Yoshiyama, senior vice president, head of Trade Finance Division No.1, of Mizuho Bank. "Supply chain finance represents one our key pillars in our trade finance product suite. We believe that this agreement represents a new era in financing of existing and new clients.”
About Mizuho Financial Group
Mizuho Bank provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, individuals, public sector entities and small and medium-sized enterprises. A relationship management approach to serving clients enables Mizuho Bank, together with group companies including Mizuho Trust & Banking and Mizuho Securities, to develop customized solutions in areas such as corporate, structured and project finance, investment banking, transaction banking, trust and custody services and risk management. With 79 offices globally, Mizuho Bank offers clients both localized service and the extensive reach of a global business network. Mizuho Bank is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of approximately $1.71 trillion as of March 31, 2014.
About PrimeRevenue, Inc.
For organizations that view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue has the answer. PrimeRevenue provides cash flow to more than 15,000 clients through its OpenSCi suite which offers the control and flexibility required by organizations to optimize their working capital as well as reduce costs and risks throughout the financial supply chain. Headquartered in Atlanta, PrimeRevenue also has offices in London, Frankfurt, Prague, Melbourne, and Hong Kong. PrimeRevenue operates some of the largest supply chain finance programs for clients around the globe. For more information or to contact us, please visit http://www.primerevenue.com.