Huntington National Bank (Nasdaq: HBAN) has recently unveiled its partnership with LiquidX, a prominent global fintech platform, to enhance its trade finance infrastructure. LiquidX specializes in digitizing, monetizing, and mitigating risk for working capital, trade finance, and insurance assets, and will now be providing an automated, end-to-end back-office solution to scale Huntington’s trade finance operations.
The primary objective behind this collaboration is to streamline supply chain finance operations and optimize payment reconciliation processes. Huntington identified LiquidX as an optimal collaborator due to its efficiency in expanding and improving trade finance offerings.
Andy Arduini, senior managing director of Huntington Global Advisory & Working Capital Finance, stated, “LiquidX understands Huntington’s strategic imperatives and the tools we need to position our trade finance customers for success in this competitive marketplace. Our collaboration will enable us to better serve our customers at all points along the supply chain continuum.”
LiquidX’s comprehensive back-office solution includes features such as:
Digitization: Standardizing reporting and consolidating all data into a central platform. Enhanced Insights: Utilizing powerful business intelligence tools for robust reporting pre and post-purchase, including limit management, interest accrual, and exposure tracking. Reconciliation: Leveraging InMatch, an AI and machine learning-driven tool for automating remittance advice pairing with payments and adjusting invoice values. This agreement with LiquidX empowers Huntington to further scale its business while redirecting resources toward strategic initiatives.
Jim Toffey, CEO of LiquidX, expressed enthusiasm about collaborating with Huntington, emphasizing, “We are thrilled to work with a powerhouse regional bank, such as Huntington, to provide the back-office tools they need to translate strong client relationships into trade finance assets.”
About Huntington: Huntington Bancshares Incorporated (Nasdaq: HBAN) is a regional bank holding company with assets totaling $179 billion. Headquartered in Columbus, Ohio, the bank and its affiliates cater to consumers, small and middle-market businesses, corporations, municipalities, and other organizations. Operating across 11 states with over 1,000 branches, Huntington offers a comprehensive suite of banking, payments, wealth management, and risk management products and services. For more details, visit Huntington.com.
About LiquidX: LiquidX is a leading global technology company that empowers finance professionals to conduct faster, smarter, and more cost-effective transactions by digitizing trade finance and working capital solutions. Their flagship solutions integrate AI and machine learning analytics to enhance transparency, reporting, and forecasting for suppliers, buyers, and banks. With headquarters in New York and a global presence, LiquidX provides an industry-leading ecosystem for optimizing working capital to a diverse network of corporations, banks, institutional investors, and insurance providers. Their partnerships include collaborations with notable entities such as Broadridge, U.S. Bank, and Citi.
Source: Huntington Bancshares Inc.
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