CMA CGM has launched Shipfin Trade Finance, a range of financing services dedicated to importing and exporting, in partnership with Incomlend, a global invoice finance platform.
The French company hopes to offer its customers a range of “simple, reliable and rapid” financial services to consolidate and support their international growth.
The solutions are based on two initial products dedicated to importing and exporting customers: supply chain financing and cargo financing.
They will be available on the CMA CGM, ANL, APL and CNC platforms and initially available to customers based in India, Dubai, Singapore, China – Hong Kong SAR, Malaysia, Indonesia and the Philippines before gradually being deployed to other countries or areas.
With supply chain financing, the company is targeting importers who wish to free up their working capital while stabilising their supplier relations.
Group customers who opt for this solution can thus extend their payment deadlines up to 120 days, strengthen their supplier relations by improving their cash flow and optimise payment tracking by finding all their documents in one place.
They can also try to master their compliance risk thanks to the KYC (Know Your Customer) assessment achieved by their suppliers and simplify their processes by interfacing their IT systems with the platform (EDI/API).
Using cargo financing, CMA CGM aims to help exporters who want to improve their working capital and ensure the growth of their business.
In particular, it hopes customers will be able to maintain their cash position by receiving payment as soon as they load their goods, for up to 90% of the value of the invoice and optimise the tracking of their invoices and customer receivables by finding all their documents in one place.
Additionally, the carrier hopes to reduce customer risk thanks to credit insurance coverage, simply multi-currency exchanges as well as the invoice collection process and help customers benefit from non-recourse financing and maintain their borrowing power.