Market Overview

Global Collaboration Key to Success for Banks and Corporate Customers

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MINNEAPOLIS--(BUSINESS WIRE)--

On October 29, 2012, Kurt Schneiber, Chief Executive Officer at Syncada from Visa, will speak at Sibos 2012 about how banks and corporations can partner to provide supply chain financing on a global scale via a multi-bank network. According to research by the Aberdeen Group, 61% of corporations surveyed prefer a supply chain finance platform connected to multiple financial institutions.

To stay competitive in the face of increased regulation and strained resources, banks are seeking new ways to meet their corporate customers' needs. Corporations seek modern solutions such as technology that connects buyers and suppliers, provides global visibility to spend, and tools that turn suppliers into collaborative partners, such as supply chain finance. A multi-bank network links banks around the world—minimizing the costs and risks while opening up new opportunities for global trade and deepening customer relationships.

“Banks must answer customer needs quickly and economically,” states Schneiber. “With a multi-bank network, banks focus on diversification, lowered risk, and improved customer satisfaction.”

Join Syncada at Sibos 2012 on Monday, October 29, at 4:15 p.m. in Open Theater 1, Exhibit Hall 1, or visit us at stand number 2A21, Exhibit Hall 2. For more information about how Syncada can help banks succeed, visit http://www.syncada.com/forbanks.aspx.

About Syncada

Syncada from Visa provides a business-to-business network for financial institutions to enable clients to increase control over their financial supply chains, regardless of language or currency. Financial institutions use Syncada to deliver standardized invoice processing and payment with integrated financing to their corporate and government clients. Syncada processes invoices for hundreds of buyers and makes payments to tens of thousands of suppliers in 47 countries. In 2011, Syncada processed more than US$21 billion in payments and millions of invoices and trade documents. Visit www.syncada.com for more information.

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Syncada
Kara Pritchett, 612-436-6311
kara.pritchett@syncada.com

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