CRIF and FundPark enter into a strategic partnership to provide SMEs with credit risk and trade finance solutions
In January 2018, CRIF, a global company specializing in credit bureau, business information and credit solutions, entered into a strategic partnership with FundPark, a Trade Finance Platform in Asia, to support small and medium-sized enterprises (SMEs) in developing their businesses. Thanks to FundPark’s flexible trade finance solution and CRIF’s business information services, it will be possible for SMEs to satisfy their financing needs while minimizing credit risk.
Relying on its international network, CRIF provides SMEs with up-to-date and comprehensive business information solutions, allowing them to identify trustworthy business partners, help them make better and more reliable decisions, as well as reduce potential credit risks.
Nowadays, small and medium-sized companies are challenged by insufficient cash flow due to long payback periods in transaction processes and related impacts on business development. FundPark’s purchase order and invoice financing solutions make it possible for SMEs to obtain funding in a quicker and easier way through FundPark’s trade finance platform, which is equipped with advanced technology to reduce processing time and costs.
“In a highly competitive market, the partnership between CRIF and FundPark will provide a safer and more flexible channel to enhance SMEs’ liquidity, leading to improved business planning and development”, commented Fion Fok, CRIF Deputy General Manager for Hong Kong & South China Region.
“CRIF has built up solid experience in business information and credit risk management, and established a safer business ecosystem. As an online trade finance platform with an in-house credit model, FundPark will now leverage CRIF’s data to provide a more user-friendly solution for SMEs and better risk control for funders”, said Anson Suen, Co-founder and CEO of FundPark.
FundPark is a trade finance platform in Asia focusing on the SME segment. FundPark provides invoice and purchase order financing for SMEs, giving a user-friendly client experience with faster, more efficient onboarding and processing than traditional banks and factoring houses.
Headquartered in Hong Kong, FundPark has already provided online trade finance solutions to a number of SMEs, covering local traders and manufacturers from a variety of industries, servicing companies, and various B2B solution providers.
For more information: www.fundpark.com