Under a three-year technology agreement, Barclays Bank has invested USD 3 million in Trade Ledger and agreed to implement its working capital platform.
For Barclays Corporate clients in the UK and other countries, end-to-end credit management automation will be made available through the new platform. Customers of Barclays can now transfer data directly through an API from their accounting software package using the online application form.
Additionally, they have the choice of uploading their data via a user interface. Within hours of receiving an application, the Trade Ledger platform uses a rule-based decisioning engine to automatically generate a survey and risk report, which is then sent to the underwriters.