Zilingo merchants and manufacturers can directly access UOB's banking solutions.
UOB and fashion e-commerce startup Zilingo have signed a Memorandum of Understanding (MOU) that will allow SMEs on the latter’s platform to access UOB’s banking solutions.
The partnership will enable Zilingo’s merchants and manufacturers to manage their cash flow more efficiently. UOB will also explore support for the e-commerce platform in other areas such as cash management, foreign exchange services and workplace banking services.
“Where businesses may find difficulty in accessing capital due to insufficient financial records, Zilingo’s unique position as a connector of the fashion supply chain will allow us to leverage a bird’s eye view of the supply chain to make a comprehensive assessment of the business’ capabilities and value proposition,” said Ankiti Bose, CEO and co-founder at Zilingo.
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