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FinTech Buzz 2020-07-07
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Thousands of pharmacies are to be offered material financial assistance thanks to a groundbreaking advanced payment system developed by Greensill, Britain’s leading fintech provider of working capital finance, and NHS Business Service Authority (NHSBSA).Greensill is using state of the art technologies and data analytics to forecast the value of prescriptions to be filled by a pharmacy, enabling payment a month in advance of the medicines being dispensed.

This will allow pharmacies to pay for medicines instantly rather than signing up to costly finance terms offered by pharmaceutical companies or banks.The first of these payments was made this week to some 1,000 pharmacies Greensill works with across England.

A further 10,000-plus pharmacies now have the option to use this advanced payment programme.

The new approach delivers payments faster, in advance, and in a more streamlined process.Greensill has worked with over 1,000 pharmacies since July 2018, making more than £1.2 billion of supply chain finance payments a year to ensure these vital frontline community health providers are paid faster.Greensill’s new data enhanced payment programme identifies patterns in the way prescriptions are written to determine the value of medicines to be dispensed in a given period.Bill Crothers, Vice Chairman of Greensill, said: “Paying pharmacists in advance at ultra-low rates will help these vital businesses at a time when so many rely on the essential services and medication they provide.

We are always delighted to be able to use our technology to remove finance costs from a supply chain but never more so than when we can support small businesses that play such a key role in supporting our nation’s health.”Martin Kelsall, Director of Primary Care Services at NHSBSA, said: “We are proud that English pharmacies can now receive, for the first time ever, payment in advance of dispensing medication.

This ground-breaking, innovative service allows them to be paid in advance for the prescriptions they dispense to provide vital frontline community health care.

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AI TechPark 2021-10-07

Following the recent news surrounding the launch of the global Secure Financing solution, MonetaGo announced that the company has teamed with IBM and started collaborating on deployments, beginning with the ASEAN region.Top banking regulators have been moving quickly following a new spate of large-scale frauds across trade finance, demanding that more be done to identify risks in the sector.

The collapse of Greensill and Hin Leong in the past year were the most recent high-profile examples.Digitization of key trade finance processes provides an opportunity for financial institutions to collaborate in new and exciting ways while maintaining the privacy of their customers’ data.

Cryptographic hashing enables transaction information to be secure from being reverse engineered and thus to remain confidential.

All parties can therefore ensure compliance with local laws and regulations while engaging in transactions across borders.

MonetaGo’s Secure Financing solution has been in production since 2018, enabling financiers to de-risk invoices before financing them.“This thought through approach of breaking down information silos between institutions while maintaining the privacy of customers’ data is an effective method to resolve trade finance problems.

We are excited to team with MonetaGo to take Secure Financing into several ASEAN countries,” said Martin Chee, General Manager, IBM ASEAN.With MonetaGo and IBM working together, Secure Financing integrations into we.trade, Tradelens, and PEPPOL are now also being pursued.

collect
0
FinTech Buzz 2020-07-07
img

Thousands of pharmacies are to be offered material financial assistance thanks to a groundbreaking advanced payment system developed by Greensill, Britain’s leading fintech provider of working capital finance, and NHS Business Service Authority (NHSBSA).Greensill is using state of the art technologies and data analytics to forecast the value of prescriptions to be filled by a pharmacy, enabling payment a month in advance of the medicines being dispensed.

This will allow pharmacies to pay for medicines instantly rather than signing up to costly finance terms offered by pharmaceutical companies or banks.The first of these payments was made this week to some 1,000 pharmacies Greensill works with across England.

A further 10,000-plus pharmacies now have the option to use this advanced payment programme.

The new approach delivers payments faster, in advance, and in a more streamlined process.Greensill has worked with over 1,000 pharmacies since July 2018, making more than £1.2 billion of supply chain finance payments a year to ensure these vital frontline community health providers are paid faster.Greensill’s new data enhanced payment programme identifies patterns in the way prescriptions are written to determine the value of medicines to be dispensed in a given period.Bill Crothers, Vice Chairman of Greensill, said: “Paying pharmacists in advance at ultra-low rates will help these vital businesses at a time when so many rely on the essential services and medication they provide.

We are always delighted to be able to use our technology to remove finance costs from a supply chain but never more so than when we can support small businesses that play such a key role in supporting our nation’s health.”Martin Kelsall, Director of Primary Care Services at NHSBSA, said: “We are proud that English pharmacies can now receive, for the first time ever, payment in advance of dispensing medication.

This ground-breaking, innovative service allows them to be paid in advance for the prescriptions they dispense to provide vital frontline community health care.

AI TechPark 2021-10-07

Following the recent news surrounding the launch of the global Secure Financing solution, MonetaGo announced that the company has teamed with IBM and started collaborating on deployments, beginning with the ASEAN region.Top banking regulators have been moving quickly following a new spate of large-scale frauds across trade finance, demanding that more be done to identify risks in the sector.

The collapse of Greensill and Hin Leong in the past year were the most recent high-profile examples.Digitization of key trade finance processes provides an opportunity for financial institutions to collaborate in new and exciting ways while maintaining the privacy of their customers’ data.

Cryptographic hashing enables transaction information to be secure from being reverse engineered and thus to remain confidential.

All parties can therefore ensure compliance with local laws and regulations while engaging in transactions across borders.

MonetaGo’s Secure Financing solution has been in production since 2018, enabling financiers to de-risk invoices before financing them.“This thought through approach of breaking down information silos between institutions while maintaining the privacy of customers’ data is an effective method to resolve trade finance problems.

We are excited to team with MonetaGo to take Secure Financing into several ASEAN countries,” said Martin Chee, General Manager, IBM ASEAN.With MonetaGo and IBM working together, Secure Financing integrations into we.trade, Tradelens, and PEPPOL are now also being pursued.