Strategic alliance will offer Latin American buyers regional and cross border options to enhance supply chain stability and liquidity.
Together, they provide a single, innovative regional platform for clients.
Omni, the data-driven fintech focused on providing small and medium enterprises with working capital solutions in Latin America, today announced a strategic alliance with J.P. Morgan. The strategic alliance will deliver local and cross border Supply Chain Finance and Dynamic Discounting products and services to a wide client base in the region through Omni’s proprietary Platform.
Latest Fintech News: Kiya.ai launches India’s first-ever Banking Metaverse
“With this alliance, we combine the strength of J.P. Morgan’s banking capabilities in Latin America and Omni’s data-driven capabilities, providing both buyers and suppliers the additional working capital they need in order to scale their business in a challenging environment, enhancing supply chain stability and relationships between counterparties,” said Diego Caicedo, CEO & Cofounder of Omni.
The strategic alliance represents a step forward and unique proposal in the region for both parties as it will leverage J.P. Morgan’s expertise, client network, funding and distribution capabilities with Omni’s proprietary technology to originate, underwrite and service working capital solutions for corporations, middle-market companies, and SMEs. The strategic alliance helps protect the buyer’s supply chain from any credit downturns and funding dislocations, to ensure that their whole supplier base has access to a reliable, early payment program.
Latest Fintech News: Moonbeam Unlocks Full Access to DeFi on Polkadot with Top Liquid Staking Platform Lido
“Through a 150-year presence within Latin America, J.P. Morgan continues to invest in the future of Latin America, capitalizing on deep local expertise and regional footprint. We see unmet client needs for a dedicated Latin America focused supply chain finance solution that we believe we are best positioned to address with Omni’s technical capabilities,” said Ignacio Munoz De Cote, Head of Latin America Payments, J.P. Morgan. “Leveraging Omni’s API’s, we can offer a simple and quick implementation process, at no cost to the buyer, and work directly with the supplier to ensure their full working capital needs are met.”
The strategic alliance accelerates J.P. Morgan’s market share in key Latin America countries, leveraging Omni’s current offering, as well as increasing market share within the region. J.P. Morgan’s Payments business combines the firm’s treasury services, trade & working capital, card and merchant services capabilities to help clients pay anyone, at any time, from anywhere in the world. Globally, J.P. Morgan processes approximately 40 million transactions per day worth more than $10 trillion, is the world’s top USD clearer and the first bank to offer real-time payments across USD, GBP and EUR.
Latest Fintech News: Cashfree Payments partners with NPCI for tokenization of RuPay cards
[To share your insights with us, please write to sghosh@martechseries.com]
