Banco Bradesco, the second largest private sector bank in Brazil by total assets, joined LiquidX’s network. LiquidX is a global technology platform for working capital, trade finance and insurance. According to LiquidX, Banco Bradesco is the first funder from Latin America to join the network. The bank serves clients through 79,900 service points, with 70 million customers and 32.3 million account holders.
More than 50 liquidity providers are now on the LiquidX platform.
“We’re thrilled about Banco Bradesco joining the platform,” Jim Toffey, CEO of LiquidX, said. “We’ve been very eager to expand our customer base to Latin America, and we’re fortunate to be working with a bank of Bradesco’s size and reputation. Bradesco’s clients can transact in accounts receivable, supply chain finance and trade credit insurance, all within a single intuitive interface. These clients don’t have to work with multiple applications and vendors to manage their working capital, as they will have the full suite of transaction functionality in a single web-based screen to transact smarter, faster and cheaper.”
“As the most valuable brand in Latin America and present in the United States since 1982, we are happy to join LiquidX to increase our supply chain financing capability, following our customers’ needs in line with our new determination to have our customers at the center of our decision making,” Eduardo Waddington, senior corporate banker for North America for Banco Bradesco, said. “Some of our most important U.S. multinational clients are already engaged in this next generation financial technology and we intend to expand our presence with other U.S. companies that have some kind of Brazilian connection.”
