Centrum says Encore Theme for supply chain finance
India-based Centrum Financial Services has selected Encore Theme Technologies’ product ThemeChain for supply chain finance (SCF).
The system will be used on a Software-as-a-Service (SaaS) basis.
Inderjit Camotra, EVP, Centrum Financial Services, says: “Encore Theme’s system has the strong capability of handling multiple invoices within the same batch as well as multiple batches for the same client.”
According to Encore, ThemeChain automates the SCF process, linking the buyers, suppliers and the bank within one web-based system which collects, verifies and displays payables data for trade and settlement in a real-time environment.
Encore provides core business software solutions for banks and financial institutions. It also works in home finance, and retail and corporate lending for non-banking financial companies (NBFCs).
In addition, Encore is a partner of Finastra (formerly Misys) in India.
Back in April 2017, State Bank of India (SBI) centralised its trade finance operations across 25 countries on the Fusionbanking Trade Innovation platform. Encore assisted Finastra with the implementation.