NDB Bank TradeCard to provide robust trade financing services

TradeCard Inc., the leading provider of extended supply chain solutions, entered into a partnership deal to add NDB Bank to its global network of more than 3,000 buyers, suppliers and service providers.

The partnership enables NDB Bank to leverage the TradeCard Platform to provide import and export financing services, reduce transaction costs and improve transaction visibility.

"Partnering with TradeCard enables us to electronically deliver more trade financing options to our customers in Sri Lanka while opening the door to serve thousands of buyers and suppliers on the TradeCard network," said Chief Executive Officer NDB Bank Nihal Welikala.

TradeCard enables sellers to request financing online and allows the financing bank to view transaction documentation electronically to improve speed and efficiency in the financing process.

"The TradeCard Platform provides NDB Bank with a competitive advantage over other banks in the market," said Kurt Cavano, CEO of TradeCard, Inc.

"NDB Bank will be inserted into our smart network, enabling it to directly access more than 3,000 buyers and suppliers on the TradeCard Platform to cross sell more of its traditional products and interface with more parties involved in transactions. Our hosted platform will reduce processing costs and provide online financial services to enable new financing opportunities for NDB Bank"

"NDB Bank is partnering many businesses operating in Sri Lanka in providing end-to-end financial solutions. We work closely with our clients to improve operations by providing them with advice and financial support to reach desired heights in business. We have recognised the Apparel sector as one of the most important contributors to the Sri Lankan economy and have taken a strategic decision to support this sector.

This partnership with TradeCard will further enhance our commitment to this sector and believe would turnout to be a win-win solution to NDB Bank, TradeCard and the Apparel manufacturers", Vice President Emerging Corporates Raj Aboobucker said.