DiMuto and Aleta Planet Streamline B2B Payments and Trade Finance DiMuto and Aleta Planet have partnered to support digital B2B payments and trade finance. The collaboration brings together DiMuto’s global trade solutions platform and Aleta Planet’s B2B cross-border payment solutions to make payments in and out of China more efficient and transparent, the companies said in a Tuesday (Jan. 17) press release. “Our customers now enjoy greater flexibility and visibility with the addition of this payment gateway option to our Payment Management module,” DiMuto founder and CEO Gary Loh said in the release. “Strengthening our ability to track trade payments will greatly open up opportunities for financing of trades on our platform.” PYMNTS research has found that only 23% of small businesses are happy with their cross-border payment solutions. As a result, companies around the world are turning to multicurrency tools, targeted strategies and future-fit accounts payable (AP) and accounts receivable (AR) solutions to help accelerate and streamline their international growth, according to “International B2B Payments: A Guide for Entrepreneurs and Digital Businesses,” a PYMNTS and Payoneer collaboration. Solutions like those offered by DiMuto address the “black hole” that plagues cross-border payments, Loh told PYMNTS in an interview posted in August 2022. Read more: https://prnewsdistribution.co.uk/dimuto-and-aleta-planet-streamline-b2b-payments-and-trade-finance #B2bPayments #TradeFinance #Dimuto #AletaPlanet #DigitalPayments #NgulminthangLhanghal

African Development Bank Partners with Bank One on Trade Finance The African Development Bank Group is supporting the trade finance efforts of Bank One Limited. The Group will provide a $40 million trade finance package that is meant to help Bank One of Mauritius increase its capacity to provide trade finance to small to medium-sized businesses (SMBs), local corporates and other key sectors in Mauritius and across Africa, the African Development Bank said in a Thursday (Dec. 22) press release. The package includes a $25 million risk participation agreement and a $15 million transaction guarantee, the release said. “Given the cross-sectoral nature of trade, the proposed facility, while leveraging Bank One’s footprint, is expected to enhance the African Development Bank’s efforts to integrate Africa and improve the quality of life for the African people,” African Development Bank Head of Trade Finance Lamin Drammeh said in the release. Africa has an annual “trade finance gap” of $81 billion because SMBs and other domestic firms have greater difficulty accessing trade finance than do multinationals and large local corporates, according to the press release. The African Development Bank aims to reduce that gap by deploying the new transaction guarantee and risk participation agreement with Bank One, which is a leading Mauritian and regional banking for with reach that extends across the continent and globally, the release said. Read more: https://prnewsdistribution.co.uk/african-development-bank-partners-with-bank-one-on-trade-finance #AfricanDevelopmentBank #B2bPayments #CrossborderPayments #DigitalPayments #Smes #TradeFinance #NgulminthangLhanghal