BOGOTÁ, Colombia–(BUSINESS WIRE)–June 2, 2022–
Omni, the data-driven fintech focused on providing working capital solutions to small and medium enterprises in Latin America, today announced a strategic alliance with JP Morgan. The strategic alliance will provide local and cross-border supply chain finance and dynamic discounting products and services to a broad customer base in the region through Omni’s proprietary platform.
“With this alliance, we are combining the strength of JP Morgan’s banking capabilities in Latin America and the data-driven capabilities of Omni, providing buyers and suppliers with the additional working capital they need to scale their business in challenging environment, improving supply chain stability and counterparty relationships,” said Diego Caicedo, CEO and co-founder of Omni.
The strategic alliance represents a step forward and a unique proposition in the region for both parties, as it will leverage JP Morgan’s expertise, customer network, financing and distribution capabilities with proprietary technology. ‘Omni to create, underwrite and service working capital solutions for enterprises, middle market enterprises and SMEs. The strategic alliance helps protect the buyer’s supply chain from any credit downturns and funding disruptions, to ensure its entire supplier base has access to a reliable, prepayment program .
“With a 150-year presence in Latin America, JP Morgan continues to invest in the future of Latin America, capitalizing on deep local expertise and a regional footprint. We are seeing customers have unmet needs for a dedicated Latin America supply chain finance solution that we believe is best positioned to meet with Omni’s technical capabilities,” said Ignacio Munoz De Cote, Head of Latin America Payments, JP Morgan. “By leveraging Omni’s APIs, we can offer a simple and fast implementation process at no cost to the buyer, and work directly with the supplier to ensure all of their working capital needs are met.”
The strategic alliance accelerates JP Morgan’s market share in key Latin American countries, leveraging Omni’s current offering, as well as increasing market share in the region. JP Morgan’s Payments business combines the company’s treasury services, commerce and working capital, card services and merchant services to help customers pay anyone, anytime, from anywhere. anywhere in the world. Globally, JP Morgan processes approximately 40 million transactions per day worth over $10 trillion, is the world’s first USD clearer and the first bank to offer real-time USD payments , GBP and EUR.
About Omni
Omni provides data-driven working capital financing solutions for large buyers, mid-market companies, and small to medium sized businesses. The company leverages transactional data and uses machine learning to underwrite loans and connect to large corporate networks, creating an ecosystem of buyers, suppliers and lenders to deliver a range of products and services customers and potential investors.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220602005387/en/
CONTACT: Jimena Castillo
Omni Latam Colombia
KEYWORD: SOUTH AMERICA COLOMBIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY FINANCE BANKING SOFTWARE HARDWARE
SOURCE: Omni
Copyright BusinessWire 2022.
PUBLISHED: 02/06/2022 09:22 / DISK: 02/06/2022 09:22
http://www.businesswire.com/news/home/20220602005387/en
