Stanbic Bank to offer suppliers short-term loans
SEE ALSO :Private sector activity jumps in JuneHead of Business Banking at Stanbic Bank Kenya Thomas Bisonga said the new platform rides on technology. “At the core of this proposition is a robust technology platform to facilitate convenient delivery of the solution,” he said. Mr Bisonga said the solution had been inspired by feedback from distributors and suppliers, whose constant pain points are having to wait for the requisite 30 to 90-day period before invoices mature for payments. The bank has also partnered with Virtual City, a local fintech, to build a more robust platform.
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