Orbian, a co-venture of Citigroup, SAP AG and DCE Ltd, has been launched. Orbian enables businesses to trade on better terms, by releasing money that is locked up in supply chains. Once an invoice has been approved, an Orbian Credit to the value of the goods or services is then issued to the suppiers in real time. Suppliers can either use it to pay other suppliers, discount it to cash, or hold it to maturity. Buyers can defer payment without negatively impacting suppliers A worldwide community is being developed, comprising two distinct groups, Members and Sponsors. Members are the end users of Orbian. Sponsors are primarily banks or financial institutions who offer Orbian membership and credit facilities to existing and potential customers. E-markets and investment grade corporates are also eligible to become Sponsors. Orbian provides a web enabled, secure and real time solution for high value commercial transactions.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.