New appointments in the supply chain finance arena provide further confirmation if any was needed that this is a space to watch. Crossflow Payments, a relatively new entrant, has just announced the appointment of Tony Pinn, former Head of Supply Chain within Trade Finance at Barclays, to a director position.
Crossflow Payments recently launched its industry-first peer-to-peer (P2P – confusing I know!) invoice financing service, which supports SME cash flow issues in supply chains and offers finance providers a low risk, high yield investment option.
Tony brings more than 20 years experience to Crossflow Payments, having worked in the financial services industry with JPMorgan, Citigroup, HSBC as well as Barclays. Tony’s core experience lies in advising on areas including product development, marketing strategy and business operations and he has worked closely with clients in the areas of Trade Finance and Financial Supply Chain.
On the appointment, Tony commented: “The Crossflow Payments proposition is one which is both unique and disruptive. Now more than ever, supply chains are in need of solutions which can help with cash flow and boost relationships between buyer and supplier businesses. The introduction of P2P lending into the supply chain through Crossflow Payments’ system is exactly the kind of forward-thinking business model that the British economy needs to help it grow.”
Tony will draw on his experience of developing and rolling-out financial supply chain products to help Crossflow Payments deliver sophisticated solutions for SMEs which want to ease cash flows, buyers looking for ways to strengthen supply chain relationships, and finance providers seeking short term, low risk, high yield investment options.
“P2P lending has proved itself to be a worthy and viable alternative source of finance for many people and businesses. It makes complete sense to inject this method of funding into UK supply chains, which may be struggling with the pressures of today’s economic climate. I look forward to helping Crossflow Payments expand and grow as it drives development in the invoice finance, supply chain and P2P industries.”
Pete Loughlin can be found on twitter @peteloughlin