Kotak Mahindra Bank is partnering with C2FO, a provider of innovative working-capital technology solutions. The bank will offer its corporate customers a new risk-free solution to manage working capital more efficiently using C2FO’s early payment marketplace. With $2.2 trillion of spend from Indian and global corporates represented by C2FO, and tremendous growth (300% yoy) in adoption of C2FO by vendors to India’s corporates, the partnership is expected to improve returns and margins for Kotak Mahindra Bank’s customers, while creating an influx of liquidity for their vendors. Customers will be able to design and implement innovative working capital solutions that improve their own bottom line. Vendors of the corporates can access early payment on approved invoices when they want, and at desired discount rates using C2FO, thus providing businesses with access to affordable capital. Using C2FO enables vendors to turn receivables into cash flow and corporates to turn payables into income. Shekhar Bhandari, senior executive vice president and business head, Global Transaction Banking & Precious Metals, at Kotak Mahindra Bank, said partnering with C2FO allows the bank to offer an effective working capital management technology that provides corporates in India access to efficiency levels achieved by Fortune 500 companies globally.
