PrimaDollar Clears STS compliance process for its trade finance program

Mumbai, Tuesday 04th February 2020: PrimaDollar, leading provider of trade finance to Indian exporters, has just cleared the STS compliance process for its trade finance program under the European securitisation regulations.

STS compliance is the new gold standard for securitisations, to date achieved by some of the largest borrowers in the capital markets (such as VW, Peugeot, Santander, and Bank of Scotland).

Speaking on the announcement Tim Nicolle, Group CEO of PrimaDollar, said, ?STS compliance is very important to the trade finance that we provide to our Indian export clients. It leads directly to lower funding costs. We are already the lowest cost provider of non-bank trade finance globally, and this will further cement our market-leading position.

As our Indian clients know well, the UK is leaving the European Union (?Brexit?) ? and this has implications for the stability of funding available to UK trade finance platforms. Our STS certification means that our lenders across Europe can continue to provide low cost and efficient funding to us, even as the UK departs from the EU.?

STS compliance was achieved with the support of NIBC Bank NV, a leading European funder of Fintech and alternative credit platforms, international legal counsel Reed Smith, and was independently verified by PCS UK Ltd, a verification agent authorised by the Financial Conduct Authority in the UK.

About PrimaDollar

PrimaDollar services its clients from its headquarters in the UK, supported by an international office network across South and East Asia. Founded in 2015, PrimaDollar launched its product internationally in early 2018 after three years of research and prototyping.PrimaDollar?s key breakthroughs are in the design of the product and the ability to deliver it at a competitive price. With rates as low as 4% per annum, PrimaDollar has been scaling quickly with 1,000s of shipments financed, with 10,000s of trading routes now being supported.

Company :-Value360 Communications

User :- Aishwarya Jayaraman

Email :-aishwarya.jayaraman@value360india.com