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FAST Logistics Group partnered with Bank of the Philippine Islands, giving its suppliers access to the lender’s Supply Chain Finance Program
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The SCF program is a fully digital platform that allows suppliers to receive early payment for approved invoices before their due dates
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This helps ease the cash flow of companies supplying to FAST Logistics
FAST Logistics Group has partnered with Bank of the Philippine Islands (BPI), giving its suppliers access to the lender’s Supply Chain Finance (SCF) Program.
The SCF program is a fully digital platform that allows suppliers to receive early payment for approved invoices before their due dates, according to BPI.
The digital platform, launched in 2024, allows BPI’s corporate clients to upload approved invoices that are eligible for early payment. Suppliers can then choose the invoices they wish to receive funding for, and once approved, the funds are credited to their accounts on the same day.
This eases the cash flow of companies supplying to FAST Logistics.
“Strong supply chains are built on strong supplier relationships. Through the Digital SCF Program, we are helping businesses create a more sustainable ecosystem where suppliers – from MSMEs (micro, small and medium enterprises) to large enterprises – have access to the financial support they need to grow and thrive,” Louie Cruz, BPI Institutional Banking head, said in a news release in August.
FAST Group said collaboration with BPI provides crucial financial support to suppliers and boosts the country’s overall supply chain industry.
READ: FAST Logistics bats for faster supply chain sector digitalization
