Tradeling and AECB Combine Efforts to Boost UAE Trade and Business
Al Etihad Credit Bureau (AECB) signs an agreement with Tradeling, the Middle East and North Africa’s dominant eCommerce platform focused on business-to-business (B2B) transactions to facilitate offering buyers on the platform better credit facilities.
Parties will work on digitizing the credit assessment of the credit history of enterprises and SMEs looking to avail of any of the platform's credit finance offerings, which will become a major element of Tradeling's decision-making process upon assessing the risk of the applicant’s credit finance request.
As part of the agreement, local and international sellers on the platform will be able to identify companies with a good credit rating and extend financing terms, offering them an opportunity to focus on growth and scaling up their businesses with financial ease.
Additionally, Tradeling will act as a non-financial institution, reporting borrowers' positive and negative payment behaviors to Al Etihad Credit Bureau.
Today, Tradeling’s finance solutions include direct credit lines that permit UAE-based companies to purchase products from a wide array of sellers in 14 different categories with deferred payment terms of 30, 60, or 90 days.
Marwan Ahmad Lutfi, Chief Executive Officer, Al Etihad Credit Bureau, said: “This collaboration will positively empower the B2B platform to boost its participant's businesses through facilitating credit facilities with attractive payment terms based on the extensive information provided in the credit reports and score.
"As a result, our credit reports and credit scores will not only help Tradeling make informed decisions but will also allow them to generate informed foresights and KPIs, eventually leading them to sustainable prosperity for market players through better cash flow management.”
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Tradeling will report to AECB the repayment behavior of companies, which availed of credit facilities so that it will show in their credit report which will ultimately impact their credit score.
Marius Ciavola, Chief Executive Officer, Tradeling said: “To further drive the growth of our customer's businesses and reduce credit risk exposure, we are committed to promoting best practices through essential collaborations.
"The collaboration with AECB is a key step toward better understanding and serving our consumers, as well as differentiating service offers for clients with a good credit history.”
AECB’s products better help support decisions relating to investment and credit targets to reward companies’ ability to maintain timely payment schedules and creditworthiness and access the best products and offerings within the industry.
Companies can rely on AECB’s robust products and capabilities to assess companies’ financial risks.
Led by a team of experienced technology startup builders, Tradeling ensures a reliable and smooth trade process in addition to providing logistics and financing solutions.
Connecting global suppliers with MENA-based demand, the platform leverages advanced technology to optimise the supply chain and creates economic value in addition to mitigating risks.
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