New Delhi, Feb 01: Union Bank of India entered a Memorandum of Understanding (MoU) with C2FO Factoring Solution Private Limited, which operates the Trade Receivables Discounting System (TReDS) platform under the brand name C2treds, today.
This strategic partnership reinforces the Bank’s commitment to strengthening digital supply chain finance and enhancing liquidity access for MSMEs and corporates.
The MoU was signed by the senior management of the both the organizations. Union Bank of India was represented by Shri Abhijit Basak, Chief General Manager, Large Corporate Vertical, Shri Prasad Ramaswamy, Head – Corporate Relationship & Transaction Banking (CR&TB), Shri Siddharth Mujumdar, General Manager, Shri Biju Surendran & Shri Nagabhushan, Deputy General Managers from Union Bank of India. Ms. Neha Bahadur, Managing Director, C2treds, Shri Newton D’Souza, Associate Director – Financial Institutions, Shri Ninad’s Bhoir, Senior Manager, Financial Institutions Operations represented C2treds.
With this MoU, Union Bank of India will leverage the C2treds digital platform to provide efficient receivables financing solutions, enabling faster realization of working capital for MSMEs while offering corporates a seamless and transparent mechanism for vendor payments. The partnership is expected to deepen the Bank’s participation in the TReDS ecosystem and support the broader objective of strengthening India’s MSME sector.
Speaking on the occasion, Shri Abhijit Basak, Chief General Manager highlighted that the association with C2treds aligns with Union Bank of India’s strategic vision of promoting digital banking, inclusive growth, and risk-calibrated credit delivery.
Ms. Neha Bahadur, Managing Director, C2treds, stated that the partnership with Union Bank of India reinforces the shared objective of empowering MSMEs through timely access to working capital and will significantly contribute to the rapid expansion of C2treds as a trusted and scalable TReDS platform.
With this MoU, Union Bank of India takes one more step in its journey towards embracing innovative fintech partnerships to deliver customer-centric financial solutions.
