Overview
The third pillar of the M1 NXT platform is comprised of Banks and NBFCs. When the invoice is accepted by the buyer and published to the M1 NXT platform, the financial institutions get involved. The size of the invoice and rating of the buyer and seller are two elements that the financial institutions take into account when making their bid. The supplier reviews the financial institutions' bids after they have submitted them to the M1 NXT platform and chooses the one that is most appropriate. The money is credited to the supplier's account in T+2 days after the DOA is accepted by all parties (exporter and financier).
The buyer then repays the financier on the due date. The M1 NXT platform enables financial institutions to participate in a changing market environment that is increasingly being driven by innovative financial technology initiatives and solutions.
For any participant to conduct business on the M1 NXT platform, formal registration and onboarding are a requirement. When a participant explicitly expresses interest in onboarding, M1 NXT will start the onboarding process for each participant.
The participant may do this using any of the following strategies:
Filling out our
Contact Us Form
Calling the M1 NXT customer service/contact numbers
Sending an email to the company's sales team's email address
The concerned participant is expected to provide all the information requested in the application, including that of the legal company, its authorised signatories, the financial statements, and pertinent documents to satisfy KYC standards, in order to facilitate onboarding. After Reviewing the Documents, the platform will then make the agreement available for signing.
Discover the source of value in your supply chain
Copyright © 2022 M1NXT. All Rights Reserved.
