LONDON, April 28, 2016 /PRNewswire/ --
Prabhat Vira has been appointed
President of Tungsten Network Finance, the supply chain finance arm
of the Tungsten Network business. Bringing more than 30 years of
global banking experience to the team, his appointment further
strengthens Tungsten Network as it implements its ambitious growth
strategy to become the world's most trusted business transaction
platform.
Vira has held senior positions in banking businesses across the
world including roles in London,
New York, Amsterdam, Singapore and India. He arrives from HSBC where he served as
the Global Head of Strategic Transformation and Regional Head North
America for HSBC's Trade & Receivables Finance business,
responsible for transforming their business, building sustainable
programs and securing new revenue streams. Prior to that, he headed
up RBS and Citizen Bank's transaction banking business for the
Americas, leading, motivating and energizing a team of 380 trade
finance and payments specialists across the Americas.
As President of Tungsten Network Finance, Vira is working
closely with Richard Hurwitz, the
CEO of Tungsten Corporation, to develop a radical "100 day plan"
which will shape his strategy for the business. He will lead
Tungsten Network's supply chain and receivables finance offering
and will build on the launch of the Early Payment service that
enables suppliers to, at the click of a button, get approved
invoices paid early.
Prabhat Vira said: "I am
extremely excited to be joining Tungsten Network at such a
significant time for the business. I have substantial experience in
building financial operations across the world and pioneering
change throughout organizations. Within the myriad of alternative
funding options on the market, we have an amazing opportunity to
leverage technology and analytics to position Tungsten Network at
the forefront of the industry. Our Early Payment service, in
particular, offers unparalleled easy-to-use flexibility for
suppliers and my mission is to enable more companies to realize its
potential for maximizing cash flow."
Richard Hurwitz, CEO, commented:
"Digital transformations are changing how businesses operate and
opening up innovative new ways to secure finance. Tungsten Network
is driving such change and Prabhat's arrival provides us with the
experience and leadership to accelerate adoption of our distinctive
financing offerings."
Tungsten Network is a global e-invoicing provider, increasing
efficiencies in the invoicing process and delivering cost savings.
In addition, it offers early payment as a form of alternative
finance, helping to maintain a solid financial supply chain.
Notes to editors
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) aims to be the
world's most trusted business transaction network by using data
intelligently to strengthen the global supply chain.
Tungsten Network is a secure e-invoicing platform that brings
businesses and their suppliers closer together with unique
technology that revolutionises invoice processing, maximises
efficiency and improves cashflow management. The Tungsten Network
also provides users with real-time spend analysis through
analytics, and offers access to Early Payment, a form of
alternative finance for businesses.
Tungsten Network serves 56% of the Fortune 500 and 67% of the
FTSE 100. It enables suppliers to submit tax compliant
e-invoices in 47 countries, and last year processed transactions
worth over $187bn for organisations
such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General
Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's and the US Federal
Government.
Contact
Speed Communications
Kerry Grove +44(0)117-906-4517 /
+44(0)7872-811735
Lizy Kidwell +44(0)117-906-4571 /
+44(0)7527331796
tungsten@speedcomms.com
SOURCE Tungsten Corporation