Wednesday 9th October, 2013

Things are definitely moving fast in the supply chain finance industry. Relative newcomer, Crossflow Payments, has indicated its continued expansion with Tuesday's announcement that Jack Perschke has joined the company as Commercial Director. Crossflow Payments has recently launched its industry-first peer-to-peer (P2P) invoice financing service, which supports SME cash flow issues in supply chains and offers finance providers a low risk, high yield investment option.

Crossflow Payments say that the appointment will bring significant experience of complex commercial-led change from Jack's past roles with Ernst and Young's advisory practice and his own commercial strategy business.  He also has extensive government and IT experience having worked with The Cabinet Office, The Ministry of Justice, Passport UK, The Government Procurement Service and The Department for Business Innovation and Skills (BIS).

Crossflow Payment's proposition is designed to drive cashflow into the supply chains of SMEs, something the government has been pushing hard to achieve. Jack describes the Crossflow solution as “really ground breaking. It is leveraging both the government’s Funding for Lending programme launched by David Cameron in July 2012 and partnering with private investment firms keen to provide finance to SMEs.’’  

Tony Duggan, CEO of Crossflow commented “As this business grows, it is crucial that we have the expertise to scale with the level of growth we plan to achieve. Jack has great leadership and business transformation skills that position Crossflow Payments well for the future.”