Standard Chartered’s SC Ventures launches supply chain finance platform
Standard Chartered’s fintech investment arm SC Ventures has launched a new bank agnostic supply chain financing platform called Trade and Supply Chain Connect (TASConnect).
TASConnect will operate out of Singapore
SC Ventures says TASConnect will unlock “significant value” for organisations through its end-to-end automation and will provide firms with full control over their trade and supply chain ecosystems.
Based in Singapore, TASConnect aims to give businesses and their related ecosystems improved access to liquidity and working capital management.
SC Ventures says the platform is designed to improve cash flow within supply chains in four ways: by enhancing efficiencies in accounts payable and receivable financing programmes; enabling access to increased working capital sources; automating and simplifying bespoke and complex workflows; and giving businesses control of their own programmes.
Prior to launch, TASConnect worked with clients to identify their pain points of managing large, fragmented, and opaque supply chain finance processes.
SC Ventures’ Alex Manson says: “We work closely with corporates to understand their business and challenges. TASConnect is a result of the client co-creation process that aims to realise value by connecting ecosystems with trust and trade.”
At launch, TASConnect will offer accounts payable and accounts receivable management solutions, focusing on large corporates.
Capabilities powered by artificial intelligence (AI), machine learning (ML), and blockchain, along with ESG traceability, will come online at a later date, SC Ventures says.
