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SC Ventures, Standard Chartered’s fintech investment and ventures arm, has launched Trade and Supply Chain Connect (TASConnect), a bank agnostic supply chain finance platform based out of Singapore.
At launch, TASConnect will offer accounts payable and accounts receivable management solutions, focusing on large corporate organisations.
As part of roadmap, the startup is adding capabilities powered by artificial intelligence, machine learning and blockchain, along with ESG traceability to bring greater value to businesses.
TASConnect will operate on the basis of creating a bespoke platform in collaboration with clients, with the aim of simplifying complex connections with their multiple value-chain partners, including suppliers, buyers and banks.
Alex Manson of SC Ventures 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.”
TASConnect namechecks Lenovo as one of its pioneer clients.
Hugh Wu, global treasury head of Lenovo, comments: “TASConnect helped us transform and fully automate our previously manual supply chain finance processes. The platform is customised to integrate all our financing banks and replicate our own workflows. Our Treasury function is now empowered with end-to-end visibility and control, all via one single platform.”
Financial Services
