Standard Chartered’s SC Ventures launches bank agnostic supply chain finance

SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm, has launched of Trade and Supply Chain Connect (TASConnect), a bank agnostic supply chain finance.

TASConnect aims to be a provider of automated trade and supply chain financing solutions, which gives organisations and their ecosystems better access to liquidity and working capital management. It is designed to improve cash flow within supply chains through four key capabilities.

TASConnect is based on principles of co-creation and collaboration with clients to address their pain points of managing large, fragmented, and opaque supply chain finance processes. The platform will help organisations to simplify complex connections with their multiple value-chain partners, including suppliers, buyers, and banks.

At launch, TASConnect will offer accounts payable and accounts receivable management solutions, focusing on large corporate organisations. As part of roadmap, TASConnect is adding capabilities powered by artificial intelligence, machine learning and blockchain, along with ESG traceability to bring greater value to businesses.