TASConnect strives to tap into VN's $35 billion supply chain finance market

Thursday, Mar 23, 2023 13:13

TASConnect’s platform provides increased visibility of commercial trade data, which allows traditional financiers to make better credit decisions when offering supply chain financing solutions.— Photo provided by the agency

Singapore-based TASConnect is looking to address Viet Nam’s underserved supply chain finance market, which is forecast to reach US$35 billion by the end of 2024, the company said in a statement.

TASConnect, a SaaS supply chain fintech platform incubated through SC Ventures - a Standard Chartered innovation, fintech investment and ventures arm, appointed Valiant Co Ltd, as its Viet Nam channel partner to provide strong ground support and smooth deployment of the company’s advanced supply chain fintech solutions.

With offices in HCM City and Ha Noi, Valiant is managed by a group of seasoned bankers and technologists with a deep knowledge of Vietnamese banking regulations and market practices.

Leveraging its strong local relationships, and capabilities in advisory and implementation services, Valiant will support TASConnect’s deployment of customised solutions in digital transformation, commercial financing workflows, risk analytics and systems integration, specially-tailored to meet the needs of the Viet Nam's commercial market.

“Riding on the tailwind of government efforts to digitise processes and improve the sourcing of accurate data, TASConnect will work with Vietnamese financial institutions, MNCs and regional banks to enhance Viet Nam’s supply chain finance market,” said Kingshuk Ghoshal, co-founder and CEO, TASConnect.

“TASConnect’s solution, which digitalises transactions between corporations and their trading partners, helps companies expand their scale and scope of supply chain financing without incurring high capital expenditure on IT or human resources,” Ghoshal said.

TASConnect’s bank-agnostic SaaS supply chain finance platform is ready-to-deploy and easy to configure to suit diverse client business models and industries. The fintech’s solution unlocks value for organisations by enhancing efficiencies in accounts payable and receivable transactions, enabling access to increased funding sources, automating complex workflows, thereby giving businesses greater control of their processes.

Since the company’s launch in February 2022, TASConnect has integrated with large enterprises and regional banks, handling over 250,000 transactions while achieving a gross transaction value of over US$13 billion up to date. — VNS

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