TASConnect aims to serve Vietnam's supply chain finance market

Ho Chi Minh City, 23 March 2023 -- TASConnect, a SaaS supply chain fintech platform incubated through SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, is looking to address Vietnam’s underserved supply chain finance market, which is forecasted to reach US$35 billion by the end of 2024.

TASConnect offers holistic, customisable and multi-funder solutions for accounts payable and accounts receivable transaction throughout the supply and distribution chain

Singapore-based TASConnect appointed Valiant Co. Ltd., as its Vietnam channel partner to provide strong ground support and smooth deployment of the company’s advanced supply chain fintech solutions. With offices in Ho Chi Minh City and Hanoi, 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 Vietnam 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 Vietnam’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 to expand their scale and scope of supply chain financing without incurring high capital expenditure on IT or human resources.”

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.

TASConnect offers holistic, customisable and multi-funder solutions for accounts payable and accounts receivable transaction throughout the supply and distribution chain. The fintech also provides value-added services beyond digitalisation and working capital, including, Know Your Customer checks, payments and foreign exchange conversion services, capabilities that are provided by third party solutions providers.

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.

“TASConnect’s mission is to democratise working capital finance,” Ghoshal said. "Unlike conventional bank offerings that are anchored on secured lending and legacy commercial credit processes, that lack seamless digital onboarding and servicing models, TASConnect offers an easy-to-deploy solution that can be customized for a wide variety of businesses.”

Large MNCs can leverage TASConnect to connect their value chain ‘last-miles’ to wider pools of funding sources to scale their supply chain networks sustainably. 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.

“We are excited to partner with TASConnect to grow the supply chain finance sector in Vietnam,” said Hanh Tran, Vice President (Sales) at Valiant Co Ltd. “We look forward to leveraging the expertise of TASConnect’s team who have experiences from Standard Chartered, Citibank, Deutsche Bank to better serve Vietnamese customers. TASConnect’s technology experts understand the needs of local customers, enabling them to structure bespoke domestic and cross-border supply chain financing solutions with bank-grade security.”