Capital as a Service solution enables fintech and banking to expand investment grade business
After recently launching its flagship CaaS Wallet product suite to monetize inventories, trade funding company TCC has emerged as a promising fintech partner for traditional banks at a global annual meeting of leading banks and banking executives in Washington DC.
While bankers worldwide in attendance at the BAFT (Bankers Association for Finance and Trade) Global Annual Meeting from May 1 – 4 cited threats from fintech companies and challenger banks among their top concerns this year, TCC provided thought leadership on opportunities for traditional banks and tech to collaborate and grow investment grade business.
With its patent-pending CaaS Wallet™ (Capital as a Service) solution, TCC introduced a pathway for banks to offer a powerful financial solution that optimizes its manufacturing clients’ capital efficiency and improves their supply chain visibility at the same time.
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“The timing couldn’t be better for banks to explore, not fear, what fintechs like TCC can offer,” said Sanjay Bonde, TCC CEO and Chairman. “The world’s supply chain and trade ecosystem have changed dramatically and we must be ready to help clients deal with inventory buildup. TCC’s agility is based on our deep supply chain expertise, and combined with banks’ funding capabilities, we are creating compelling solutions for clients exploring options for sourcing their working capital.”
Tom Linton, Senior Advisor and Consultant in Supply Chain, Procurement and Digital Strategy with McKinsey & Company noted that by partnering with fintechs like TCC, banks can deploy capital to help OEMs mitigate supply chain disruptions: “What’s valuable about TCC’s Capital as a Service™ solution is that it gives you the most important thing a business can do: the ability to plan reliably. If you can plan reliably because variability and disruptions get absorbed by access to easy capital in order to finance that variability, you’re going to have a much more stable, predictable business. You can actually almost slow the disruption down and smooth it out.”
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“With TCC’s innovative CaaS Wallet, banks can deliver better customer outcomes as well as forge new customer relationships by differentiating their offerings in a crowded market” said Michael Doran, TCC’s Chief Financial Officer and GC.
TCC’s CaaS Wallet™ includes the following patent-pending products:
- Inventory Card™ – offering its corporate users the power to secure access to components and raw materials without immediate purchase or incurring debt
- Factoring Card™ – offering its corporate users a convenient user interface and the power to liquidate receivables based on counterparty credit risk to generate liquidity and optimize balance sheets and its lender covenants
- SupplierPay Card™ – offering its corporates the power to accelerate supplier payments on aggressive terms in order to build better relations, reduce costs and seek priority commitments from them
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