Traxpay offers financial institutions the opportunity to expand their working capital and supply chain financing business by leveraging robust platform technology. With its partnership-driven and agile structure, Traxpay becomes an extension of the bank itself, its global platform, offering clients i.e., corporate buyers and their suppliers, key products, and services. This goes well beyond a basic supply chain finance offering, also integrating actual banking services such as guarantees, virtual cards and/or forex in a transparent and user-friendly way.
Corporates are rejecting mono-bank solutions and yet, not all third-party schemes are the same! Incumbent SCF platforms are disintermediating banks, who, over time, lose client intimacy and relationships. Financial institutions need to act now and play an active role in determining which platform(s) will prevail. By channeling their business to Traxpay, a multi-bank, yet bank-friendly solution, financial institutions can support a new market standard. This will, in turn, allow a continuing strong relationship between bank and client in the SCF area and beyond.
In its report, AITE-Novarica describes the most important factors and prerequisites for such a platform, whose ecosystem offers advantages for financial institutions as well as corporate buyers and their suppliers.
