SINGAPORE, Sept. 29, 2021 / PRNewswire / – SingaporeFinTech RootAnt Global, announced the introduction of its central lending platform, BANCR, into the existing BANCO platform, one of the first neobank transaction platforms in Asia. In line with BANCO by RootAnt Global’s strategy to connect businesses of all sizes, stakeholders and financial institutions on a single platform for better, faster and more relevant financial services, BANCR aims to provide a platform- digital and open banking form for small and medium-sized businesses. small businesses (SMEs) for easier access to financing.
BANCO is currently offering a next-level financing solution to enable companies across the value chain to optimize cash flow and improve business efficiency. With the introduction of BANCR, SMEs can register their financing needs and submit loan applications to multiple lenders at the same time, allowing SMEs to access financing faster and more efficiently.
“This new platform, BANCR, represents RootAnt Global’s determination to foster accessibility and collaboration among financial institutions, stakeholders and SMEs of all sizes to optimize cash flow and improve business performance. business efficiency. We are excited to introduce BANCR into our platform, further elevating our range of product offerings. The integration of BANCR and BANCO demonstrates our commitment to bring different stakeholders together under a unified platform – ensuring a seamless experience for all, ”said Lincoln Yin, Founder and CEO of RootAnt Global.
According to SMEs in a new decade, new economy – February 2020 Report Co-published by GrabFinance and Bloomberg Media, MSMEs now account for over 90% of establishments in the Southeast Asia region, while contributing 30 to 53% of member countries’ gross domestic product. Of more than 600 companies surveyed in the region, 90% of those surveyed financed their business with their own savings, while only 39% said they had taken out a bank loan and 15% obtained financing from venture capital firms. or investors. This is where RootAnt Global’s introduction of BANCR into BANCO could potentially make a difference, providing a platform for SMEs to efficiently access finance under one platform.
In addition, RootAnt Global will also unveil an exciting new logo for BANCO, which represents the company’s debut in Singapore and his vision of building a digital infrastructure to connect and accelerate the growth of finance in Asia. Working towards this vision, the platforms powered by BANCO would soon be made available through partners on the continent. China, Hong Kong, Indonesia, Japan, Vietnam, and more.
M / s. Therese Tah, Managing Director, Corporate Banking Services, Standard Chartered Bank (Singapore) Limited said: “Digitization and innovative partnerships have been a key part of Standard Chartered’s strategy to serve our merchant banking clients. To continue delivering on our promise to deliver relevant and timely financial services, we are excited to partner with BANCO to enable more efficient access to finance for more SME clients. By supporting SMEs, which have vast potential to contribute significantly to the development of our economies, we can expect to foster inclusive and sustainable growth for the benefit of all. “
“We are delighted to welcome the launch of the central lending platform BANCR by RootAnt Global. The pandemic has plunged the global economy into turmoil and made it even more difficult for SMEs by Singapore to access funding. Such platforms are a beacon of hope for SMEs who now have a unified and omnichannel platform to meet their financing needs with confidence. We have regained the motivation knowing that we have an alternative route to obtain loans outside the traditional routes,” noted Kenneth tan, director of Stewart Engineering Works.
In line with the BANCR introduction, RootAnt Global recently hosted a webinar with the Federation of Singapore Businesses on how SMEs can better protect themselves to be more creditworthy from a lender’s perspective. As a result of COVID-19, SMEs find themselves in a precarious position with limited access to financial support as countries have closed borders and imposed strict restrictions on the movement of goods and services to align with social isolation measures.
About RootAnt Global
Founded in 2018, RootAnt Global is a Singapore-FinTech whose head office has the mission of building the digital infrastructure to connect finance in Asia, in order to provide better, faster and more relevant financial products to solve business problems with technology. Through its product offerings, the company aims to unlock value for financial institutions and businesses, while building the digital infrastructure of movable assets.
BANCO by RootAnt Global offers supply chain finance and green finance solutions at a high level, giving all stakeholders access to a single platform to optimize cash flow and improve efficiency of the company. BANCR’s central lending platform makes it easier and more efficient for SMEs to access financial support.
SOURCE RootAnt Global