Ricky Kaura, Head of Transaction Banking, Asia Pacific, Africa and Middle East at Standard Chartered Bank

Looking into Standard Chartered Bank’s deep-tier supplier finance solution

SCeChain utilises the latest technologies to provide financing to clients’ deep-tier suppliers.

Standard Chartered Bank (SCB), as a leading trade financing bank, is committed to providing solution innovations to support clients’ supply chain financing needs globally. The company is currently facing the fast development of fintech and the strong market demands for deep-tier supplier finance.

As such, it has established a strategic partnership with market-leading fintech Linklogis, which is specialising in digital supply-chain financing solutions, to co-create a deep-tier supplier finance solution to aid clients’ supplier financing needs. In this stead, it has launched the ‘SCeChain’ solution for multi-tier supplier financing.

The SCeChain solution utilises AI, Blockchain, Cloud and Big Data technologies to provide financing to clients’ deep-tier suppliers.

Under the solution, the platform creates a Digital Payment Obligation (Digipo) on the blockchain, based on the client’s accepted invoices. Tier 1 suppliers may choose to transfer the Digipo to Tier 2 (or beyond) suppliers. Tier2 (or beyond) suppliers have the same options. On the maturity date of the original invoice, the client makes a payment split amongst all the holders of the Digipo which is recorded on the blockchain.

As of August 2022, it has provided the solution to over 20 corporate clients across China, financing over 900 SME suppliers on their supply chains. Now, its SCeChain portfolio is being diversified across major ‘new economy’ industries. SCB has tailored these solutions based on the specific business requirements unique to each industry’s characteristics.

Partnering with Linklogis on digital technologies and system capability, SCB has also deployed multiple solution upgrades based on the clients’ requirements for enhanced functionalities and improved client experience over the past three years.

Riding on the success of ‘SCeChain’, SCB has further expanded its collaborations with Linklogis since 2020. It has solutions that enable corporates across pan-China cities to submit overseas payment instructions and electronic data via single access, enabling clients to centralise payment operations for a simple, paperless, and straight-through cross-border payment experience.

SCB and Linklogis are currently working closely on more partnership innovations. Several new initiatives are being developed, including expanding the SCeChain solution to the overseas markets, exploring new partnership solutions in the sustainable trade finance space, and providing additional financing support in the One Belt, One Road corridor markets.

The success of the SCeChain solution and the partnership between SCB and Linklogis has been acknowledged by the HKB Greater Bay Area Enterprise Awards 2022, as the former receives the Supply Finance category.

The prestigious awards programme honours outstanding companies for their excellent performance and commitment to driving collaborative and economic development between Hong Kong and the Greater Bay Area.

The HKB Greater Bay Area Enterprise Awards is presented by Hong Kong Business Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for your company's initiatives in the Greater Bay Area that foster mutual cooperation, investment, and development, please contact Bianca Penaranda at [email protected].

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